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 -12 September
Shop closures rise to 38 per day in 2024
An average of 38 shops closed down each day in the first six months of the year, according to new research from PwC. The latest data shows that a total of 6,945 shops belonging to multiples and chains exited Great Britain’s high streets, shopping centres and retail parks – a…
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11 September
Today’s news in brief-11/9/24
In July 2024, the UK economy saw no growth for the second consecutive month, failing to meet analysts’ expectations of a 0.2% expansion. The stagnant performance was largely due to mixed results across different sectors. The services sector recorded a slight 0.1% increase, primarily driven by a strong recovery in…
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11 September
Inditex H1 sales rise by 7.2% to €18bn amid ‘well received’ collections
Zara-owner Inditex has reported a 7.2% year-on-year rise in revenues to €18.1bn (£15.3bn) for the first half of 2024, with profit before tax rising 10.6% to €3.6bn (£3.04bn). The group has also revealed that net income rose by 10.1% to €2.8bn (£2.36bn), while gross profits rose by 7.5% to €10.5bn…
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11 September
UK economy stagnates for second consecutive month
The UK economy experienced no growth for the second consecutive month in July, underperforming analysts’ expectations of 0.2% growth for the month. The latest figures from the Office for National Statistics (ONS) show that services output is estimated to have increased by 0.1% in July 2024, following a decrease of…
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11 September
WH Smith group sales rise 7% amid strong travel growth
WH Smith has reported a 7% rise in group revenues and 5% rise in like-for-like sales for the 12 months to 31 August, driven by travel which was up 10%. The group’s travel category delivered strong growth because of category development and enhancing ranges, most notably in food and drinks,…
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11 September
Dunelm PBT rises 6.6%
Dunelm has revealed that its profit-before-tax rose 6.6% to £205m, up from £193m, for the year ended 29 June 2024. Alongside this, the company’s total sales rose 4.1% to £1.71bn compared with £1.64bn in the same period last year. The company also stated it saw an increase in active customers…
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11 September
Boohoo shifts US fulfilment operations to UK
Boohoo is set to shut its US distribution centre and instead fulfil its stateside orders from its automated distribution centre in Sheffield. The retailer previously supplied its US customers from a distribution centre in Pennsylvania. The decision to shift US fulfilment operations to the UK comes as the group looks to…
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10 September
Today’s news in brief-10/9/24
Burberry has faced a significant downturn, with its market value plummeting to £2bn, its lowest since 2009. Barclays downgraded Burberry, citing poor performance relative to other luxury retailers and doubts about its ability to maintain premium status due to pricing and strategic issues. CEO Jonathan Akeroyd was replaced by Joshua…
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10 September
Schuh launches ‘Single Shoe’ initiative to increase inclusivity
Schuh has introduced a new initiative to enable customers to make single shoe purchases nationwide in a step towards greater inclusivity. The initiative, available in-store, sees schuh customers get 50% off single shoes taken from a brand new pair. The new offering follows the positive feedback already received from customers…
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10 September
Wickes HY profit falls to £23.4m
Wickes has revealed that its adjusted profits fell to £23.4m, down from £31.1m, for the 26 weeks ended 29 June 2024. Alongside this, the DIY retailer saw its total revenues fall 3.4% year-on-year from £827.7m down to £799.9m. However, its operational costs were flat year-on-year following planned management action taken…
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