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- 2023 -28 April
Gap to lay off 1,800 jobs as part of restructuring plan
Gap Inc is set to eliminate approximately 1,800 jobs from its global workforce as part of a broad restructuring plan,…
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28 April
Skechers to acquire Scandinavian distributor
Skechers has announced that it has signed an agreement to acquire its existing Scandinavian distributor, Sports Connection Holding Aps. The…
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28 April
Amazon beats Q1 expectations but warns of slowed cloud growth
Amazon has beaten analysts’ expectations in the first quarter of trading, as revenues rose by 9% to $127.4bn (£102bn) against…
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28 April
Ebay launches new furniture hub to encourage pre-loved shopping
Ebay has launched a new online hub that will serve as a curated destination designed to help shoppers “consider pre-loved…
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27 April
Asda and EG merger threatens food supply and jobs, says GMB
The merger between Asda and petrol forecourt business EG Group will threaten the UK’s food supply, fuel prices and 100,000…
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27 April
Retailers not likely to benefit from King’s Coronation, GlobalData finds
Retailers may not reap significant benefits from the King’s Coronation as consumers are more likely to use it as a…
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27 April
Sainsbury’s posts fall in profits amid consumer cost measures
Sainsbury’s has seen its statutory pre-tax profits drop 62% to £327m, down from £854m the previous year, during the 52-week…
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27 April
Boohoo appoints John Goold as new board member
Boohoo has announced the appointment of John Goold to its board as an independent non-executive director. Goold will become chairman…
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27 April
Kering Q1 revenues hit €5bn amid ‘mixed’ results
Luxury goods company Kering has reported revenues of €5bn (£4.4bn) in its first quarter, up 2% on a reported basis…
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27 April
Hotel Chocolat warns sales to be lower than expected in FY23
Hotel Chocolat has reported that it expects sales in FY23 to be slightly lower than market expectations and that underlying…
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