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 -11 April
Weird Fish freezes prices amid soaring inflation
UK lifestyle clothing brand Weird Fish has announced it is freezing prices for its spring/summer trading period in response to the rising cost of living pressures. The announcement comes as non-food retail inflation tipped its highest rate since 2011 in March at 1.5%, with consumers seeing their fifth consecutive month…
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11 April
Marks Electricals sees revenues surge to £80m
Marks Electricals has hailed a strong year of revenue growth for the full-year ending 31 March 2022 as its revenues hit £80.5m. This is up 44% year-on-year compared to the £56m it recorded during the previous 12 months. In the trading update, ahead of its full set of results set…
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11 April
Boohoo opens its first manufacturing facility in Leicester
Boohoo Group has announced it has opened its first manufacturing facility as a ‘Centre of Excellence’. Boohoo said this comes as the group identifies a ‘bright future’ for garment manufacturing in Leicester. The factory represents a multi-million pound investment by Boohoo and aims to “reintroduce skills” in garment manufacturing that…
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11 April
UK economic growth slows in February to 0.1%
Gross domestic product (GDP) slowed in the UK as the economy only saw 0.1% growth in February, down from a growth rate of 0.8% in January. According to the Office for National Statistics (ONS), services grew by 0.2% and was the main contributor to February’s growth in GDP, although this…
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11 April
Mothercare ups guidance but warns on impact of Russian closures
Mothercare has announced that EBITDA is now expected to be in the range of £11.5m to £12m for the year ended 26 March 2022, ahead of analysts’ expectations, despite warning of the effects of the closure of its business in Russia. The anticipated higher earnings are reportedly due to a…
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11 April
Scotch & Soda to open London flagship store amid global expansion
Scotch and Soda has announced it will open a flagship store in London, amid a global expansion which will see the brand open a total of 20 new brick-and-mortar stores globally over the next six months. Scotch and Soda will launch its third brick-and-mortar address in London this summer. The…
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8 April
Tesco colleagues to see 5.8% pay rise to £10.10
Tesco has unveiled a £200m investment which will see Customer Fulfilment Centre (CFC) colleagues benefit from a 5.8% increase in hourly rates from £9.55 to £10.10, effective from 24 July 2022. Tesco said the pay increase is the biggest single-year investment in hourly store/CFC pay in at least a decade,…
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8 April
CD&R offers to sell petrol stations in bid to push through Morrisons deal
CD&R has offered to sell a number of its petrol forecourts in order to push through its £7bn acquisition of Morrisons and receive approval from the Competition and Markets Authority (CMA). It comes as CD&R is also the owner of the Motor Fuel Group (MFG), the largest independent operator of…
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8 April
Selfridges unveils ‘shop of the future’ concept store
Selfridges has announced its new “shop of the future” concept, ‘Supermarket’, a four-week retail experiment at The Corner Shop in its Oxford Street store. By experimenting with new ideas and models, Selfridges said it “will examine future shopping habits, with the aim of opening a conversation around consumption and physical…
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8 April
Frasers boosts shares in Hugo Boss
Frasers Group has announced it has recently increased its investment in Hugo Boss AG, and now has 1.5m shares of common stock, representing 2.1% of Hugo Boss’s total share capital. It said this investment reflects its “belief” in the Hugo Boss brand, strategy and management team. Frasers Group said it…
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