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.
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Jun- 2024 -24 June
John Lewis unveils new circular design collection
John Lewis has today (24 June) launched a new eco-friendly circular collection across its Home and Fashion range. The 20-piece collection, which includes nightwear and filled bedding, has been developed with “circularity at the forefront”, offering products which are longer lasting and more sustainable. Products in the range have an…
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24 June
Shein’s £50bn London float in danger
Shein could reportedly ditch plans for its £50bn float in London amid growing concerns in China over how the retailer is portrayed in the UK, The Mail on Sunday has reported.It comes as criticisms of Shein have unsettled high-ranking officials in the Chinese government, sources told The Mail. The criticisms…
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21 June
Today’s news in brief-21/6/24
UK retail sales saw a notable increase of 2.9% in May 2024, reversing a 1.8% decline in April. According to the Office for National Statistics, sales volumes rose across various sectors, with clothing retailers and furniture stores rebounding after poor weather in April. Over the three months to May 2024,…
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21 June
Peak Performance to open first UK store in Covent Garden
Scandinavian outdoor brand Peak Performance has selected Covent Garden to be the home of its first-ever UK store. Known for its “bold and progressive” design, Peak Performance Covent Garden will offer a selection of collections at its new 1,700 sq ft home at 49 Long Acre, from the lightweight Helium…
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21 June
BoE decision a ‘blow for Gen Z spending’, says RSM UK
The economic impact of high interest rates is set to hit Gen Z spending for the next 12 months, “prolonging the challenge for retailers and hospitality businesses as discretionary spend gets squeezed”, according to accountancy firm RSM. A survey of 2,000 consumers conducted on behalf of RSM UK shows Gen…
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21 June
Card Factory to engage shareholders after AGM revolt
Card Factory has announced that it will engage with shareholders after a revolt over the reelection of its chair. The greetings card retailer saw nearly a quarter of shareholders vote against the reelection of Paul Moody. Moody joined the business in July 2020 as executive chair and saw 24.87% of…
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21 June
UK retail sales jump 2.9% in May
UK retail sales volumes rose by 2.9% in May 2024, following a fall of 1.8% in April 2024, according to the Office for National Statistics (ONS). Sales volumes rose across most sectors, with clothing retailers and furniture stores rebounding following poor weather in April. More broadly, sales volumes rose by…
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21 June
Consumer confidence up three points in June, Gfk finds
Consumer confidence increased by three points in June to -14, the latest Gfk consumer confidence index has revealed. According to the index, the measure for the general economic situation of the country during the last 12 months is up seven points at -32. This is 22 points higher than in…
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20 June
Today’s news in brief-20/6/24
Sainsbury’s announced the sale of its banking arm’s personal loan, credit card, and retail deposit portfolios to NatWest, scheduled for completion next year. The sale, which excludes Sainsbury’s Bank’s commission income businesses like insurance and travel money, will involve Sainsbury’s paying NatWest £125m to take over the portfolios. Sainsbury’s plans…
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20 June
Footasylum to open first Aberdeen store
Footasylum has announced that it will be opening a new store in Aberdeen’s Union Square shopping centre. The new 7,000 sq ft store will open to the public in early September, with an exact date to be confirmed in due course. It will be located on the ground floor of…
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