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.
-
Aug- 2024 -23 August
UK consumer confidence remains stable in August
UK consumer confidence has remained stable in August at -13, according to GfK’s long-running index. The survey revealed that three measures were up and two were down in comparison with last month’s announcement. The index measuring changes in personal finances during the last year was up one point at -7.…
Read More » -
23 August
Fred Perry PBT jumps 11.5% to £18.5m
Fred Perry has revealed its profit-before-tax jumped 11.5% to £18.4m in the year ended 31 December 2023. In its most recent filings to Companies House, the clothing and sportswear retailer, founded by the eponymous Wimbledon champion, revealed its turnover also jumped 10% to £154.1m as its European and and International…
Read More » -
23 August
Organic wine sales at Majestic almost double in a year
Majestic has revealed that its organic wine sales have almost doubled, rising by 94% over the year to July, as availability and demand for wines in its ‘planet-friendly’ category accelerated ahead of expectations. In August 2023, the retailer predicted that its organic wine sales would double within three years at…
Read More » -
23 August
Shein uncovers two cases of child labour in supply chain
Shein has revealed it uncovered two cases of child labour in its supply chain last year, as both cases were resolved “swiftly”, with a series of remediation steps put in place following the discoveries.From Q1 to Q3 2023, Shein Responsible Sourcing (SRS) audits uncovered the two cases in the supply…
Read More » -
22 August
TK Maxx owner ups FY profit guidance
TK Maxx owner, TJX Companies, has revealed it has upped its FY profit guidance after its comparable store sales increased 4% during the second quarter of the year. It reported net sales for the second quarter of $13.5bn (£10.2bn), an increase of 6% versus the second quarter of Fiscal 2024.…
Read More » -
22 August
Urban Outfitters reports ‘record’ Q2 sales of $1.35bn
US lifestyle brand Urban Outfitters has reported a 6.3% increase in total net sales to a “record” $1.35bn (£1.03bn) for the three months ended 31 July 2024. The brand that operates a portfolio of global consumer brands that also includes Anthropologie, Free People and FP Movement also recorded a net…
Read More » -
22 August
JD Sports sales rise 2.4% in Q2 amid global expansion
JD Sports has welcomed a strong second quarter of trading, with like-for-like sales up by 2.4%, as organic sales grew by 8.3%. The quarter-on-quarter trading improvement was largely driven by the strength of its multi-brand operating model, according to the group, as well as softer comparatives with the previous year. Regionally,…
Read More » -
22 August
Shein mulls selling shares to British public amid IPO backlash
Shein is reportedly looking to sell its shares directly to the British public after its potential £50bn listing on the London Stock Exchange was met with backlash, The Telegraph has reported. It is understood that the fast fashion group is in the early days of examining a possible sale to…
Read More » -
21 August
Waitrose to open 100 convenience stores amid £1bn investment
Waitrose has announced plans to open up to 100 convenience shops across the country over the next five years, just as the retailer has unveiled its latest vision for what its shops “could look like for customers in the future”. It comes as Waitrose plans to invest a “record” £1bn…
Read More » -
21 August
Asos shareholders approve new pay plan for execs
Asos shareholders have approved a new pay plan for executives with the group’s new Value Creation Plan (VCP). According to the company, the scheme aims to further align executive directors and the senior leadership team with its “ambitious growth plans”. Around 91.82% of shareholders voted in favour to amend the…
Read More »
