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 -2 October
JD Sports profits drop 64.3% in H1 despite record sales of £5bn
JD Sports has reported that its profit before tax fell by 64.3% to £126m during the 26 weeks to 3 August, despite revenues rising 5.2% to a record £5bn in the period. The group’s rise in revenues was partially bolstered by £61m from 10 days of trading from Hibbett, following…
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2 October
Nike withdraws FY guidance amid falling Q1 sales
Nike has withdrawn its full-year guidance after first quarter sales plunged, and ahead of Elliot Hill becoming president and CEO of the group later this month. The company also cancelled an investor day that was set to take place next month. It comes as first quarter revenue fell by 10% to…
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2 October
LVMH sells Virgil Abloh’s Off-White to Bluestar Alliance
LVMH has announced the sale of luxury streetwear brand Off-White to New York-based brand management company Bluestar Alliance. Founded in 2013 by late Louis Vuitton artistic director Virgil Abloh, the brand was established to define the “grey area” between black and white as a colour. In 2021 LVMH acquired a…
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1 October
Today’s news in brief-1/10/24
Mulberry has turned down an £83m acquisition bid from Frasers, arguing it undervalues the company’s potential. Frasers offered 130 pence per share for a 36.8% stake, prompting Mulberry’s board, backed by majority shareholder Challice, to reject the offer and focus on CEO Andrea Baldo’s turnaround strategy. Authentic Brands Group has…
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1 October
Ebay UK scraps selling fees for private sellers
Ebay UK has announced that it has removed fees for private sellers across all categories, except motors. This move means that private sellers will no longer pay final value fees or regulatory operating fees when they sell on Ebay. Ebay UK introduced free selling in fashion earlier this year and…
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1 October
The Works ‘well-positioned’ for Xmas despite PBT drop
The Works has seen its profit-before-tax fall to £6.9m for the year ended 5 May 2024, down from £9m last year. Despite this, the company believes it is “well-positioned” for profit growth in FY25, especially as it enters the Christmas period. The company’s revenue edged up 0.9% to £282.6m compared…
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1 October
Authentic Brands acquires Champion in $1.2bn deal
Authentic Brands Group has announced that it has finalised the acquisition of athleticwear brand Champion in a $1.2bn (£899m) deal. As the second-largest brand acquisition in Authentic’s history behind that of Reebok, Champion generates nearly $3bn (£2.2bn) in global retail sales annually. Authentic is set to expand Champion’s global presence…
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1 October
Greggs sales rise 10.6% in Q3
Greggs has reported “good” like-for-like sales growth over the Q3 ended 28 September, as total sales rose 10.6% and like-for-like sales in company-managed shops rose by 5% against the same period last year. According to the high street bakery chain, September proved to be the strongest month of the quarter,…
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1 October
Mulberry rejects Frasers’ £83m takeover offer
Mulberry has rejected a £83m offer from Frasers to take over the company, after stating its offer “did not recognise the company’s substantial future potential value”.Frasers had made the 130 pence-per-share offer yesterday, which would see it acquire 36.8% of the handbag company. Mulberry’s board said it carefully considered the…
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1 October
Sleepeezee pre-tax profits dip to £159k in FY23
Bed retailer Sleepeezee has reported a pre-tax profit of £159,261 for the year ended 31 December 2023. According to statements filed at Companies House, the business saw its turnover fall from £39m in 2022 to £38.7m. The bed manufacturer said that retail performance was impacted by rising interest rates and…
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