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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Dec- 2024 -20 December
Boohoo bans journalists from boardroom battle with Mike Ashley
Boohoo has reportedly blocked journalists from attending its boardroom showdown with Mike Ashley, following an ongoing battle over the fast-fashion company’s governance.According to The Telegraph, Boohoo told journalists that they will not be able to attend its annual general meeting today (20 December), where shareholders will vote on Frasers’ demands…
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19 December
Today’s news in brief-19/12/24
Amazon is preparing to settle a significant group claim from delivery drivers over working conditions, potentially costing £140m. The case, brought by Leigh Day solicitors in 2021, argued that more than 3,000 drivers, classified as self-employed, were entitled to compensation of about £10,500 annually for unpaid earnings. Drivers claimed Amazon…
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19 December
Miniso opens new store at London Stansted Airport
Miniso has announced the opening of its first-ever UK airport store at London Stansted Airport. The new Miniso-Go store offers a wide range of travel essentials alongside the brand’s collections, including collaborations with Harry Potter, Hello Kitty and Friends and Disney. The store also features everyday lifestyle essentials, beauty products,…
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19 December
BoE holds interest rates at 4.75%
The Bank of England (BoE) has voted to hold interest rates at 4.75%, following a recent hike in both inflation and wage growth. At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three members voted to reduce interest rates…
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19 December
Frasers Group given green light for new Warwickshire HQ
Frasers Group has reportedly been given planning permission to build new headquarters on green belt land in Warwickshire, according to reports from the BBC. The site will include a 100-room hotel, warehouses, research and development facilities, swimming pool and sports pitches. According to the BBC, it comes as the company…
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19 December
Birkenstock FY revenues rise 21% to €1.8bn
Birkenstock has reported that revenues rose by 21% to €1.8bn (£1.48bn) for the year to 30 September, slightly ahead of its previous guidance of 20%, due to continued “strong and growing” consumer demand for its products across the board. During the fourth quarter, Birkenstock’s revenues also rose 22% to €456m…
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19 December
Burberry appoints Moncler exec as new board member
Burberry Group has announced the appointment of Stella King to the board as an independent non-executive director and member of the nomination committee, with effect from 1 April 2025. King is currently at Moncler which she joined thirteen years ago in 2011 as president, Asia Pacific. In 2022 she moved…
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19 December
Amazon to settle delivery driver dispute worth potential £140m
Amazon is reportedly preparing to settle a group claim from delivery drivers who claimed the retail giant deprived them of thousands of pounds in earnings.According to The Guardian, lawyers involved in the case said the settlements could cost Amazon a total of £140m. Drivers who deliver for the company through…
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18 December
Aldi to invest £650m in expansion plans in 2025
Aldi is set to invest around £650m across the UK in 2025 as part of the group’s ongoing expansion plans. This includes the development of new stores in Fulham Broadway in London, Billericay in Essex, and Cheadle in Stoke-on-Trent, with the supermarket targeting around 30 new store openings next year.…
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18 December
Shoe Zone halves profit guidance and warns of store closures
Shoe Zone has halved its profit expectations for the year to 27 September 2025, downgrading it to “no less than” £5m, down from the previous guidance of £10m. It comes as the high street shoe retailer experienced “very challenging trading conditions” for the first two months of FY25 and the…
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