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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Nov- 2024 -29 November
Kingfisher and M&S eye remaining Homebase sites
Kingfisher and Marks and Spencer are reportedly eyeing more than 20 of Homebase’s stores after the DIY company fell into administration earlier this month.According to Sky News, the two companies are among several retailers circling the remaining Homebase estate ahead of a deadline for offers today (29 November). The two…
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29 November
Waitrose opens first convenience store in six years
Waitrose has opened its first convenience store in six years in Hampton Hill, London, and announced a further push into the convenience market by building on partnerships with Welcome Break and Shell. The supermarket is to target more new locations under its franchise with the operator with stores opening on…
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28 November
Today’s news in brief-28/11/24
Consumer confidence remains subdued as the festive season nears, according to the British Retail Consortium (BRC). While personal retail spending rose slightly to +3 in November from +2 in October, and overall spending expectations stayed at +17, worries about the broader economy persist. Financial expectations improved marginally to -3, but…
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28 November
Footasylum opens upsized store at Merry Hill
Streetwear retailer Footasylum has launched its upsized store at Merry Hill shopping centre, tripling its footprint. Combining its existing unit with the adjacent space, Footasylum has expanded its presence at Merry Hill from 3,000 to 10,000 sq ft. The upsized store introduces innovative features, including a mobile payment system that…
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28 November
Consumer confidence remains weak as Christmas approaches
Consumer confidence remains weak in the run up to Christmas, according to the the British Retail Consortium (BRC)-Opinium Consumer Sentiment Monitor. It comes as the survey found that consumer’s expectations for their personal financial situation improved slightly to -3 in November, up from -4 in October. Meanwhile, their expectations for…
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28 November
Dr. Martens swings to £28.7m half-year loss as sales fall
Dr. Martens has fallen to a profit loss of £28.7m in its half-year results, down from a profit of £25.8m the prior year, amid falling sales over the period.In the period ended 29 September 2024, revenues were down by 18% to £324.6m, in line with its guidance for a 20%…
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28 November
Morrisons to cease deliveries from Ocado’s Erith centre
Morrisons has announced that it will gradually cease deliveries from Ocado’s Erith Customer Fulfilment Centre (CFC). Ocado has said that the decision comes as Morrisons has decided to process a greater share of its online deliveries through Dordon CFC and with in-store fulfilment. This also means that Ocado Retail will…
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28 November
John Lewis ‘worried’ about increase in National Minimum Wage
John Lewis has told the Telegraph that it is “worried” about the impact of Rachel Reeve’s decision to increase the National Minimum Wage. As part of the budget, the chancellor confirmed that the National Minimum Wage for 18 to 20-year-olds will rise 16.8% from £8.60 to £10, while pay for…
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28 November
Very Group losses widen in Q1
The Very Group has revealed that its loss-before-tax rose to £22.9m in the 13 weeks ended 28 September 2024, an increase of £5.8m. Alongside this, Very saw its sales fall 5% to £450.2m, with revenue for Very UK falling 3.8% to £392.1m and Littlewoods revenue down 14.4% to £45m. Very…
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27 November
Today’s news in brief-27/11/24
The House of Lords Built Environment Committee has urged high streets to evolve beyond retail to reverse their decline. Its report highlights over 10,000 store closures in 2023, emphasizing that the traditional dominance of retail is outdated. Instead, demand is shifting towards leisure, dining, and public services such as health…
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