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.
-
Apr- 2024 -30 April
Card Factory profits soar 25% amid strong store trading
Card Factory has welcomed a strong year of trading, as pre-tax profit soared 25% to £65.6m in FY24, largely boosted by its store performances.Over the period, revenues rose by 10.3% to £510.9m, with total store revenue up by 8.7%, including contribution from 26 net new store openings during the year.…
Read More » -
29 April
Today’s news in brief-29/4/24
Ted Baker’s European operations are on the brink of administration, endangering 149 jobs. The potential collapse affects stores and concessions in the Netherlands, Belgium, and Spain. This development follows the appointment of restructuring firm Teneo as administrator of Ted Baker by its owner, Authentic Brands Group, after a £210m acquisition…
Read More » -
29 April
BP appoints convenience retail VP and senior deal manager
BP has announced the appointment of Jo Hayward as VP of mobility and convenience retail and Natalie Cattermole as senior deal manager, as the group looks to grow its UK retail arm. Hayward, the former VP for convenience in Europe at BP, will be replacing Sonya Adams who has been…
Read More » -
29 April
Moss to open new store in Gloucester Quays
Menswear retailer Moss has selected Gloucester Quays for its next store, opening Saturday 4 May. Moss is set to bring decades of tailoring know-how and a history of innovation to meet the changing needs of the menswear customer. Dropping “Bros” from its old name to just Moss, the recent rebrand…
Read More » -
29 April
Monsoon Accessorize profits fall amid ‘difficult trading’
Monsoon Accessorize has seen its EBITDA fall 18% to £20m for the year ended 26 August 2023. The company stated that trading remained “difficult” despite pressures easing causing the profit drop. Group sales for Adena Brands, parent company of Monsoon Accessorize and East. fell 4% down to £248m. Despite this,…
Read More » -
29 April
Lidl to invest £500m into British pork
Lidl GB has announced an investment of £500m into the British pork sector as it aims to ensure the continued production of ‘high quality British product”. As the fourth-largest retailer in the fresh pork category with an 11% market share, Lidl said it is taking action to address recent sector-wide…
Read More » -
29 April
Ted Baker’s European arm faces collapse, 149 jobs at risk
The European arm of Ted Baker is reportedly at risk of entering administration with 149 roles at risk.According to Drapers, businesses operating the retailer’s bricks-and-mortar stores in the Netherlands, Belgium and Spain are at risk of entering administration. The process is reportedly dependent on each of the country’s systems. The…
Read More » -
29 April
Sir Dickson Poon invests a further £25m in Harvey Nichols
Sir Dickson Poon, the owner of Harvey Nichols, will be investing a total of £32.5m in the retail group, having lent the department store £25.5m last week, with plans to invest a further £7m. The news, which is based on accounts filed at Companies House, comes as Poon aims to…
Read More » -
29 April
N Brown chair steps down
N Brown has announced that Ron McMillan will be retiring as chair and stepping down from the board with effect from 30 April for personal reasons. McMillan has been on the N Brown board for 11 years. The board has resolved to appoint Steve Johnson, following McMillan’s departure, as interim…
Read More » -
29 April
L Catterton acquires majority stake in Kiko Milano
Global consumer-focused investment firm L Catterton has announced that it has entered a definitive agreement to acquire a majority stake in the Italian beauty brand Kiko Milano from the founding Percassi family, who will retain a significant stake in the company. Founded in Bergamo, Italy in 1997 by Antonio and…
Read More »
