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 -14 November
Boohoo raises £39m through fundraiser as half-year losses triple
Boohoo has raised £39.3m through a “significantly oversubscribed” fundraising launch with shareholders after its losses tripled in its half-year results. In the half-year ended 31 August 2024, adjusted pre-tax losses widened to £27.4m, up from a loss of £9.1m the prior year. Revenues also fell by 15% from £729.1m to £619.8m.…
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14 November
CDS Superstores acquires 70 Homebase stores out of administration
The Range and Wilko owner CDS Superstores has acquired 70 Homebase UK stores after the DIY retailer collapsed into administration. Gavin Park, Gavin Maher and Adele Macleod of Teneo Financial Advisory Limited were appointed as joint administrators of HHGL Limited and Hampden Group Limited, which trade under the Homebase name.…
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14 November
WHSmith profits rise 16% to £166m in FY24
WHSmith has seen its profit before tax increase 16% to £166m in its preliminary results for the year ended 31 August. Total group revenue for the year was up 7% at £1.9bn, with a “strong” performance across the retailer’s travel, air, hospital and rail segments. The retailer said to have…
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13 November
Homebase readies to bring in administrators
Homebase are reportedly lining up administrators from Teneo to handle a pre-pack deal with The Range that will save over 1,500 jobs, Sky News has learned. While The Range is said to be readying a deal to snap up a majority of the DIY retailer’s stores, the future of the…
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13 November
Asda sales lag behind other major supermarkets, new data finds
Asda was found to trail behind all other major UK supermarkets with a 3.5% decline in sales and a 1% fall in market share over the year, new data from NIQ has revealed. It comes as supermarket sales have slowed in the four weeks to 2 November to 4% year-on-year,…
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13 November
M&S overtakes Waitrose in Middle England ahead of Christmas
Marks and Spencer has overtaken Waitrose for the first time in Middle England ahead of the Christmas season, according to the Telegraph. Unpublished market data seen by the Telegraph revealed that M&S surpassed Waitrose and every other supermarket in sales growth over the last month. According to the recent Kantar…
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13 November
Morrisons to invest £7m in Channel Island convenience stores
Morrisons has revealed its acquisition of 36 convenience stores in Jersey, Guernsey and Alderney from SandpiperCI has now been completed and also unveiled plans to invest over £7m into the estate. There are currently 19 Morrisons Daily stores and the remainder operate under the Iceland, Chequers Express and Le Cocq…
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13 November
Boots website crashes amid ‘biggest ever’ Black Friday sale
Boots’ app and website repeatedly crashed during its “biggest ever” Black Friday sale this week.According to The Telegraph, customers complained that they had been locked out of Boots’s website yesterday (12 November), while others said its app was failing to load. The website reportedly crashed for around 30 minutes before…
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12 November
Angel Central completes ground floor leasing with Therapie Clinic signing
Angel Central, the retail and leisure destination in Islington, has signed Therapie Clinic, completing the leasing of the destination’s 90,000 sq ft ground floor and coinciding with “significant” year-on-year sales and footfall growth. Joining anchor stores Uniqlo and H&M, Therapie marks a milestone moment for the destination as it reaches…
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12 November
Supermarket sales hit 2024 high as shoppers ready for Christmas
Take-home sales at the grocers increased by 2.0% over the four weeks to 3 November 2024 to reach £11.6bn, making this the biggest sales month of the year so far, according to the latest data from Kantar. The take-home sales rise coincided with a jump in the number of shopping…
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