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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Jul- 2022 -5 July
Seasalt abandons sale plans
Fashion chain Seasalt has abandoned plans to find a buyer, despite reportedly being close to agreeing a deal with Next, according to The Times. The company had hired advisors to explore sale options. Along with Next, investment firm Davidson Kempner were reportedly interested, but Seasalt decided to scrap the deal…
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5 July
Wickes and iSite partner to launch shoppable digital content
Wickes has partnered with iSite to launch a “unique” new home improvement space with over 130 online shoppable videos. The group said the recent launch and partnership reinforces the brand’s strategy to support project-based shopping. The new feature is said to be a “great solution” for customers, which merges content…
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5 July
Quiz returns to profit as revenues soar 97%
Quiz has welcomed a return to profitability in its full-year results as group revenue soared 97% year-on-year, with trade largely boosted by the end of social restrictions. Profit before tax hit £0.8m in the year ending 31 March 2022, up from an underlying loss of £9.6m in 2021, while EBITDA…
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5 July
Tesco launches £150m share buyback programme
Tesco has announced it has entered into an arrangement with HSBC Bank plc to repurchase shares on behalf of the company with an aggregate value of up to £150m, as part of its existing commitment to buy back a total of £750m worth of shares by April 2023. The arrangement…
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5 July
B&M welcomes Mike Schmidt as CFO
Budget retailer B&M has announced the appointment of Mike Schmidt as executive director and chief financial officer (CFO) of the Group. He will join the company no later than on the 3 January 2023. Schmidt is currently executive director and Group CFO of DFS Furniture plc, having been in that…
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5 July
The Very Group appoints CEO
The Very Group has appointed Lionel Desclée, the former president and CEO of Walmart Japan, as group CEO, effective 19 September 2022. He succeeds Henry Birch who will step down on 24 September 2022 after four and a half years in the role. Desclée has global experience across digital and…
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4 July
Grafton Group CEO to step down
Grafton Group plc has announced that Gavin Slark has informed the board of his intention to step down as chief executive officer later this year after 11 years in the role. Slark will reportedly continue in his roles as CEO and board director until stepping down from both roles on…
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4 July
St. Eval receives Queen’s Award from Lord Lieutenant of Cornwall at factory opening
St. Eval’s Queen’s Award for Enterprise in Sustainable Development was conferred upon the team at this factory opening, presided over by the Lord Lieutenant of Cornwall and the Chairman of the Council and presented to owner and creative visionary Sarah Young-Jamieson. Being awarded a Queen’s Award for Enterprise in Sustainable…
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4 July
Cost of living crisis will not curtail Brits summer spending, M&S finds
The cost of a living crisis is not dampening UK consumers’ desires to make the most of this summer, according to Marks and Spencer’s latest ‘Family Matters’ update. It found the cost of living is cited as a top concern by 82% of UK families, up 10% since the end…
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4 July
Amazon launches first UK fleet of e-cargo bikes
Amazon has announced the launch of its first fleet of e-cargo bikes and walkers in the UK, creating a new micromobility hub for sustainable deliveries in Central London, directly replacing thousands of traditional van trips on London’s roads and reducing traffic congestion. Working with the London Borough of Hackney, Amazon…
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