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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Dec- 2024 -12 December
Gloucester Quays completes 11 renewals in 2024
Gloucester Quays has announced 11 renewals as part of 20 leasing deals this year, forming over 44,000 sq ft of space. The deals bolster its position as a top 10 UK outlet and the destination of choice for brands to open, upsize, renew, and refit their stores. Amongst the 11…
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12 December
Shein IPO could be delayed over supply chain checks
Shein’s London IPO could be set to be delayed after the FCA is taking longer than usual to give its go ahead as it takes its time to assess the fast fashion retailer’s supply chains, according to Reuters. The FCA is reportedly looking into Shein’s supply chain after receiving a…
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12 December
Debenhams has ‘greater value’ than current group valuation, says Boohoo CEO
Boohoo group CEO Dan Finley has said that Debenhams single-handedly brings “greater value” than the market cap of the rest of the Boohoo brands, reaffirming his confidence in the group and how he thinks the brand is currently undervalued. In a video posted on the boohooforall website, Finley said: “I…
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12 December
Selfridges co-owner admits £4bn price was ‘too high’
Tos Chirathivat, the executive chair and CEO of Thai family conglomerate Central Group, said in a conversation with The Financial Times that it may have overpaid for its acquisition of Selfridges and other European luxury department stores as part of a £4bn deal in 2021. According to Chirathivat, whose group’s…
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12 December
Currys HY losses narrow as it warns of price rises
Currys has posted a loss before tax of £10m for the half year ended 26 October 2024, up from £44m in the same period last year. Alongside this, the company posted a revenue of £3.9bn, up 1% year-on-year and driven by a like-for-like revenue increase of 2%. As part of…
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11 December
Zara owner Inditex misses expectations despite 7% surge in revenues
Inditex, the owner of fashion brands Zara, Stradivarius and Berksha, has seen its shares slide 6% in trading after its performance in the first nine months of the year came in below analysts expectations. Inditex reported revenues for the period of €27.4bn (£22.6bn) up 7.1% YOY and revealed that sales…
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11 December
Zalando to acquire About You in €1.2bn deal
Zalando has announced its intention to submit a voluntary public offer to acquire up to 100% of German retailer About You Boutique’s share capital in a €1.2bn (£900m) deal. The deal will bring together two founder-led teams with “a strong cultural fit and complementary capabilities”. In turn, About You’s management…
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11 December
Walgreens takeover bid could trigger Boots auction
A $10bn plus takeover bid for Walgreens Boots Alliance (WBA) from private equity firm Sycamore Partners could lead to an auction of Boots, according to reports from Sky News. Should Sycamore be successful in taking over the pharmacy chain it will reportedly look to separate ownership of Boots. The Wall…
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10 December
Today’s news in brief-10/12/24
Supermarket sales are set to surpass £13bn in December for the first time, boosted by festive spending and rising grocery prices. Data from Kantar reveals take-home grocery sales climbed 2.5% in the four weeks to 1 December. The average Christmas dinner for four has risen 6.5% to £32.57, largely due…
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10 December
Rituals opens new store at The Liberty Romford
Beauty and wellbeing brand Rituals has opened its new store at Redical-operated The Liberty Romford shopping center. The 1,162 sq ft store stocks the brand’s full range of “luxurious yet affordable” wellbeing products for bath, body and home. Inspired by ancient wisdom and traditions, the certified B Corp brand has…
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