News-In-Brief

Today’s news in brief-26/2/25

The British Retail Consortium (BRC) has warned that one in 10 part-time retail jobs, equating to up to 160,000 roles, could be at risk over the next three years due to rising employment costs. The BRC highlighted that part-time jobs are particularly vulnerable to changes in employer National Insurance Contributions…

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Today’s news in brief-25/2/25

The UK government is set to introduce stricter measures to combat retail and street crime through a new Crime and Policing Bill, which had its first reading in the House of Commons on 25 February. The bill, expected to become law later this year, includes a new offence for assaulting…

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Today’s news in brief-24/2/25

Shein, the global online fashion retailer, saw its profits plummet by 40% to $1bn in 2024. The company faced a challenging final quarter and intensified competition from rival Temu. Shein’s declining profitability complicates its efforts to secure regulatory approval for a London listing, with some investors urging a valuation reduction…

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Today’s news in brief-21/2/25

UK retail sales saw a 1.7% rise in January 2025, driven primarily by a 5.6% surge in food sales, the largest monthly increase since March 2020, according to the Office for National Statistics (ONS). Despite this rebound, sales volumes over the three months to January fell by 0.6% compared to…

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Today’s news in brief-20/2/25

Fashion retailer Quiz has appointed administrators to its subsidiary Zandra Retail, resulting in the closure of 23 loss-making stores and the loss of around 200 jobs. Advisory firm Teneo will oversee the administration process, while Orion Retail Limited, owned by Quiz’s founding family, will acquire certain assets, including 42 stores,…

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Today’s news in brief-19/2/25

Inflation in the UK reached its highest level in 10 months, hitting 3% in January 2025, up from 2.5% in December 2024, according to the Office for National Statistics (ONS). Key drivers included rising air fares, private school fees, and food and drink prices. Air fares did not fall as…

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Today’s news in brief-18/2/25

Shein has maintained strong growth despite recent challenges, including the US removing duty-free status for low-value ecommerce packages from China and increasing tariffs. Executive chairman Donald Tang reassured investors in a letter, emphasizing the company’s ability to offer affordable fashion and lifestyle products. Tang also expressed support for de minimis…

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Today’s news in brief-17/2/25

Marks & Spencer has reinforced its international operations with three senior hires to drive its global growth strategy. Manish Kapoor, formerly of Pepe Jeans, joins as Managing Director for M&S India, while Victoria Jones, ex-Clarks executive, steps into the role of International Commercial Director. Richard Davies, previously Head of Category…

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Today’s news in brief-14/2/25

The fast fashion retailer In The Style is reportedly preparing to appoint administrators as its financial struggles deepen. Acquired by Baaj Capital for just over £1m in 2022, the company saw revenues plummet from £46m to £30.4m in the year ending March 2024, with UK sales dropping to £29m. Despite…

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Today’s news in brief-13/2/25

Fast-fashion giant Shein is relocating some Chinese supplier operations to Vietnam to circumvent U.S. tariffs imposed during the Trump administration, including a 10% levy on Chinese goods and the removal of a $800 de minimis exemption. Incentives for suppliers include procurement price hikes of up to 30%, alongside Vietnam’s lower…

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