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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Oct- 2022 -17 October
Eve Sleep calls in administrators as it abandons sale process
Mattress company Eve Sleep has reportedly appointed New York-based Kroll Advisory as its administrator after abandoning its efforts to secure a buyer. The business is said to have tried restructuring and reducing its cost base, but “lacked” the scale to continue as an independent business. The news comes as the…
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17 October
Made.com seeks firm takeover offers by end of the month
Made.com has confirmed it has received a “number” of takeover proposals as it looks to secure a rescue deal by the end of the month. Following a number of non-binding indicative proposals, the group has now invited a “select” number of parties to “progress towards firm offers” by 31 October.…
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14 October
Mango to open three new UK stores
Mango, the European fashion group, is accelerating its expansion in the UK with the opening of three new stores this autumn to bring the total to almost 50 by 2022, combining its physical presence in shopping centres with standalone stores and corners in department stores. After opening in September at…
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14 October
Ocado shares rise amid Kroger merger talks
Ocado shares have risen over 10% after reports that its largest technology client, Kroger, was in talks with US supermarket operator Albertsons over a potential merger, which could see Ocado expand its presence in the US. Following reports from Bloomberg over a potential merger, the company rose to the top…
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14 October
Marks & Spencer considers moving head office from London
Marks and Spencer is considering the prospect of leaving and downsizing its central London head office, according to Retail Week. The department store‘s chief executive Stuart Machin reportedly raised the possibility at this week’s investor day during a presentation, where he questioned the need for large central London offices. He…
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14 October
Boots sales surpass pre-pandemic levels in FY22
Boots has seen retail sales exceed pre-pandemic levels as it delivered strong growth for Q4 and the full year ending 31 August 2022. The group said its performance “significantly” contributed to a 65% increase in full year adjusted operating income for WBA International. Its sales results in the period were…
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14 October
Revolution Beauty CEO and exec chair stand down amid audit investigation
Revolution Beauty has announced that its executive chairman, Tom Allsworth, and chief executive, Adam Minto, have both voluntarily agreed to step away from the day-to-day management of the business for the time being. The company said the decision has been made to allow them to support the independent investigation being…
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13 October
MySale asks shareholders to accept Frasers offer
The board of MySale has asked its shareholders to accept Frasers Group takeover offer despite it “unanimously believing” that it undervalues the company. The news comes after Frasers made a cash offer by Frasers for the entire issued and to be issued ordinary share capital of MySale, at 2 pence…
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13 October
Frasers eyes new Midlands global HQ
Sports Direct could quit its current Derbyshire headquarters amid plans from its parent company Frasers to create a new global HQ in the West Midlands, according to the BBC. The Shirebrook site was sold in 2019 but Sports Direct’s lease runs to 2034. The group, which also runs Flannels and…
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13 October
JD Sports CFO to step down next year
JD Sports has announced that Neil Greenhalgh will step down from his role as chief financial officer (CFO) next year. The Nominations Committee, led by Andy Higginson, will now begin a process to recruit his successor. According to the group, Greenhalgh is committed to assist in this process to help…
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