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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Apr- 2022 -13 April
Ted Baker confirms Sycamore to take part in sales process
Ted Baker has confirmed that US private equity service firm Sycamore Partners is to take part in its formal sales process. In an official statement, the retailer said that as such, Sycamore is no longer required under Rule 2.6(a) of the Code to announce, “either a firm intention to make…
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13 April
M&S partners with Hirestreet for new rental collection
M&S has launched a new clothing rental collection with Hirestreet in a move that marks the biggest ever retailer collaboration for the fashion rental platform. The Spring launch is the second drop of M&S products on the site. The partnership first launched in November 2021, and the latest collection follows…
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13 April
Aldi trials all-electric trailer to lower delivery fleet emissions
Aldi has announced it is trialling an all-electric refrigerated trailer to form part of its efforts to reduce lower carbon emissions in its lorry fleet. The trailer converts kinetic energy into electricity to power the on-board batteries as the wheels turn, meaning products are kept cool – all while reducing…
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13 April
UK inflation hits 7% amid rising fuel costs
The annual rate of inflation has hit a new 30-year record with a rise of 7% in the 12 months to March 2022, up from 6.2% in February, with rising prices for motor fuels resulting in the largest upward contribution to the monthly rate. According to the Office for National…
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12 April
Watches of Switzerland unveils leadership shakeup
The Watches of Switzerland Group PLC has announced the appointment of Chabi Nouri to the board as an independent non-executive director and a member of the company’s ESG Committee, effective from 1 May 2022. Prior to her new role, Nouri was president and chief executive officer (CEO) of Piaget, with…
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12 April
Fragrance Direct relaunches website one year after Maximo acquisition
Online beauty retailer Fragrance Direct has revamped its website and unveiled a brand refresh – one year after it was acquired by the Maximo group. Fragrance Direct has now migrated its website from a third-party platform onto a proprietary solution owned and developed by the Maximo Group. The opportunity arose…
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12 April
Asos swings to loss and predicts further £14m hit from Russia exit
Asos has revealed its pre-tax profits fell 115% year-on-year from £106.4m to a pre-tax loss of £15.8m in the six months to 28 February 2022 (H1 FY21). The company also said it is expected to take a further £14m hit following its decision to suspend sales in Russia, with revenue…
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12 April
Retail sales slow as consumer confidence wanes
Total sales increased by 3.1% in March, dropping below the three-month average growth of 6.9% and the 12-month average growth of 10.3% as customer confidence waned amidst the cost of living crisis, according to the latest BRC-KPMG sales monitor. UK retail sales decreased 0.4% on a like-for-like basis from March…
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12 April
Westminster City Council creates pop-up boutique for 12 independent businesses
Westminster City Council has created a pop-up boutique for 12 emerging independent businesses, giving them the opportunity to be part of the West End’s retail offer. It revealed this is in collaboration with Heart of London Business Alliance, GPE, and Appear Here. According to the council, It is taking over…
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12 April
M&S commits to lower prices amid cost of living crisis
M&S has committed to lowering the prices of everyday products in a bid to ease the pressure of the unfolding cost of living crisis. The retailer is set to lower prices within its Remarksable range, with a focus on everyday staples, including semi-skimmed milk, sliced bread, beef mince, spaghetti and…
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