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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May- 2024 -8 May
Carpetright announces restructuring, 70 jobs at risk
Carpetright has announced restructuring plans across a number of departments to “better support regional stores and digital plans”. A staff reduction of just over 25% will affect the company’s central support centre and field management teams leading to approximately 70 job losses. The company stated that this reduction in central…
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7 May
Today’s news in brief
The latest BRC-KPMG Retail Sales Monitor reveals a 4% year-on-year decrease in total UK retail sales for April. Non-food sales dropped by 2.8% over the three months to April compared to a growth of 1.2% in 2023. Food sales saw a 4.4% increase over the same period, although this is…
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7 May
Aldi named UK’s cheapest supermarket in April
Aldi was officially the UK’s cheapest supermarket in April, according to the latest findings from consumer group Which?. Despite claims from the traditional supermarkets to price match Aldi on a limited number of products, Aldi has once again been named as the UK’s cheapest supermarket. Consumer group Which? conducted its…
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7 May
Co-op opens new branch in New Romney
Co-op has opened its newest store to serve and support the community in the market town of New Romney, Kent. Located in Littlestone Road, New Romney, the 2,250 sq ft convenience store has created 16 local jobs and includes an in-store bakery, Costa Coffee Express machine, customer car parking, and…
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7 May
The White Company profits dip 1.3%
The White Company has revealed that its profit before tax fell slightly from £32.6m down to £32.2m for the 52 weeks ended 29 July 2023. However, the company’s underlying profit for the year, excluding exceptional items, rose 4% to £33.5m, up from £32.3m the previous year. Alongside this, the company’s…
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7 May
The Fragrance Group sees 6.1% rise in LFL sales
The Fragrance Shop has hailed “exceptional” end-of-year results for the 12 months to 1 April 2024 with a 6.1% like-for-like sales increase and overall continuing business growth of 9.4%. Among many of the brands in its portfolio, Barbour increased by 55%, Versace grew by 48% and Jean Paul Gaultier by…
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7 May
Retail sales fall 4% in April
UK total retail sales decreased by 4% YOY in April, against a growth of 5.1% in April 2023, according to the latest BRC-KPMG Retail Sales Monitor. This was below the 3-month average growth of 0.5% and the 12-month average growth of 2.2%. However, when correcting for the distortion created by…
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7 May
Zalando revenues hit €2.2bn in Q1
Zalando has seen revenues increase to €2.2bn (£1.8bn) for the first quarter of 2024. Adjusted earnings before interest and tax (adjusted EBIT) rose to €28.3m (£24.2m), in line with market expectations and representing a margin of 1.3%, compared to – €0.7m (£0.6m) in the prior-year period. Gross merchandise volume (GMV)…
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7 May
Mike Ashley settles lawsuit against Morgan Stanley
Mike Ashley’s Fraser’s Group has dropped a $50bn (£40bn) lawsuit against Morgan Stanley, with no money exchanged by either parties, after the retail tycoon accused the bank of “snobbery” over a nearly $1bn (£797m) margin call. In a statement to The Financial Times, Morgan Stanley said: “Frasers Group plc and…
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7 May
Tala to debut first physical partnership with Selfridges
Athleisure brand Tala will be debuting its physical all-store partnership with Selfridges from 10 May. The brand will be available to purchase across all four Selfridges stores, including Selfridges Oxford Street, a branded shop in Manchester Trafford, Manchester Exchange Square and Birmingham. According to Tala, launching in Selfridges allows the…
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