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.
-
Jun- 2024 -25 June
Today’s news in brief-25/6/24
Shein has confidentially filed for an IPO in London, valued at £50bn, despite concerns over its portrayal in the UK which has caused some anxiety among Chinese officials. The fast-fashion retailer, which needs approval from both the China Securities Regulatory Commission (CSRC) and the Financial Conduct Authority (FCA), had previously…
Read More » -
25 June
Disposable income for low-earning households hits 3-year high, Asda finds
Disposable income for low-earning households hit a near three-year high in May, following a 12.6% increase year-on-year, Asda’s income tracker has revealed. Despite this increase, budgets for these families remain under pressure in real terms, as their take home pay was still not enough to cover bills and essential spending,…
Read More » -
25 June
Private equity firms eye Evri deal
A number of private equity firms are reportedly interested in acquiring parcel delivery company Evri, according to Sky News. The outlet revealed that Apollo Global Management and Platinum Equity are thought to be among the parties to have lodged an initial offer for Evri, which is valued at around £2bn.…
Read More » -
25 June
THG re-elects chair despite small shareholder revolt
THG has re-elected its chair Lord Charles Allen with just 9.25% voting against his re-election despite vocal opposition. Kelso Group, a minority shareholder with a 0.55% stake in the company, publicly opposed his reappointment as it voiced concerns about what it claims is a lack of action on THG’s strategic…
Read More » -
25 June
L’Occitane sales reach €2.5bn in FY24
L’Occitane International has seen its net sales increase by 19.1% to €2.5bn (£2.1bn) during the year ended 31 March. The beauty and wellness products retailer attributed this result to Sol de Janeiro and the performance of L’Occitane en Provence, particularly in China where it “outperformed” in a difficult market. However,…
Read More » -
25 June
John Lewis Partnership appoints interim finance director
The John Lewis Partnership has announced the appointment of Andy Mounsey as its interim executive director for finance. Mounsey, who is currently the partnership’s group finance and strategy director, has been with the business for 12 years in a number of senior finance roles. Having previously worked at EY for…
Read More » -
25 June
Gear4music appoints Sharon Daly as NED
UK-based online retailer of musical instruments and music equipment Gear4music has announced the appointment of Sharon Daly as non-executive director, commencing 5 July 2024. Daly has significant experience of serving on the boards of AIM-listed companies as both executive and non-executive director. She joined Warpaint London PLC as a non-executive…
Read More » -
25 June
Shein files confidential London IPO paperwork amid possible listing
Shein confidentially filed paperwork to launch its £50bn IPO in London earlier this month, sources have told Reuters and CNBC, despite recent rumours that the float could be scrapped amid pressure from Chinese officials. According to sources, it is “not immediately clear” when Shein plans to launch the IPO. However,…
Read More » -
24 June
Today’s news in brief-24/6/24
Shein’s plans for a £50bn flotation in London are under threat due to mounting concerns from Chinese officials over negative portrayals of the company in the UK. The British Fashion Council has expressed significant reservations about Shein’s business practices, particularly around labor exploitation. Although the company is based in Singapore,…
Read More » -
24 June
Miniso to open new store at Trafford Centre
Miniso has announced that it is set to open its biggest store in the North of England at the Trafford Centre on 5 July. Situated between Boots and John Lewis on the ground floor, the new location will cover 2,700 sq ft, enhancing the shopping experience at the Trafford Centre.…
Read More »
