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.
-
May- 2024 -3 May
Today’s news in brief-3/5/24
Asda, following strong FY23 financial results, has successfully refinanced £3.2bn of debt, pushing maturities into the next decade. This included issuing significant high-yield bonds and extending its revolving credit facility to October 2028. The refinancing reflects Asda’s robust performance and investor confidence after Moody’s recent upgrade. The Works has completed…
Read More » -
3 May
Go Outdoors opens new store at Metrocentre
Go Outdoors, the outdoor clothing and equipment retailer, has launched its 20,242 sq ft store at Metrocentre, in the North East. Having taken the unit on Blue Mall, the new store stocks an array of renowned outerwear brands such as Rab, Oex, and Berghaus, as well as a full range…
Read More » -
3 May
Retailers face slow start to Spring as footfall declines 7.2% in April
Retailers experienced a slow start to Spring as total UK footfall decreased by 7.2% in April (YoY), down from -1.3% in March, according to the latest figures from the BRC. However, the BRC revealed the figures were slightly distorted due to the earlier Easter which led to tough comparables. High…
Read More » -
3 May
Apple profits fall as iPhone demand slows
Apple has reported a 2% year-on-year decline in profit to $23.6bn (£18.8bn) and a 4% decrease in revenues to $90.8bn (£72.2bn) for its fiscal 2024 second quarter ended March 30, 2024. The decline in revenue and profits comes as the group’s iPhone sales dropped 10% from $51.3bn (£40.8bn) to $45.9bn…
Read More » -
3 May
Asda successfully refinances £3.2bn of debt
Asda has announced that it has refinanced £3.2bn of debt pushing out the majority of its maturities into the next decade. The refinancing included the biggest Sterling high-yield bond this year and the second-largest sterling bond in the European leveraged finance market. Asda also successfully extended the maturity of its…
Read More » -
3 May
The Works completes admission to AIM
The Works has announced the completion of its move from the main market of the London Stock Exchange to AIM. On 19 March, the books, arts and crafts retailer announced proposals to apply for the admission of its ordinary shares to trading on AIM under AIM’s streamlined admission process for…
Read More » -
3 May
Mango to open 20 more UK stores by year’s end
Mango has announced it will continue its expansion and brand consolidation plan in the UK with more than 20 store openings by the end of 2024. This particular expansion will see the fashion retailer focus on its presence in London and Scotland, as well as setting up shops in Northern…
Read More » -
2 May
Today’s news in brief-2/5/24
Total supermarket sales growth in the UK slowed to 3.4% in the four weeks ending April 20, down from the previous month’s 5.4%, as per NIQ data. This decline is attributed to easing inflation, an earlier Easter, and decreased general merchandise sales. Despite lower food inflation, food prices remained high…
Read More » -
2 May
Oliver Bonas to open new shop in Angel Central
Oliver Bonas, the independent British lifestyle brand, has selected Angel Central to open its newest store in Islington. Angel Central will see the arrival of a 2,856 sq ft store for Oliver Bonas, neighbouring anchor brand H&M as well as Flying Tiger. Opening on 11 May, the new space will…
Read More » -
2 May
Supermarket sales growth slows to 3.4% as inflation eases
Total Till sales across UK supermarkets slowed to a growth of 3.4% in the four weeks ending 20 April, down from a growth of 5.4% reported the prior month, according to new data from NIQ. The slowdown in sales comes as inflation eased in April, with sales also affected by…
Read More »
