News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Nov- 2024 -1 November
Selfridges’ owner sees losses hit £340m in FY24
Selfridges parent company Cambridge Retail Group has suffered losses of £340.3m during the period that ended 3 February 2024. However, filings at Companies House show that group sales increased 95% to £1.5bn, compared to £804m the previous year. As well as Selfridges, Cambridge Retail Group includes Shel Holdings Europe in…
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1 November
Boohoo snubs Ashley in favour of Debenhams CEO
Boohoo has announced the appointment of Debenhams CEO Dan Finley as its new CEO. The retailer has chosen to ignore the demands of Frasers Group owner Mike Ashley who demanded to be given the role. Finley, who has been with Debenhams for two years, will take up the role with…
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1 November
Castore swings to pre-tax loss of £28.8m despite sales surge
British sportswear brand Castore has reported a pre-tax loss of £28.8m for the year ended 4 February 2024 after previously recording a profit of £14.7m the prior year. The group stated that this result has been impacted by non-recurring warehouse consolidation, ongoing investment in the cost base and a challenging…
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Oct- 2024 -31 October
Today’s news in brief-31/10/24
The UK retail industry has raised concerns following Chancellor Rachel Reeves’ Autumn Budget, which aims to generate £40bn through measures like a rise in employers’ National Insurance to 15% and hikes in minimum wage rates. The British Retail Consortium (BRC) has warned that the new measures, which will add over…
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31 October
Reiss to open new store at Metrocentre
Reiss has announced that it will open a new location at Metrocentre shopping destination. The retailer will open a 3,933 sq ft space in Lower Red Mall in mid-November, stocking menswear, womenswear and accessories. Reiss will join an array of international retailers within this part of the destination, enhancing the…
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31 October
Budget reaction: Retail warns that higher costs will hamper investment
The retail industry has warned that increased costs following the Autumn Budget may hit businesses hard, with retailers facing higher costs amid new measures that come into place next April, with some warning the sector will face over £2.5bn in new costs in 2025.Yesterday, chancellor Rachel Reeves announced a series…
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31 October
Dune posts £3.9m loss amid ‘challenging’ trading
Dune has reported an operating loss of £3.9m for the 52 weeks period ended 27 January 2024, compared with operating profit of £7.6m recorded the previous year. The group’s gross profit also declined from £69m to £68.2m, while EBITDA fell from £10.9m to £4.9m. Additionally, the brand’s turnover remained flat…
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31 October
Sainsbury’s sells Argos cards portfolio to NewDay Group
Sainsbury has announced the sale of the Argos Financial Services (AFS) cards portfolio to NewDay Group. The AFS cards support around 20% of Argos sales and are held by around two million Argos customers who use Argos credit to manage the cost of their purchases. The purchase price for the…
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31 October
Ocado Group announces new chair
Ocado Group has announced the appointment of Adam Warby as an independent non-executive chair of the board. He currently serves as chair of Heidrick and Struggles InternationalInc, a provider of global leadership advisory and on-demand talent solutions. He will join the board as an independent non-executive director with effect on…
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30 October
Today’s news in brief-30/10/24
Next is on track to surpass £1bn in profits for the first time, following a strong performance in autumn. The fashion retailer revised its full-year profit guidance from £995m to £1.005bn, citing a 7.6% increase in third-quarter full-price sales, exceeding its 5.0% projection. Colder autumn weather contrasted with last year’s…
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