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 -18 November
Frasers lines up former FRC boss as chair
Frasers is reportedly lining up former Financial Reporting Council (FRC) boss Sir Jon Thompson to replace David Daly as its chairman sometime next year, according to Sky News. The outlet reported that while the move has yet to be officially announced, its sources believe it is more than likely to…
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18 November
Shein targets early 2025 for London IPO
Shein is reportedly targeting an early 2025 launch for its listing on the London Stock Exchange, according to reports from The Times. Insiders with knowledge on the topic stated that the company was gearing up to launch an official investor roadshow during the coming weeks. As such, meetings will be…
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18 November
Go Outdoors swings to pre-tax loss of £1.5m
JD Sports-owned brand Go Outdoors has reported a pre-tax loss of £1.5m for the 53 week period ended 3 February 2024. The group attributed its pre-tax loss to a disproportionate increase in costs compared with the previous period due to increased staffing and distribution costs, reflecting national wage changes and…
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18 November
Boohoo faces criticism after reviving ties with controversial supplier
Boohoo is reportedly facing growing criticism after reinstating a supplier it had previously cut ties with amid a modern slavery scandal. According to an investigation from The Telegraph, the Leicester-based GN Euro is again supplying womenswear to the online retailer, despite being struck off in 2021, after Boohoo was hit…
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18 November
Sephora to open 20 more UK stores by 2027
Sephora has plans to open a further 20 stores in the next two to three years across the UK, The Times has reported, as CEO Guillaume Motte aims to double the beauty retailer’s presence in Britain. As well as committing to more brick-and-mortar stores, Motte wants to expand Sephora’s online…
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18 November
AllSaints set to continue global expansion with new store openings
AllSaints, the global contemporary fashion brand, is set to continue to expand globally with the opening of new stores in the UK, United States, Europe and Asia. In London, the brand is set to open a new store on Brompton Road on 22 November. AllSaints has also expanded its reach…
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15 November
Today’s news in brief-15/11/24
The UK economy stagnated in Q3 2024, with GDP rising just 0.1%, a sharp slowdown from 0.5% growth in Q2. The services and construction sectors saw modest gains, but production shrank. Nominal GDP increased by 0.8%, driven by rising employee compensation. Economic uncertainty, partly due to the upcoming budget, hindered…
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15 November
Sephora opens new store in Birmingham
Sephora UK has opened a new beauty retail destination in the West Midlands’ shopping heartland, Birmingham’s Bullring and Grand Central. The latest beauty store from the retailer is the sixth store to open in the UK as well as the first in the region. The new store in Birmingham is…
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15 November
UK economy stagnates in three months to September
UK gross domestic product (GDP) is estimated to have stagnated during the third quarter of the year as uncertainty ahead of the budget affected decision making, according to the latest figures from the Office For National Statistics. The ONS found that UK GDP increased by 0.1% in Quarter 3 (July…
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15 November
B&M revenues rise 3.7% to £2.6m in H1
B&M has reported that group revenues rose by 3.7% to £2.6m for the 26-week period to 28 September, as UK revenues also reached £2.1m during the period. It comes as the retailer’s total UK sales growth improved across the half by 6% in the second quarter, spelling an appreciable increase…
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