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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Aug- 2022 -25 August
Brits to have more considered Christmas as inflation bites, says eBay
The impact of inflation means consumers will be prioritising value for money and thoughtful gifting this festive season, according to the eBay Ads UK’s latest Christmas Spend Trends research report. The research, which surveyed 2,010 UK consumers who celebrate Christmas, found that a third (32%) of consumers are planning to…
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25 August
Asda to remove ‘best before’ dates on produce
Asda has announced plans to remove the ‘best before’ dates on almost 250 of its fresh fruit and vegetable products as a way to help customers reduce food waste and save money. It is reported that from 1 September, the supermarket will remove the dates from packaged fruit and vegetable…
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25 August
Iceland’s debt rating downgraded as it falls to pre-tax loss
Iceland’s debt rating has been downgraded by Moody’s as its newly filed accounts showed Iceland Foods fell to a pre-tax loss of £4.1m for the 52-week period ended 25 March 2022, compared to a profit of £73.1m in the prior year. Sales dropped 4.3% from £3.7bn to £3.5bn year-on-year, compared…
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25 August
French fashion brand Jott to open its first UK store in Marylebone
French fashion brand Jott has announced its first UK store is opening in Marylebone Village in the autumn. Jott is a French premium outerwear brand with “iconic colourful down jackets”. Its first British store at 103 Marylebone High Street covers 1,140 sq ft of space. The news follows the recent…
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25 August
Cambridge Satchel Company acquired by Chargeurs
The Cambridge Satchel Company has announced it has been sold to French textile company Chargeurs for an undisclosed sum. Created in 2008 by Julie Deane and her mother, Freda Thomas, the British firm designs, manufactures and distributes a range of leather bags, satchels and accessories, employing over 60 people. Deane…
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24 August
Richemont agrees deal to offload YNAP stake to Farfetch
Richemeont has revealed it has agreed a deal to offload a majority stake of its e-commerce unit Yoox-Net-A-Porter (YNAP) to Farfetcth and Emirati investor Alabbar. The deal will see Farfetch and Alabbar acquire a 47.5% and 3.2% stake respectively in YNAP, and the agreement for Richemont and YNAP each to…
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24 August
Apricot to exit CVA early
Creditors of Apricot have reportedly voted in favour of the retailer exiting its company voluntary process (CVA) 16 months earlier than planned due to an improvement in trade, according to Drapers. Apricot launched a CVA in January 2021 to move 13 of its 14 UK standalone stores to turnover rent…
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24 August
Oxford St footfall up 24% as international travel begins to return
Footfall levels on London’s Oxford Street continued on an upward trajectory in July 2022, up 24% from the previous month, according to RSM UK’s analysis of the latest data from Datscha. Footfall as a whole increased 16% in July 2022, compared to the previous month. As well as London, Leeds…
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24 August
Department stores could be given protected status
Department stores across the UK could be given protected status following a new review of high streets from Historic England. It comes as many department store units have been left empty following the collapse of such chains as BHS and Debenhams, which fell into administration in recent years, with closures…
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24 August
Co-op Group appoints Shirine Khoury-Haq as CEO
The Co-op Group has announced the appointment of Shirine Khoury-Haq as the supermarket chain’s new CEO. Allan Leighton, chair of Co-op, said: “I’m delighted that Shirine has accepted the invitation to lead and develop our Co-op into the future, tackling the challenges presented by the highly uncertain and volatile external…
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