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 -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…
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6 December
Frasers eyes takeover deal of Norwegian sports retailer
Frasers Group has announced this morning (6 December) its intention to launch a voluntary offer for all shares in XXL ASA, a Norwegian sporting goods retailer, which has a physical and online presence in the Nordics and Australia. News comes via the Oslo Stock Exchange after Frasers “carefully considered the…
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5 December
Today’s news in brief-5/12/24
Police are investigating stalking and corporate espionage allegations from Boohoo executives, including CEO Dan Finley and co-founder Mahmud Kamani. Reports suggest the executives have been followed and watched in Manchester, London, and Kent, with Kamani allegedly assaulted and ex-CEO John Lyttle encountering trespassers. Surveillance equipment found outside Boohoo’s Manchester office…
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5 December
Aldi to open four new stores across the UK
Aldi is set to open the doors to four new stores today (5 December) as it continues its rapid expansion drive across the UK. The stores will be located at Cribbs Causeway in Bristol, Hetton-le-Hole in Tyne and Wear, Ashton-in-Makerfield in Greater Manchester, and Macduff in Banffshire, creating more than…
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5 December
Løci opens first physical space at Oxford Street’s Future Stores
Urban-lux vegan trainer and apparel brand Løci has opened the doors to its first physical shop at experiential immersive retail space Future Stores, 95 Oxford Street, London. Launched on Wednesday with a VIP evening attended by retail experts, fashion editors, influencers and shoppers, it marks the first time the brand…
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5 December
Frasers lowers profit guidance as H1 sales fall 8.4%
Frasers Group has lowered its profit guidance for FY25 to between £550m to £600m, having seen its sales fall by 8.4% to £2.45bn in the first half to 27 October. This downgrade is from an earlier boundary of £575m to £625m, as Frasers noted that recent trading conditions have been…
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5 December
Card Factory enters US market with £20m Garven Holdings acquisition
Card Factory is set to enter the US market after announcing the acquisition of Garven Holdings for $25m (£20m). The acquisition is a step in the UK retailer’s growth ambitions, thanks to the acceleration of its partnerships strategy in one of its “key” international target markets. The celebration essentials market…
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5 December
Police investigating stalking claims from Boohoo
Police are investigating claims of stalking and corporate espionage made by several executives from Boohoo, according to reports from The Times. Police forces in Manchester and Kent are looking into reports of stalking offences understood to be aimed at Boohoo group CEO Dan Finley, former boss John Lyttle and co-founder…
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5 December
Watches of Switzerland profits dip 39% despite revenue surge
Watches of Switzerland has reported a 39% decline in its profit before tax from £67m to £41m despite a 4% increase in revenues to £785m, driven by strong demand in the US. According to the group, its profits were affected by acquisition-related costs and integration efforts. For the 26 weeks…
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4 December
Today’s news in brief-4/12/24
Evri has partnered with the GMB Union to secure an industry-first pay deal that guarantees self-employed couriers insurance-backed paid sick leave. Supported by over 80% of voters, the agreement also includes festive support payments of up to £950 and subsidized insurance for death, disability, accidents, and sickness. This builds on…
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