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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Sep- 2024 -24 September
Today’s news in brief-24/9/24
Harrods has launched an internal investigation to determine if any current staff were involved in allegations of rape and sexual assault made against its former owner, Mohamed Al Fayed. The inquiry follows a BBC documentary and podcast titled Predator at Harrods, which detailed claims made by multiple women who worked…
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24 September
New retail concept Future Stores to open in Oxford Street
A brand-new concept in retail media, called Future Stores, that creates 40 jobs, will open on Oxford Street on 30 October 2024. The 435m2 store, situated at 95 Oxford Street and spread across a full street block, blends the worlds of media, retail, and digital performance marketing together for the…
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24 September
Portman and Derwent to deliver 28,500 sq ft retail space in Marylebone
The Portman Estate and Derwent London have unveiled plans for the launch of Loxton Walk, a new retail and leisure destination in the heart of Marylebone. Launching in 2025, Loxton Walk will deliver 28,500 sq ft of new retail and leisure space across 17 ground floor units, accessible via four…
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24 September
Harrods investigating if current staff involved in Al Fayed allegations
Harrods has revealed that it is investigating if any of its current staff were involved in allegations against former owner Mohamed Al Fayed. Al Fayed, who owned the store between 1985 and 2010, has been accused of multiple rapes and sexual assaults by several women who worked for him. The…
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24 September
Card Factory HY profits fall 43% amid rising wages
Card Factory has reported that adjusted profits before tax fell by 43% to £14.5m in the six-month period to 31 July, due to “substantial” increases in National Living Wage as well as freight inflation and the phasing of strategic investments. This comes despite group revenues rising by 4.9% to £238m…
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24 September
Frasers Group lowers stake in Currys
Frasers Group has announced that it has lowered its stake in Currys just over a year after making an investment into the retailer. The group has lowered its holdings in the electricals business from 10.9% to 2.8%. The news comes after in June 2023 Frasers had made a “strategic investment”…
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24 September
Represent Clothing turnover hits £80.8m in FY23
Clothing retailer Represent has delivered “exceptional” results for the year ended 31 December 2023, as its turnover increased 67% to £80.8m. Its operating profit-before-tax also increased from £9m in 2022 to £13m in 2023. Meanwhile, the group reported EBITDA of £14.6m, reflecting an increase of £4.8m in the prior year.…
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24 September
Over 150 MPs call on Asda to end equal pay dispute
More than 150 MPs have written to Asda bosses calling for them to end an ongoing equal pay dispute, the GMB Union has said. According to the union, 159 MPs have written to majority owner TDR Capital urging it to settle the legal battle, which has seen “tens of thousands” of…
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23 September
Today’s news in brief-23/9/24
Frasers Group is facing audit issues with two brands, I Saw It First and Choice, revealing significant payroll data discrepancies. Auditors struggled to verify £7m in payments for I Saw It First due to lost data during system transitions. Similarly, Hart Shaw encountered missing crucial information for Choice. These revelations…
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23 September
Seasalt Cornwall appoints new CFO
Seasalt Cornwall has announced the appointment of Louise Couch to the role of chief financial officer, reporting directly to CEO Paul Hayes. Couch, who has gained industry experience from previously working for fast-paced consumer and tech businesses, will also join the executive board and will contribute to the clothing brand’s…
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