Today’s news in brief-29/7/24

Ted Baker is reportedly considering closing all its UK stores within weeks. After entering administration earlier this year, the fashion retailer has already shut 15 stores, resulting in job losses. The brand, now owned by Authentic Brands Group (ABG), is seeking a partner to manage its UK and Europe operations.

Iceland has announced record profits for the year, driven by the popularity of its £1 value range despite challenges like high energy costs. Sales increased by 6.6%, with underlying profits rising 24% to £315.7m. The retailer added new products to its value range, boosting sales significantly.

Ocado CEO Tim Steiner has announced plans to retain Ocado Retail, the joint venture with Marks and Spencer (M&S). Despite challenges, including criticism from M&S about profitability, Ocado.com remains a fast-growing player in the UK grocery market.

The Competition and Markets Authority (CMA) has cleared supermarkets of misleading loyalty promotions, citing effective competition. However, concerns remain about high fuel prices, impacting consumers despite overall competition benefits in the grocery sector.

British Land has leased space at Crownpoint Retail Park to three healthcare providers: InHealth, CVS Vets, and MyDentist. This move reflects a growing trend of healthcare facilities at retail parks, providing community-focused services and enhancing footfall.