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.
-
Dec- 2024 -10 December
Pepco Group suffers £675m Poundland hit
Pepco Group has reported a £675m impairment charge on its UK subsidiary Poundland, as a result of “a significant decline in performance in FY24 and weaker outlook for profitability amid increasing competition and cost challenges”. The charge primarily reflects the goodwill from Pepco Group in relation to the Poundland acquisition.…
Read More » -
10 December
Castore appoints new commercial operations lead
Sportswear brand Castore has announced the appointment of Danny Downs to lead the company’s commercial operations as it strengthens its senior executive team. Downs brings 15 years of expertise from his time at Fanatics International where he was head of commercial development and the company’s first general manager with experience…
Read More » -
10 December
Supermarket sales to hit £13bn over Christmas
Supermarket sales are expected to exceed £13bn over the four weeks of December for the first time ever, according to the latest data from Kantar. The news comes as take-home sales at the grocers increased by 2.5% over the four weeks to 1 December 2024 as shoppers get ready for…
Read More » -
9 December
Caffè Nero bolsters Waitrose and John Lewis partnership
The Nero Group, the family-owned operator of Caffè Nero, has secured new partnerships with Waitrose and John Lewis, which will see the coffee chain open sites in five Waitrose stores. The partnership will also see the opening of the first Caffè Nero in a John Lewis store in White City,…
Read More » -
9 December
Boohoo calls on shareholders to reject Mike Ashley’s board bid
Boohoo has urged its shareholders to vote against Mike Ashley’s board appointments ahead of its AGM on 20 December. In an update posted this morning, Boohoo revealed that independent proxy adviser Institutional Shareholder Services (ISS) has recommended shareholders vote against Fraser’s bid for board representation which would see Ashley as…
Read More » -
9 December
J. Crew appoints new chief marketing officer
Omnichannel retailer J. Crew has appointed Julia Collier as the new chief marketing officer of the group. Collier was most recently senior vice president of marketing at Skims where she ran brand marketing and creative. She will now start her new role on 6 January 2025. In her new role,…
Read More » -
6 December
Quiz appoints advisors amid disappointing November sales
Quiz has appointed advisors to review its financing and strategic options after it reported a 5.7% decline in revenues to £24.9m for the four-month period from 1 August to 30 November 2024. It warned that given the disappointing level of revenues during the key trading month of November the cash…
Read More » -
6 December
M&S gets go ahead for Marble Arch redevelopment site
Marks and Spencer has been given the green light for the redevelopment of the M&S store at Marble Arch. After a three-year battle, deputy prime minister Angela Rayner has approved the plans for the retailer to rebuild the store after they were initially submitted to Westminster City Council in 2021. …
Read More » -
6 December
Ex-Boohoo CEO left amid stalking concerns
Ex-Boohoo CEO John Lyttle resigned from his post in October amid claims he was being stalked alongside several other Boohoo employees. The former boss is thought to have mentioned the stalking and surveillance concerns as reasons for his departure, according to reports from The Times. It comes as police forces…
Read More » -
6 December
Morrisons CEO urges gov to rethink budget costs
Morrisons’ CEO has called on the government to stagger its “avalanche” of business costs following the latest budget.Speaking to The Sun, Rami Baitieh urged Labour to consider the costs of National Insurance changes, business rates rises and the increase in minimum wage. He told the paper that National Insurance changes…
Read More »
