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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Aug- 2024 -5 August
TikTok Shop ups UK seller fees
TikTok has revealed that it is raising seller fees on its UK TikTok Shop platform from 5% up to 9% from 2 September onwards. Alongside this, the company will launch the Seller Missions programme, giving sellers the opportunity to reduce their fees if they create a target number of TikTok…
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5 August
Authentic names new Ted Baker licensing partners
Authentic Brands Group has announced that it has established three foundational licensing partners for Ted Baker, securing the future of the brand in the US and Canada. The new lineup includes the United Legwear and Apparel Co. (ULAC), BCI Brands and Peerless Clothing. United Legwear and Apparel Co. will design…
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5 August
Alo Yoga unveils second store on Regent Street
US luxury activewear brand Alo Yoga has announced the opening of its new flagship store on London’s Regent Street. The news comes after the brand launched its first store on King’s Road last November. The new Regent Street flagship store spans 10,000 square feet and features a complete range of…
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5 August
Seasalt profits and sales soar amid portfolio expansion
Seasalt has seen its full-year profits and sales rise “markedly” as more bricks-and-mortar stores were added to its high street estate.The Cornish clothing brand saw turnover rise by 12% to £132.6m in the year ended 27 January, The Sunday Times reported. This was largely boosted by in-store sales, which rose…
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5 August
Ferragamo net profits plummet 73% in H1
Ferragamo’s net profits plummeted 73% to €6m (£5.1m) for the first half of the year ended 30 June 2024. In Q2 2024, total revenues for the luxury retailer amounted to €296m (£253m), down 6% at constant exchange rates, penalised by a “weak” Asian market and wholesale environment. In H1, group…
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2 August
Northhome to open new store in Victoria Quarter’s County Arcade
Independent home décor store Northhome will be upsizing and relocating to Victoria Quarter’s County Arcade. Building on the success of its initial pop-up and subsequent debut site at the destination, Northhome’s latest announcement marks the brand’s third upsize within the space of four years. Set to open in October, Northhome’s…
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2 August
Footfall falls for 12th consecutive month
Total UK footfall decreased by 3.3% in July (YoY), down from -2.3% in June, marking the 12 consecutive month of decline. It comes as high street footfall actually increased by 2.7% in July (YoY), up from -3.1% in June. However this was offset as retail Park footfall decreased by 0.8%…
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2 August
Network Rail retail sales jump 12.6% in Q4
Network Rail retail sales have increased 12.6% in Q4 across the portfolio of 19 managed stations throughout Great Britain. During the same quarter, the British Retail Consortium (BRC) tracked 2% growth in like-for-like sales highlighting a strong performance at Network Rail destinations. Great British Railways Transition Team (GBRTT) figures show…
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2 August
Apple revenues rise 5% to ‘record’ $85.8bn in Q3
Apple has reported that revenues rose by 5% year-over-year to a “record” $85.8bn (£67.3bn) in the third quarter ended 29 June. Quarterly earnings per diluted share also hit $1.40 (£1.10), showing an 11% year-on-year rise. Tim Cook, CEO of Apple, said: “During the quarter, we were excited to announce incredible…
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2 August
Hugo Boss sees profits and revenues fall in Q2
Hugo Boss has reported a 42% drop in operating profit (EBIT) to €70m (£59m) in Q2 2024 due to lower revenues in the three month period as well as higher operating expenses. Its sales also dropped by 1% to €1.01bn (£858.5m) and EBIT margin decreased by 490 basis points to…
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