News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Nov- 2022 -22 November
Leon to more than double self-serve coffee kiosks
Fast-food brand Leon has announced plans to more than double the number of its self-serve coffee kiosks in the UK to over 200 before the end of January. It is mainly planning to do this expansion in EG Group convenience stores and with a large rollout in Asda supermarkets. Four…
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22 November
Crew clothing eyes Joules takeover
Crew Clothing’s owner and majority shareholder is reportedly considering acquiring embattled retailer Joules out of administration, according to Drapers. The outlet has revealed that the Brigadier Acquisition Company, which is owned by Menoshi Shina, is in talks with administrators Interpath Advisory about a potential rescue deal that could see a…
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22 November
Raf Simons to close label after 27 years
Raf Simons has announced he is closing his eponymous label after 27 years. Announcing the news via Instagram, the fashion designer revealed that the brand’s spring/summer 2023 collection shown in October in London will be its last. “I lack the words to share how proud I am of all that…
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22 November
John Lewis chair warns inflation is ‘hitting top line’ as spending falls
The chair of John Lewis has warned that inflation is “hitting the top line”, with the group witnessing a notable shift in consumer habits amid the cost of living crisis, as more people are budgeting and deferring big purchases. Speaking at the CBI’s annual conference, Dame Sharon White said: “This…
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22 November
AO revenues fall 17% in H1
Electrical retailer Ao reported a year-on-year revenue decline of 17% in the six months ended 30 September 2022, as the company experienced a reduction in the overall electricals. It is reported that the group also saw a statutory loss before tax of £12m compared to a loss of £4m in…
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22 November
Footfall sees Black Friday lull amid cost of living crisis
Footfall across UK retail destinations rose by a modest +1.6% last week from the week before, driven mostly by high streets (+1.7%) and shopping centres (+2.4%) whilst footfall in retail parks remained largely level from the week before (+0.5%), according to Springboard. Springboard said that this indicates “reservation” in consumers…
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21 November
Foot Locker lifts guidance despite fall in Q3 sales
Footwear retailer Foot Locker has raised its FY guidance despite seeing a fall in sales and net income during the third quarter. For the 13-week period ending 29 October 2022, the company reported net income of $96m (£81.2m) compared with $158m (£133.7m) the prior-year period. Meanwhile, it confirmed third quarter…
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21 November
Iceland founder rebuffs takeover approaches
Malcolm Walker, the founder of Iceland Foods, has reportedly dispelled rumours that he has been “quietly marketing” the company to other interested parties, according to The Times. Walker has reportedly rejected “frequent” approaches from potential buyers for the frozen foods supermarket in the past. The Times reported that he found…
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21 November
M&S welcomes menswear to ‘brands at M&S’ platform
Marks and Spencer has announced a deal which will bring brands such as Ted Baker, Superdry, Lyle and Scott and Musto to its ‘brands at M&S’ platform. The introduction of these latest third-party brand partners will see the addition of more than 250 menswear products to M&S.com bringing the total…
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21 November
H&M closes one in five UK stores amid sales hit
H&M has closed around one in five of its shops in the UK, according to The Mail on Sunday, as sales have continued to be impacted by changing consumer behaviour. The chain has reportedly closed 56 stores since its peak in the months before the pandemic, leaving only 192 outlets…
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