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 -1 October
Mulberry rejects Frasers’ £83m takeover offer
Mulberry has rejected a £83m offer from Frasers to take over the company, after stating its offer “did not recognise the company’s substantial future potential value”.Frasers had made the 130 pence-per-share offer yesterday, which would see it acquire 36.8% of the handbag company. Mulberry’s board said it carefully considered the…
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1 October
Sleepeezee pre-tax profits dip to £159k in FY23
Bed retailer Sleepeezee has reported a pre-tax profit of £159,261 for the year ended 31 December 2023. According to statements filed at Companies House, the business saw its turnover fall from £39m in 2022 to £38.7m. The bed manufacturer said that retail performance was impacted by rising interest rates and…
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1 October
Dobbies to close 17 stores as it unveils restructuring plan
Dobbies Garden Centres Limited has launched a restructuring plan that will see the closure of 17 unprofitable stores to address “historically uneconomical rent costs and ensure a return to sustainable profitability”. Dobbies will close 11 main sites, and six little dobbies sites, which will impact 465 colleagues, of which 82…
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Sep- 2024 -30 September
Today’s news in brief-30/9/24
Boohoo is reportedly considering a break-up of its business, following pressure from shareholders to revive the company’s declining fortunes. Boohoo’s share price has dropped by over 85% in the last five years, and the company has faced widening losses. The board is said to be contemplating spinning off its core…
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30 September
Peak Performance opens new shop in Covent Garden
Scandinavian outdoor brand Peak Performance has opened its debut UK store in Covent Garden. Renowned for its bold design and technical innovation, Peak Performance has opened a 1,700 sq ft store in 49 Long Acre, delivering its ski and outdoor wear to the UK in a standalone space for the…
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30 September
Dreams sales jump 2.2% amid record store investment
Dreams has revealed turnover increased by 2.2% to £395.4m for the 52 weeks ending December 2023, following a period of record investment in store expansion and refits and upgrading its technology system. The specialist bed retailer said the performance was underpinned by 4.4% orders like-for-like (LFL) growth and continuous market…
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30 September
Mulberry to raise £10m amid £34m loss in FY24
Mulberry has announced a plan to raise £10m as it faces a loss before tax of £34.1m for the year ended 30 March 2024. The retailer attributed the result to reduced revenue and margin in the period, along with increased operational costs. Group revenue was down 4% to £152.8m with…
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30 September
Former Missguided owner in talks to buy Kurt Geiger
Alteri Investors, former owner of Missguided, is reportedly among a number of parties in discussions to buy Kurt Geiger, according to Sky News. City sources told Sky that the talks were at an early stage and were not being held on an exclusive basis. Several other parties are also considering…
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30 September
Boohoo considers break-up of business
Boohoo bosses are reportedly mulling a break-up of the company after shareholders have pressured the group to revive the business. According to The Times, a number of shareholders at the online retailer are understood to have urged the board to break up the group and spin off its core brands…
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30 September
Lookfantastic unveils first permanent store in Greater Manchester
THG-owned beauty retailer Lookfantastic has opened its first ever concept store in Greater Manchester. The new store features over 90 beauty brands, including exclusives such as Dermatologist-founded brand, Dr Loretta, democratised expertise, and access to expert advice from industry insiders and multi-brand specialists, in-store beauty experts, including dedicated skin health…
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