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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Oct- 2024 -9 October
Revolution Beauty H1 sales fall 20% amid portfolio shake-up
Revolution Beauty has reported that total net sales fell by 20% to £72m in the first half ended 31 August, due to a “planned simplification” of its product portfolio and the associated discontinuation of unproductive stock keeping units (SKUs). The decline also reflects the group’s “significant” stock clearance activity in…
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9 October
Gucci appoints new CEO
Kering has announced that Stefano Cantino has been appointed as the new CEO of Gucci, replacing Jean-François Palus, from 1 January 2025. He will report to Francesca Bellettini, deputy CEO of Kering in charge of brand development and will have a seat on Kering’s executive committee. Cantino joined Gucci in…
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9 October
Angling Direct revenues rise to £45.8m
Angling Direct, the fishing equipment retailer, has announced a 5.6% increase in revenues to £45.8m for the six months ended 31 July 2024. The group’s store sales were up 8.4% to £26.4m, while its online sales rose 2.8% to £17.0m. Like-for-like store sales also increased by 1.8% underpinned by improved…
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9 October
Shein’s UK profits double as sales hit £1.55bn in 2023
Shein’s UK arm has seen revenues rise by 38% to £1.55bn in the year ended 31 December 2023, up from £1.12bn the prior year.Meanwhile, pre-tax profit doubled from £12.2m to £24.4m over the year, according to new filings on Companies House. In the latest accounts for Shein Distribution UK Ltd,…
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8 October
Hobbs to upsize Victoria Leeds flagship store
Hobbs has announced that it is upsizing its shop in Victoria Leeds relocating from Victoria Quarter to a 30% larger unit at Victoria Gate. Due to open in November, the new 4,200 sq ft flagship store will allow Hobbs to showcase a wider selection of its signature women’s clothing, shoes,…
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8 October
Very Group owners to appoint banks ahead of potential £2.5bn sale
The owners of the Very Group, the Barclay family, have reportedly appointed banks as they eye a £2.5bn sale of the group, according to reports from Sky News. The board, now chaired by former chancellor Nadhim Zahawi, is lining up Barclays, JP Morgan and Morgan Stanley to handle a strategic…
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8 October
Matalan CEO steps down
Matalan, the omnichannel retailer for families, has announced that Jo Whitfield, chief executive officer, has decided to step down from the business to pursue a portfolio career. Under her leadership, the brand has made “significant” progress, rebuilding the top team and re-establishing its value credentials. Karl-Heinz Holland, chair of the…
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8 October
Frasers snaps up three more retail locations
Frasers Group has made three real estate acquisitions in strategic retail locations through its new property division, with the transactions each having been completed over the last two weeks. The bricks-and-mortar locations are Princesshay Shopping Centre in Exeter, Fremlin Walk Shopping Centre in Maidstone and The Olympus Centre in Quedgeley.…
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8 October
September retail sales see biggest boost in half a year
UK Total retail sales increased by 2% year on year in September marking the largest increase in over six months, according to the latest BRC-KPMG Retail Sales Monitor. Food sales increased 3.1% year-on-year over the three months to September, against a growth of 7.4% in September 2023. This is below…
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8 October
Sosandar opens fourth site in Cardiff
Sosandar, the women’s fashion brand, has announced that it has signed a lease agreement for its fourth store, in Cardiff’s St David’s centre. The news follows the recent store openings in Chelmsford, Marlow and the Metrocentre. St David’s occupies one third of Cardiff’s city centre and Sosandar’s new store will…
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