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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May- 2022 -30 May
Reebok owner in talks to seal £300m Ted Baker takeover
Reebok’s owner, the Authentic Brands Group (ABG), is reportedly racing to finalise a £300m takeover of Ted Baker, according to Sky News. ABG has reportedly become the preferred bidder for the London-listed fashion retailer, and has indicated that it is willing to pay more than 150p-a-share for the company. According…
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30 May
Sainsbury’s to invest £500m to help with cost of living crisis
Sainsbury’s price investment is set to top £500m in a bid to help customers amid the ongoing cost of living crisis. It comes as the group said it was aware of rising pressures on household budgets, adding it was determined to “offer low prices and deliver the best possible value…
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27 May
Mango debuts new digital wellness line
Mango, the European fashion group, is opening a new wellness line by integrating a selection of the Rituals catalogue and stock onto its online platform, in a bid to extend its commercial offering and service to customers. Mango’s marketplace will feature 150 Rituals products in six categories: bath and shower,…
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27 May
West End set for £80m injection over Jubilee weekend
The New West End Company, which represents 600 retail, restaurant, hotel and property owners across Bond Street, Oxford Street, Regent Street and Mayfair, said that it forecasts that sales over the Jubilee weekend (2-5 June) will hit £80m. The New West End Company, which represents 600 retail, restaurant, hotel and…
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27 May
In The Style raises £500k for Bowelbabe Fund
In The Style has raised half a million pounds in aid of The Bowelbabe Fund for Cancer Research UK. The group said the funds were raised through the sale of the Dame Deborah James ‘Rebellious Hope’ t-shirt, the first item to be unveiled from the Dame Deborah James collection, as…
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27 May
Asda sales drop 9.2% to £4.64bn
Asda has reported its like for like sales (excluding fuel) fell by 9.2% to £4.64bn in the period from 1 January to 31 March 2022 (Q1), compared to the “exceptional” period of Q1 2021, when the UK’s third national lockdown resulted in more meals being consumed at home. Overall, the…
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27 May
Ted Baker losses narrow as sales boosted by return of social events
Ted Baker has seen its losses narrow to £44.1m for the 52 weeks ended 29 January 2022, up from a loss of £107.7m the previous year. The improved performance comes as group revenues increased 20% to £428.2m, up from £355.3m, as the retailer said sales were “supported by a steady…
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26 May
John Lewis enters childrenswear rental market
John Lewis and Partners has announced it is launching a trial with thelittleloop to give parents the choice to rent their children’s clothing. An initial 51 items of clothing for children and babies up to age 12 are available from today (26 May). Customers can swap their rented clothing at…
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26 May
Nike to consider exiting Russia after not renewing main franchise deal
Nike is reportedly considering exiting Russia permanently after not renewing its franchise agreement. According to reports first revealed by The Vedomosti Daily, the news comes after the sports giant didn’t renew its agreement with Inventive Retail Group, which owns Russia’s largest chain of retail stores. IRG president Tikhon Smykov reportedly…
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26 May
JD Sports chair Peter Cowgill steps down with immediate effect
JD Sports Fashion Plc has announced that Peter Cowgill, currently executive chairman, will step down from his role with immediate effect. As a consequence of an ongoing review of the company’s internal governance and controls, JD Sports has decided to accelerate the separation of the roles of chair and chief…
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