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 -6 November
Today’s news in brief-6/11/24
Marks & Spencer (M&S) reported a strong half-year performance, with profits rising 17.2% to £407.8m for the period ending 28 September 2024. Revenue increased by 5.7% to £6.48bn, attributed to the company’s “Reshape M&S for Growth” strategy. Food sales grew 8.1%, while Clothing and Home sales rose by 4.7%. Despite…
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6 November
Salomon debuts in UK with two London stores
Mountain sports lifestyle brand Salomon is debuting in the UK with the launch of two new London stores. The first 3,628 sq ft store located in The Yards, part of Covent Garden, has already opened its doors while a second location in Soho is set to open on 14 November. …
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6 November
Hugo Boss sales remain flat in Q3
Hugo Boss reported flat sales to €1.02bn (£833m) in Q3 2024 despite ongoing macroeconomic and geopolitical uncertainties. In light of the slowdown in sales, the group’s operating profit declined 7% with EBIT amounting to €95m (£79m) in the third quarter. Over the first nine months of 2024, currency-adjusted group sales…
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6 November
Zalando Q3 revenues rise 5% to £2bn
Zalando has reported that revenues rose 5% to €2.4bn (£2bn), with adjusted EBIT climbing from €23m (£19.1m) to €93m (£77.5m) in the third quarter. It comes as gross merchandise volume (GMV) rose by 7.8% to €3.5bn (£2.9bn) against the same period last year. The group’s active customer count also increased…
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6 November
M&S profits rise by 17% in half-year results
M&S has welcomed “further progress” in its half-year results as profit-before-tax rose by 17.2% to £407.8m for the half-year ended 28 September 2024. Alongside this, the company’s revenues rose 5.7% to £6.48bn, up from £6.13bn in the same period last year, attributing its ‘Reshape M&S for Growth’ strategy to the…
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6 November
Aldi to open 11 new UK stores ahead of Christmas
Aldi is set to open 11 new stores across the UK between now and Christmas. New stores in Sedgley in the West Midlands and Castle Douglas in Scotland are set to open this week, while Horsham in West Sussex and Muswell Hill in London are also gearing up to welcome…
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5 November
Today’s news in brief-5/11/24
Primark’s profits surged by 51% to £1.1bn in FY24, as its parent company, Associated British Foods, credited a significant rise in profitability and returns amid ongoing investment efforts. Total group sales grew by 6% to £9.4bn, despite summer fashion sales being dampened by poor weather in H2. Notably, Primark reported…
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5 November
Sosandar signs licensing agreement with Next for homeware range
Women’s fashion brand Sosandar has announced it has signed a licensing agreement with Next for a Sosandar homeware range. Following the success of Sosandar’s clothing range sold through Next, Next is extending its partnership to licensing the Sosandar brand to develop a homeware range. Next is one of the largest…
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5 November
Primark profits rise by 51% to £1.1bn in FY24
Primark has seen its operating profits soar by 51% to £1.1bn in the year ended 14 September 2024, as the group hailed a “substantial” improvement in profitability and strong returns amid ongoing investment. Associated British Foods reported that sales for the group rose by 6% to £9.4bn over the year,…
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5 November
Retail sales see weak growth in October amid pre-budget uncertainty
Total retail sales in the UK nudged up by only 0.6% in October, compared with a growth of 2.6% in October 2023, as retail was hit by ongoing uncertainty surrounding the autumn budget, the BRC has reported. The BRC also attributed this slowdown to the fact that the October half-term…
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