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 -12 November
Majestic Wine partners with The Range for new Plymouth opening
Majestic Wine has partnered with The Range to launch its first store in Plymouth. The wine retailer opened the doors to the 4,400 sq ft shop on the ground floor of The Range’s head office in Derriford, after signing a deal to sublet space within the building. The store is…
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12 November
Apparel Brands acquires kidswear brand Hype
Apparel Brands has announced its acquisition of kids backpack and streetwear label, Hype, for an undisclosed amount. As a result of this deal, Hype will begin a new strategic direction that aims to turn it into a “leading” brand for kids and families. Meanwhile, the acquisition strengthens Apparel Brands’ position…
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12 November
Asda appoints interim vice president of online
Asda has announced the appointment of Barney Burgess as vice president of online on an interim basis until David Devany joins the business next year. Barney brings over 25 years’ broad expertise across retail, consumer and financial services sectors, both in the UK and internationally. This includes five years running…
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11 November
HMV to expand into book sales
HMV is set to embark on a new chapter as it expands into the sale of books this November. The move marks the retailer’s first major foray into literature as a standalone offering within its retail space. HMV is devoting an entire floor of its flagship store to its newest…
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11 November
Tesco to face £1bn increase to NI bill following Labour’s Budget
Tesco is expecting to see an increase of £1bn in its national insurance bill over the next four years following Labour’s Autumn budget, according to the Times. The chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging…
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11 November
Asda eyes more job cuts as Q3 sales fall 4.8%
Asda is reportedly planning further job cuts after confirming last week that some 475 roles in its Leeds and Leicestershire offices will be made redundant, according to The Telegraph. It comes as the retailer has reported a 2.5% decline in total revenues in the third quarter to £5.3bn excluding fuel,…
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11 November
Boohoo excludes Frasers from shareholder meetings amid ongoing row
Boohoo is reportedly set to meet its shareholders this week, but is excluding a meeting with majority shareholder Frasers Group amid an ongoing row between the two companies over its governance.According to The Times, newly-appointed CEO of Boohoo, Dan Finley, is understood to be meeting some of the company’s biggest…
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11 November
Ikea profits rise despite sales falling 8.9% in FY24
Inter Ikea, owner of the Swedish furniture brand, has reported higher profits despite a decline in revenues during the year that ended on 31 August 2024. In the retail segment, revenues for the group were down 8.9% to €26.5bn (£21.9bn), compared to €29bn (£24bn) in FY23. Meanwhile, operating profit slightly…
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8 November
Haribo to open new shop at Bluewater in 2025
Haribo UK is set to open its 11th UK retail store at Bluewater in early 2025. The news comes after the success of last year’s Hide N Seekers event, which saw Haribo bringing the UK’s largest ball pit, fully stocked with prizes and treats, to the UK’s fifth largest shopping…
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8 November
Sainsbury’s CEO warns NI contributions will cause spike in prices
Sainsbury’s CEO Simon Roberts has warned that the rise in employer’s national insurance contributions announced in the Autumn Budget will cost the supermarket £140m, Sky News has reported. Roberts said that the rise of NI would cause inflation to be higher than originally predicted and that Sainsbury’s won’t have the…
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