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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Oct- 2024 -31 October
Dune posts £3.9m loss amid ‘challenging’ trading
Dune has reported an operating loss of £3.9m for the 52 weeks period ended 27 January 2024, compared with operating profit of £7.6m recorded the previous year. The group’s gross profit also declined from £69m to £68.2m, while EBITDA fell from £10.9m to £4.9m. Additionally, the brand’s turnover remained flat…
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31 October
Sainsbury’s sells Argos cards portfolio to NewDay Group
Sainsbury has announced the sale of the Argos Financial Services (AFS) cards portfolio to NewDay Group. The AFS cards support around 20% of Argos sales and are held by around two million Argos customers who use Argos credit to manage the cost of their purchases. The purchase price for the…
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31 October
Ocado Group announces new chair
Ocado Group has announced the appointment of Adam Warby as an independent non-executive chair of the board. He currently serves as chair of Heidrick and Struggles InternationalInc, a provider of global leadership advisory and on-demand talent solutions. He will join the board as an independent non-executive director with effect on…
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30 October
Today’s news in brief-30/10/24
Next is on track to surpass £1bn in profits for the first time, following a strong performance in autumn. The fashion retailer revised its full-year profit guidance from £995m to £1.005bn, citing a 7.6% increase in third-quarter full-price sales, exceeding its 5.0% projection. Colder autumn weather contrasted with last year’s…
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30 October
Uniqlo to open at Liverpool One next year
Uniqlo is set to make its city debut at Liverpool One taking a 25,000 sq ft space at the shopping destination early next year. The new store will follow the retailer’s trademark “experience-led style”, showcasing Uniqlo’s signature high-quality womenswear, menswear and kidswear collections as well as its range of bags…
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30 October
Budget: Increases to employers’ NI and minimum wage
The chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging to also boost long-term growth and “mark an end to short term-ism” as part of Labour’s first budget since it came into power. Employers’ national insurance contributions…
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30 October
Majestic launches delivery partnership with Just Eat
Wine retailer Majestic has partnered with delivery partner Just Eat in order to expand its on-demand offering. The partnership has officially launched from 43 Majestic stores, including 16 shops across London, two in Edinburgh, and branches in Sheffield, Derby, Abingdon and High Wycombe. The roll-out will include a total of…
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30 October
Dreams opens new premium concept store in East Sheen
Dreams has announced the opening of its new premium concept store in East Sheen, which it said represents the “future of its retail strategy”. The new East Sheen store concept is the first of its kind that is designed specifically for smaller high street locations. Covering 4,000 square feet over…
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30 October
Next profits set to top £1bn after autumn trading boost
Next profits are set to exceed £1bn for the first time ever this year, as strong sales over autumn have pushed its full-year guidance from £995m to £1.005bn.It comes as full price sales in the third quarter rose by 7.6% against last year, 2.6% ahead of Next’s previous quarterly guidance…
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30 October
Young care leavers to make up 5% of Superdrug’s workforce by 2030
Superdrug has pledged its support of young care leavers this National Care Leavers Week – 28 October to 3 November – as it announces its ambition for care experienced young people to make up 5% of its workforce by 2030. The health and beauty retailer will also give care leavers…
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