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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Aug- 2024 -27 August
Today’s news in brief-27/8/24
UK shop prices have fallen for the first time since October 2021, with the BRC-NielsenIQ index reporting deflation of 0.3% in August, down from July’s 0.2% inflation. Non-food items saw a deeper deflation of -1.5%, driven by heavy discounts on summer stock, while food inflation slowed to 2%, with fresh…
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27 August
Barbour opens new concept store in Covent Garden
British luxury lifestyle brand Barbour has opened at 37 Neal Street in Covent Garden’s Seven Dials neighbourhood. The historic retailer’s store is centred around its design concept of New Heritage, which celebrates its dual identity as both “historic in legacy and contemporary in design”. In a nod to Barbour’s 130-year…
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27 August
Modella Capital acquires Hobbycraft from Bridgepoint
Privately-owned specialist retail investment boutique Modella Capital has announced its acquisition of Hobbycraft, the largest arts and crafts retailer in the UK, from majority investor Bridgepoint for an undisclosed sum. Founded in Bournemouth in 1995 and acquired by Bridgepoint in 2010, Hobbycraft has grown to a nationwide business with over…
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27 August
M&S to trial new clothing-only format as fashion sales rebound
Marks and Spencer is reportedly looking to open clothing-only stores after a rise in demand for its lingerie and cashmere jumpers helped undo years of dwindling fashion sales, according to The Telegraph. It comes as the retailer plans to trial its first clothing-only store in London’s Battersea Power Station later…
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27 August
Over 3,500 Next workers win equal pay claim
More than 3,500 current and former Next employees have won a six-year legal fight for equal pay, with the total amount payable by the retailer estimated to be over £30m.According to Leigh Day, the firm that represented the workers, this marks the first equal pay claim of this type against…
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27 August
UK shop prices fall for first time in three years, BRC finds
UK shop prices fell for the first time in three years since October 2021, the British Retail Consortium revealed. The BRC-NielsenIQ shop price index showed that deflation was at 0.3% in August, down from inflation of 0.2% in the previous month. Non-food remained in deflation at -1.5% in August, further…
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27 August
Frasers seeks £585m share buyback approval
Frasers Group is seeking approval for owner Mike Ashley to cash in on £585m of shares which could be bought by the company in a private deal, according to reports from The Guardian. Under the plan, the group said it wanted permission from shareholders to buy back the shares privately…
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27 August
Lanvin HY revenues decline 20% amid global luxury slowdown
Lanvin Group, which owns Wolford, Sergio Rossi and Caruso brands, has reported a 20% decline in revenues to €171m (£144.5m) in H1 2024. DTC channel revenue decreased by 14% and wholesale revenue by 30%. Meanwhile, other revenue growth comprising royalty and clearance income decreased 15% due to Lanvin’s reduction of…
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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.…
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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…
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