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 -16 December
Today’s news in brief-16/12/24
Isak Andic, founder of the global fashion retailer Mango, has died at the age of 71 following a tragic hiking accident in the Montserrat mountains near Barcelona. Spanish media reported that Andic fell down a 150-metre ravine while exploring deep caves in the region. Born in Turkey and later settling…
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16 December
Sports Direct opens new 29,000sq ft store in Westfield White City
Frasers Group has opened its latest Sports Direct’s latest store in London’s Westfield White City Shopping Centre. Complementing Sports Direct’s first flagship, situated on London’s Oxford Street, the retailer’s new White City location aims to bring a “cutting-edge retail experience”. Spanning 29,000 sq. ft across two floors, Sports Direct White…
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16 December
Pour Moi HY sales hit £20m amid M&S partnership
Swimwear and lingerie brand Pour Moi saw its sales rise by 12% to £20m during the six months to 30 September, thanks to its recent partnership with M&S, according to figures seen by The Times. Over the same period, the brand’s profits jumped by 66% to £3m. The brand began…
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16 December
Mango founder dies in mountain accident
Isak Andic, founder of fashion brand Mango, has died in an accident aged 71 while exploring caves in Barcelona. Spanish media reported the 71-year-old fell down a ravine to his death while hiking in caves that are part of a mountain range. Andic reportedly fell down a 150-metre ravine while…
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16 December
Card Factory reappoints Paul Moody as chair despite diversity concerns
Card Factory has reappointed Paul Moody as its chair despite concerns from shareholders regarding the board’s diversity. At the company’s AGM in June, more than 20% of shareholders voted against a resolution to reappoint Moody as chair. Since the meeting, the company said it consulted with 12 of its largest shareholders,…
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13 December
Today’s news in brief-13/12/24
Hundreds of Harrods workers, including retail, restaurant, and cleaning staff, are set to strike on 21–22 December and Boxing Day in a dispute over Christmas bonuses and working conditions. The United Voices of the World (UVW) union said 95% of its members voted to strike after management refused negotiations. Workers…
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13 December
Sainsbury’s opens first ever airport store in Edinburgh
Sainsbury’s has announced the opening of a new 24-hour shop inside Edinburgh Airport. The new convenience store is Sainsbury’s first ever shop to be located at an airport and its arrival is part of a major revamp of the food, drink and shopping options on offer to passengers flying to…
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13 December
Consumer confidence improves marginally in December
Consumer confidence edged up in December as it increased by one point leaving “some room for optimism” despite the public being cautious with big purchases, GfK revealed. According to the latest index for the month, consumer confidence increased by one point reaching -17. Personal financial situation increased by two points…
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13 December
In The Style losses narrow amid job cuts
In The Style has revealed that it posted a loss-before-tax of £2.7m for the year ended 31 March 2024, compared with a loss of £7.7m in the previous year. Despite this, the company’s revenues fell from almost £46m to £30.4m, while UK sales were down from £42.7m to £29m over…
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12 December
Today’s news in brief-12/12/24
Central Group’s executive chair Tos Chirathivat admitted to overpaying in hindsight for Selfridges and other European luxury department stores as part of a £4bn deal in 2021. Chirathivat told the FT the price felt steep given rising global interest rates but noted the valuation may look more reasonable in a…
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