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.
-
Nov- 2024 -4 November
Schuh profits rise by 56.8% to £21m in FY results
Schuh has reported that pre-tax profits rose by 56.8% to £21m in the year ended 3 February 2024, as sales and footfall were both on the rise. In its recently filed accounts with Companies House, the footwear retailer reported that turnover increased 7.4% to £380.8m and EBITDA reached £28m, a…
Read More » -
4 November
Mike Ashley dubs Boohoo ‘desperate’ after CEO snub
Mike Ashley has called Boohoo’s decision to appoint a CEO from within “desperate”, after the fast-fashion retailer rejected Frasers’ demands to appoint Ashley as leader of the group.Following the internal promotion of Debenhams CEO Dan Finley to lead Boohoo, Ashley told the Sunday Times: “Independent shareholders be warned, desperate people…
Read More » -
4 November
Sainsbury’s becomes first grocer to match Aldi prices in convenience stores
Sainsbury’s has announced that it has extended its Aldi price match scheme into its convenience stores, becoming the first supermarket to do so. The price match offer is now available for all Sainsbury’s customers whether shopping online or in one of over 1,400 stores. It includes daily staples like milk,…
Read More » -
4 November
Mohsin Issa backs GoThrift through new start-up investment fund
Asda co-owner Mohsin Issa, and his partner Victoria Price, have reportedly taken a significant stake in Manchester-based secondhand clothing website, GoThrift, to back its expansion, according to The Telegraph. GoThrift runs an online fashion store where shoppers can buy vintage clothing. It was originally founded by three friends in 2019…
Read More » -
4 November
Harvey Nichols appoints new creative director
UK luxury fashion and beauty retailer Harvey Nichols has announced the appointment of Kate Phelan to the newly created role of creative director, with immediate effect. Phelan, one of Britain’s “most esteemed” stylists, is regarded as a “pivotal” figure in the modern British fashion scene. She began her career at…
Read More » -
1 November
Today’s news in brief-1/11/24
Boohoo has appointed Debenhams CEO Dan Finley as its new chief executive, rejecting calls from Frasers Group owner Mike Ashley to assume the role. Finley, who has led Debenhams for two years and previously spent a decade at JD Sports, is praised by Boohoo’s board for his digital retail expertise…
Read More » -
1 November
Castore opens new Manchester store
Sportswear brand Castore has announced the opening of its brand-new store in Manchester’s Arndale Centre on 31 October. Located just off Exchange Court, the new 1,072sq ft space showcases Castore’s men’s and women’s performance sportswear in the heart of the brand’s home city. The store features Castore’s full range of…
Read More » -
1 November
Amazon Q3 beats expectations as net income hits $15bn
Amazon has revealed it has beaten its Q3 expectations as its revenues surged 11% to $158.9bn (£123.3bn), beating analyst predictions of $157.2bn (£121.9bn), while its net income hit $15.3bn (£11.9bn), up from $9.9bn (£7.7bn) last year. It comes as the retail giant noted that North America segment sales increased 9%…
Read More » -
1 November
Selfridges’ owner sees losses hit £340m in FY24
Selfridges parent company Cambridge Retail Group has suffered losses of £340.3m during the period that ended 3 February 2024. However, filings at Companies House show that group sales increased 95% to £1.5bn, compared to £804m the previous year. As well as Selfridges, Cambridge Retail Group includes Shel Holdings Europe in…
Read More » -
1 November
Boohoo snubs Ashley in favour of Debenhams CEO
Boohoo has announced the appointment of Debenhams CEO Dan Finley as its new CEO. The retailer has chosen to ignore the demands of Frasers Group owner Mike Ashley who demanded to be given the role. Finley, who has been with Debenhams for two years, will take up the role with…
Read More »
