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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Sep- 2024 -3 September
Ultimate Products appoints two non-exec directors
Ultimate Products, the owner of a number of leading homeware brands including Salter and Beldray, has announced the appointment of Andrew Milne and José Carlos González-Hurtado as two new non-executive directors. The retailer has also announced that Jill Easterbrook has notified the board of her intention to step down as…
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3 September
Watches of Switzerland on track to deliver FY25 guidance
Watches of Switzerland has stated that trading for the first 18 weeks of the financial year has been in line with its expectations and that the group is on track to deliver its FY25 guidance as it makes progress against its Long Range Plan. Demand for its key luxury brands,…
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3 September
August sales jump 1% YOY despite weak back to school performance
UK Total retail sales increased by 1.0% year on year in August, against a growth of 4.1% in August 2023, despite back to school sales performing weaker than expected, according to the latest BRC-KPMG Retail Sales Monitor. The performance was above the three-month average growth of 0.4% and below the…
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3 September
Harrods sales hit £900m but profits slide £35m
Sales at Harrods have surged to almost £900m in its latest full-year results, as revenues rose by 8% to £898.4m following a continued return in overseas visitors.In the year ended 3 February 2024, initial operating profits rose slightly to £162.9m, up from £158.4m the prior year, according to new filings…
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3 September
Mango appoints new ecommerce boss while expanding to 12 new markets
Mango has announced the appointment of Marlies Hersbach as its new e-commerce executive director as the fashion group has extended its online business by entering 12 new markets. The retailer has started to operate online in 12 countries, including Angola, Belize, Brunei, Equatorial Guinea, Gabon, Gambia, Honduras, Laos, Mongolia, New…
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2 September
Today’s news in brief-2/9/24
John Lewis Partnership (JLP) has refuted recent claims of additional job cuts and management restructuring. Earlier, reports suggested management team overhauls across 34 stores could lead to more job losses beyond the 153 roles already announced last month. JLP clarified that these changes aim to enhance operational flexibility and customer…
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2 September
Asda Rewards to donate millions to UK primary schools
Asda has announced that it is making millions of pounds available to UK primary schools by encouraging families to use its loyalty programme Asda Rewards. In a new campaign fronted by Joe Wicks, the supermarket is offering to donate 0.5% of the value of any shop done at Asda until…
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2 September
Under Armour appoints Franck Denglos as VP of Commercial for EMEA
Under Armour has announced the appointment of Franck Denglos as vice president of Commercial for Europe, the Middle East, and Africa (EMEA). With 25 years of experience in the sports, lifestyle, and fashion industries, it said Denglos brings a wealth of expertise in driving commercial success and strategic growth to…
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2 September
John Lewis denies reports of further job cuts
John Lewis has denied that it is considering more job cuts and restructuring its management team, following reports over the weekend. It comes following resorts from The Sunday Times that claimed a revamp of management teams at 34 of its stores would lead to even more cuts to staff, including…
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2 September
End of tax-free shopping hitting retail hard, warns Kurt Geiger CEO
Kurt Geiger’s CEO has warned that scrapping tax-free shopping for tourists is having a “massively negative effect” on retail in the UK. According to The Times, Neil Clifford said tourists were now travelling to other European countries for their shopping after the scheme was scrapped in 2021. Under the scheme,…
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