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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Nov- 2024 -25 November
Kingfisher lowers profit guidance amid flat Q3 sales
Kingfisher has lowered its full-year profit guidance after posting flat sales of £3.2bn for the three months ended 31 October, a 0.6% decline. As a result of this, the company expects its adjusted PBT guidance to be in the range of c.£510m to £540m, previously c.£510m to £550m. The B&Q…
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25 November
Boohoo secures lender consent for £39m fundraiser
Boohoo has confirmed it has secured lender consent from its lenders for a recent £39.3m fundraiser, after announcing an oversubscribed placing earlier this month. An application has now been made to the London Stock Exchange for admission of 126,908,442 new ordinary shares to trading on AIM. Dan Finley, CEO of Boohoo,…
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25 November
Asda appoints ex-CEO as new chair
Asda has announced the appointment of former CEO Allan Leighton as new executive chair, succeeding Stuart Rose who has served as chair since 2021. Leighton has led a number of UK and international consumer businesses, including serving as a chief executive of Asda from 1996 to 2001, president of Loblaw…
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22 November
Saint + Sofia opens first physical store in Covent Garden
Contemporary womenswear brand Saint + Sofia has opened its debut bricks and mortar store in Covent Garden’s Seven Dials. After building significant commercial success online, Saint + Sofia makes its entrance to physical retail in a 1,600 sq ft flagship store in the heart of Covent Garden’s Seven Dials, at…
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22 November
DFS names interim CFO as it sees improved trading
DFS has announced it has appointed Marie Wall as interim chief financial officer reporting to chief executive officer, Tim Stacey. Wall, who will start her role on 2 December, has previously held senior finance roles at Imperial Brands, Wolseley and Dixons Carphone. Following the announcement on 17 October 2024, DFS…
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22 November
Currys unveils UK&I store upgrades ahead of Xmas trading
Currys has announced a range of upgrades to its UK and Ireland stores ahead of the Golden Quarter trading period, as it seeks to create a more seamless shopping experience for customers. These enhancements come on the back of Currys’ store refurbishment programme, which saw 50 superstores and 42 megastores…
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22 November
UK consumer confidence rises post-budget
UK consumer confidence increased three points to -18 in November, according to GfK’s long-running index. The survey revealed that all measures were up in comparison to last month’s announcement. The index measuring changes in personal finances during the last year was up one point at -9. Meanwhile, the survey revealed…
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22 November
Retail sales dip by 0.7% in October
Retail sales have dipped in October by 0.7% following a rise of 0.1% in September, the ONS has revealed. New figures released today (22 November) show that when compared with their pre-coronavirus pandemic level in February 2020, volumes were down by 1.5%. However, over the year to October 2024, sales…
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21 November
Today’s news in brief-21/11/24
Boohoo has appointed Tim Morris as its new independent Chair, effective immediately, marking another milestone in the company’s ongoing restructuring. Mahmud Kamani, the founder, transitions to the role of executive vice chair while waiving his salary for a year. This change aligns with Boohoo’s broader strategy to improve governance and…
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21 November
Superdry warns of sales decline following stock exchange departure
Superdry has warned that its sales for the current financial year will continue to fall, following its departure from the London Stock Exchange to focus on its new restructuring plan. In documents filed with Companies House for the 52 week period ended 27 April 2024, the group reported a 22%…
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