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 -18 July
Dunelm FY profits ahead of expectations amid strong Q4
Dunelm has revealed it expects profits for the full year to be ahead of expectations after it saw a strong end to Q4. The homewares retailer has seen its total sales for the year grow 4% to £1.7bn driven by volume despite a “challenging consumer environment”. PBT is now expected…
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17 July
Berghaus to open new store in Gloucester Quays
Outdoor brand Berghaus has signed a new location at Gloucester Quays for its second standalone UK store. Launching this summer in a 2,117 sq ft store opposite Adidas, the outdoor brand will cater to activities including walking, mountaineering, and climbing, with a wide selection of clothing, footwear and equipment for…
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17 July
Starmer vows to ‘make work pay’ in King’s Speech
The new Labour government has outlined its main goals for the new parliament as part of the King’s Speech today (17 July) with a central focus of “ improving living standards for working people through economic growth”. Key points outlined in the speech, read by the King but written by…
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17 July
Inflation holds steady in June despite rise in hotel prices
Inflation remained steady at 2% in June despite a strong rise in hotel prices during the month, according to the latest figures from the Office for National Statistics (ONS). It comes as prices for restaurants and hotels rose by 0.9% between May and June this year, compared with a lower…
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17 July
The Perfume Shop profits fall despite rise in revenues
The Perfume Shop has reported a fall in profits from £23.7m to £21.4m despite a 4.6% rise in revenues to £302.4m for the 52-week period ending 30 December 2023. Its profit after tax also dipped to £15.4m. The group stated that consumer sentiment remains subdued as inflationary pressures and high…
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17 July
Adidas raises FY guidance following ‘better-than expected’ trading
Adidas has raised its full-year guidance following “better-than-expected” performance during the second quarter of the year. Preliminary results show that the sportswear brand operating profit in Q2 increased to €346m (£290m), up from €176m (147m) in 2023, including a contribution of around €50m (£41m) from the sale of parts of…
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17 July
Mike Jatania enters exclusivity with Body Shop over rescue deal
Businessman Mike Jatania’s consortium, Auréa Group, has officially entered into an exclusivity agreement with the administrators of The Body Shop, FRP Advisory. It is understood from a statement that Auréa’s management team will be led by former Molton Brown and Erno Laszlo CEO Charles Dento, following the competitive bidding process. …
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16 July
Today’s news in brief-16/7/24
Ocado Group reported a significant improvement in financial performance for the first half of the fiscal year ending 2 June 2024. The company narrowed its losses to £154m from £290m in the same period last year. Group revenue rose by 12.6% to £1.5bn, driven by strong growth in its technology…
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16 July
Pangaia opens first UK store in Carnaby Street
Lifestyle apparel brand Pangaia has opened its first UK standalone store at 57 Carnaby Street. The environmentally focused retailer has opened a 1,500 sq ft space on Carnaby Street, bringing its collection of premium lifestyle products to Soho and the UK for the first time as a standalone unit, stocking…
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16 July
Ocado HY losses narrow to £154m
Ocado has revealed that its losses narrowed to £154m for the half year ended 2 June 2024, down from £290m in the same period last year. Overall, the company’s group revenue rose 12.6% to £1.5bn while its technology solutions arms saw an increase of 22%, its logistics arm saw a…
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