News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Mar- 2025 -21 March
In The Style rescued from administration with Alps Sourcing deal
Online fashion retailer In The Style has been sold out of administration to Alps Sourcing Limited, saving 87 jobs in the UK. The pre-pack sale of the company was negotiated by Marco Piacquadio and Alan Coleman from FTS Recovery Limited, who were appointed as joint administrators on Monday 10 March. …
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20 March
Today’s news in brief-20/3/25
The UK retail sector has faced significant challenges over the past five years, with a quarter of a million jobs lost, according to the Office for National Statistics (ONS). The latest data reveals a decline to 2.84 million retail jobs, marking a reduction of 70,000 compared to the previous year.…
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20 March
BoE holds interest rates at 4.5%
The Bank of England (BoE) has voted to hold interest rates at 4.5%, having cut the rate last month to its lowest level since June 2023. At its meeting ending on 19 March, the bank’s monetary policy committee (MPC) voted by a majority of 8–1 to maintain the rate at…
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20 March
Wickes profits fall amid decreased consumer demand
Wickes has revealed that its adjusted profit-before-tax fell to £43.6m, down from £52m, for the full year ended 28 December 2024, amid weaker consumer demand for larger ticket items and operating cost inflation. Alongside this, the company saw its total revenue fall 1% year-on-year to £1.54bn, down from £1.55bn in…
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20 March
UK consumer confidence improves in March as Gen Z set to spend
UK consumer confidence improved slightly to -35 in March, up from -37 in February, the BRC has revealed. According to the latest BRC-Opinium data, personal spending on retail rose to 0 in March, up from -5 in February. Meanwhile, personal spending overall rose to +11 in March, up from +4…
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20 March
Quarter of a million retail jobs lost in five years, ONS finds
There are now 249,000 fewer retail jobs than there were five years ago, according to the latest data from the ONS. While there were 2.88 million jobs in retail in December 2024, that was only because it is traditionally the high point of the year for the sector due to…
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20 March
Panerai appoints new chief executive officer
Luxury watch brand Panerai has announced the appointment of Emmanuel Perrin, currently head of specialist watchmakers distribution, as its new chief executive officer, effective 1 April 2025. His appointment draws on his 33 years of experience within Richemont, including roles at Cartier and Van Cleef and Arpels. Most recently, he…
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20 March
Footasylum profits soar by 188% in ‘record’ year of growth
Footasylum has welcomed a year of “record” profits and sales, with pre-tax soaring by 188% to £17.2m, up from £6m the prior year. In the year ended 25 January 2025, total revenues rose by 9.4% to £349.5m, up from £319.5m in FY24, as the group welcomed its “best-ever financial performance”.…
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19 March
Office sees profits top £100m amid improved trading and new stores
Footwear retailer Office has seen its full-year pre-tax profits more than double to £102.4m as it experienced better trading conditions and expanded its store estate. According to its latest accounts filed with Companies House, its revenues for the 52-weeks ended 30 June 2024 increased to £294.3m, up from £265.4m the…
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19 March
New TOFS owner eyes potential CVA and store closures
Modella Capital, the owner of The Original Factory Shop (TOFS), is reportedly working with Interpath Advisory on a potential company voluntary arrangement, according to Sky News. Having acquired the retailer four weeks ago with no remaining bank debt, Modella is seeking to restructure the business and is currently “exploring options”. …
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