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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Jul- 2024 -26 July
Today’s news in brief-26/7/24
Boohoo has introduced “Boohoo Brands” a new marketplace featuring over 200 labels including luxury brands like Alexander McQueen and Gucci. This move aims to consolidate its position as a leading fashion and lifestyle destination, leveraging partnerships to enhance customer choices. THG plans to cut 171 jobs across multiple divisions while…
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26 July
Hobbs to open at Trafford Centre
British womenswear brand Hobbs has announced that it is set to open at Trafford Centre this autumn. The new 4,000 square foot store, located on Upper Regent Crescent, will stock the brand’s mainline range, as well as the store’s limited-edition collections and petite ranges. Hobbs has recently re-evaluated the look…
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26 July
Boohoo launches new marketplace Boohoo Brands
Boohoo has announced the launch of its new marketplace, Boohoo Brands, as it aims to become “a one-stop destination for all fashion, beauty, and lifestyle needs”. The brand has already onboarded 200 labels, including accessories from Alexander McQueen, Balenciaga, Gucci and Valentino, clothing from Off White and Urban Bliss, footwear…
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26 July
Wayfair UK profits dip in FY23 despite cutting workforce by third
The UK arm of Wayfair has seen profits dip in its full-year results, despite cost-cutting plans that included reducing its workforce, newly filed documents have shown.In the year ended 31 December 2023, profit-before-tax fell by 3% to £2.64m, down from £2.73m the prior year. In addition, sales fell by 17%…
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26 July
THG to axe 171 roles as staff ordered to return to office full-time
THG is reportedly set to axe 171 jobs across the business whilst “insisting” that staff return to the office five days a week, The Financial Times has reported. The company is said to have told employees this week that it expected to make a total of 171 redundancies across six divisions,…
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26 July
Deliveroo partners with The Perfume Shop to boost retail offering
Deliveroo is partnering with the UK’s fragrance retailer The Perfume Shop to expand its “Deliveroo Shopping” offering. The partnership will launch in the coming months and will initially be available from 21 stores covering London, Manchester, Bristol, Birmingham, Leeds, Glasgow and Edinburgh. This partnership comes as the UK fragrance sector…
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26 July
Apollo acquires Evri from Advent International
Private equity firm Apollo Global Management entered into a definitive agreement yesterday (25 July) with Advent International to acquire parcel delivery company, Evri, for an undisclosed amount. Since relaunching as Evri in 2022, the company has strengthened its national network that has been purpose-built for third-party ecommerce parcels and its…
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26 July
JD Sports eyes job cuts at Derby distribution centre
JD Sports has confirmed that it is considering the future of a number of jobs at its Derby distribution centre. The 514,000-square-foot warehouse can be found on Derby Commercial Park, off Raynesway, and opened around three years ago. A person familiar with the situation has stated that “no final decision”…
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25 July
Today’s news in brief-25/7/24
Burberry is on the lookout for a new chair to replace Gerry Murphy amidst challenging times in the luxury goods market. Following a profit warning and CEO change, Burberry aims to rejuvenate its struggling business, highlighting ongoing difficulties exacerbated by weakened demand from the Chinese market. Hammerson remains optimistic despite…
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25 July
Lidl to invest £1.5bn in beef industry over next five years
Lidl GB has committed to invest £1.5bn into the British beef industry over the next five years, as part of its wider commitment to sourcing 100% British beef. The supermarket is launching the Sustainable Beef Group to support farmers transitioning to sustainable practices. Those in the group will be rewarded…
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