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 -18 August
Angling Direct sales grow 1.3% in 2022 H1
Angling Direct has revealed its sales have grown 1.3% year-on-year to £38.9m in the first six month of 2022 ended July 31. While its first quarter sales grew by 5.4% to £21.9m, pressure on discretionary spending and consumer confidence meant that second quarter sales fell by 1.6%. In-store sales climbed…
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18 August
Made.com calls in advisers to shore up balance sheet
Made.com Group, the online furniture retailer, has reportedly called in advisers to help shore up its balance sheet as it plans for a share sale to raise approximately £50m, according to Sky News. The London-listed company has hired PricewaterhouseCoopers (PwC) to evaluate cost-cutting strategies and restructuring options. Made.com is said…
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18 August
Bensons for Beds gets new funding as it appoints COO
Bensons for Beds has secured additional funding from owner Alteri Investors to drive its growth strategy and transformation plans further, whilst also appointing Gavin Chappell as its new chief operating officer. Alteri’s new investment comes two years after it first invested in Bensons. This time, Alteri’s funding will be specifically…
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18 August
AO swings to £37m loss in FY amid rising costs
AO has fallen to a pre-tax loss of £37m in the full-year ended 31 March 2022, down from a profit of £20m the prior year, as the electrical retailer contended with rising costs and warned of “more volatility” to come. Group EBITDA plummeted 87% to £8.5m over the period, attributed…
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17 August
Inflation hits new 40-year high at 10.1%
Inflation has once again broken records with a new 40-year high recorded last month, as the Consumer Price Index (CPI) hit 10.1% in the 12 months to July 2022, up from 9.4% in June. According to the Office for National Statistics (ONS), the biggest contribution to this figure was rising…
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17 August
Pandora appoints Mary Carmen Gasco-Buisson as CMO
Pandora has announced it has appointed Mary Carmen Gasco-Buisson, currently Global VP at Unilever, as its new chief marketing officer, reporting to CEO Alexander Lacik and serving on Pandora’s Executive Leadership Team. It said Gasco-Buisson holds an “extensive” track-record of growth and transformation across consumer brands in categories such as…
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17 August
Boohoo makes strategic investment into Revolution Beauty
Boohoo has announced that it has recently made a strategic investment into Revolution Beauty Group plc amounting to a direct interest of 7.1% of Revolution Beauty’s issued share capital. The investment builds upon the existing relationship between Boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several…
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17 August
Battersea Power Station adds further list of brands to portfolio
Battersea Power Station announced that it will be adding more leisure brands, which will be opening in the iconic Grade II-listed building and on Electric Boulevard, central London’s newest pedestrianised high street, from Autumn 2022. Amongst the line-up of new brands announced is Battersea Bookshop from specialist bookseller, Stanfords. The…
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17 August
Asos COO and CFO Mat Dunn to step down
Asos has revealed that its chief operating officer (COO) and chief financial officer (CFO), Mat Dunn, will step down from his roles as the company restructures its executive team. Having agreed a phased plan, Dunn will continue in his role and as a member of the board until at least…
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16 August
Reebok owner acquires Ted Baker for £211m
Authentic Brands Group (ABG), the parent company of Reebok, has reached an agreement to acquire Ted Baker for approximately £211m, with Ted Baker shareholders being entitled to receiving 110p in cash for each Ted Baker share. It is reported that the cash consideration is final, Bidco, an ABG-owned entity, reserves…
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