Expansion
This coverage examines retail expansion strategies and activities within the UK market. Reporting highlights store openings, market entry plans, international growth, investment in new formats, and leadership decisions driving growth. With a focus on commercial opportunities and competitive positioning, it provides insights for executives and managers overseeing strategic development and operational rollout.
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Nov- 2023 -24 NovemberNews
Joe Browns to open new store in Leeds
Joe Browns, the fashion and homes retailer, has announced the opening date of a new store at the city’s White Rose Shopping Centre, its first store in Leeds. The 3,000 sq ft Leeds White Rose store will have its grand opening on Saturday 2 December and will showcase its own…
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22 NovemberDIY
Kingfisher lowers profit guidance amid slight sales drop
Kingfisher has lowered its profit guidance for the year after it saw its sales slip 2.1% to £3.2bn for the three months ended 31 October 2023. The company’s sales fell 2.7% on a constant currency basis and it now expects its full-year profit before tax to end around £560m down…
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22 NovemberDepartment Stores
Victoria Plumbing sees revenues and profits rise in FY 2023
Victorian Plumbing Group has reported a 26% increase in operating profits to £15.3m and a 6% increase in revenues to £285.1m, for the year ended 30 September 2023. Its gross profit was up 11% compared with last year at £134.6m and adjusted EBITDA also increased 22% to £23.8m. The group…
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21 NovemberNews
Today’s news in brief-21/11/23
AO World has reported a significant turnaround in its financials for the six months ending September 30. The company posted a profit before tax of £13m, marking a notable improvement from the previous year’s loss of £12m. AO World has adjusted its profit guidance for the fiscal year, now anticipating…
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13 NovemberNews
Today’s news in brief-13/11/23
Retail theft is projected to cost UK retailers £7.9bn in 2023, with a notable increase in employee theft. Thruvision Group plc and Retail Economics conducted the research, revealing that shoppers contribute to 60% of the theft (£4.7bn), while employees, particularly in distribution centres, contribute 40% (£3.2bn). Employee theft in DCs…
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13 NovemberLuxury Goods
Majestic Wine plans 50 new store openings
Majestic Wine is planning to expand its high street presence with the opening of 50 more stores over the next four or five years, its boss has told The Telegraph. CEO John Colley told the paper that brick-and-mortar sites will remain “sacrosanct” for the group, which has already opened 15…
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13 NovemberHigh Street
The Range losses widen to £11.7m in FY23
The Range has reported that losses have widened to £11.7m, falling more than 10% in the financial year ended 29 January 2023. Gross profit margins also dropped from 33% to 31.9% in the year, which the retailer attributed to higher costs of goods purchased and freight costs, as well as…
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10 NovemberNews
Travelex appoints new global retail director
Travelex has appointed Jackie Uhi as global retail director to drive the next stage of its retail development and international expansion. Uhi, who joins from HSBC, will be responsible for driving strategy, delivery, expansion and innovation across the company’s retail portfolio, which includes more than 1,100 stores and 900 ATMs…
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9 NovemberNews
Today’s news in brief-9/11/23
Bridgestone has invested $3m for a 5% stake in Halfords’ Avayler business. Avayler, a software-as-a-service (SaaS) provider, helps automotive companies digitise their services, from online booking to invoicing. Under a 15-year Commercial Agreement, Avayler will provide Bridgestone with access to its software products and related services for use in Bridgestone’s…
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8 NovemberNews
Today’s news in brief-8/11/23
JD Sports is facing scrutiny over a £3.5m non-compete deal with its former CEO, Peter Cowgill. This agreement, signed in September of the previous year, was intended to prevent Cowgill from working with or advising competitors for the next two years. However, it has come to light that Cowgill has…
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