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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Jul- 2024 -16 July
Pangaia opens first UK store in Carnaby Street
Lifestyle apparel brand Pangaia has opened its first UK standalone store at 57 Carnaby Street. The environmentally focused retailer has opened a 1,500 sq ft space on Carnaby Street, bringing its collection of premium lifestyle products to Soho and the UK for the first time as a standalone unit, stocking…
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16 July
Ocado HY losses narrow to £154m
Ocado has revealed that its losses narrowed to £154m for the half year ended 2 June 2024, down from £290m in the same period last year. Overall, the company’s group revenue rose 12.6% to £1.5bn while its technology solutions arms saw an increase of 22%, its logistics arm saw a…
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16 July
Sosandar revenues rise to £46.3m in FY24
Sosandar’s revenue rose by 9% to £46.3m in the financial year ended 31 March, as the company prioritised margin enhancement and profitability. The company experienced its largest quarter of revenue ever in Q3, with revenue up 23% against Q3 FY23. Q4 was also “strong”, resulting in H2 being “well ahead”…
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16 July
B&M revenues rise 2.4% in Q1 as new stores overperform
Value retailer B&M has reported that group revenues rose 2.4% during the first quarter to 29 June, due to its “disciplined” store opening programme across its three businesses – home, electrical and pet. During the period, B&M made “strong and profitable” progress on its UK store openings, with 19 total…
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16 July
Tala secures £5m investment to fund international expansion
Activewear brand Tala, founded by entrepreneur Grace Beverley and led by CEO Morgan Fowles, has secured £5m of investment as it plans for international expansion. Pembroke VCT, who participated in an investment round in the business in 2021, has “cemented its longstanding confidence in the brand”, leading the round with…
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16 July
Greggs to open new Kettering distribution centre
Greggs has announced plans to open a new national distribution centre at Symmetry Park, Kettering, in partnership with Tritax Symmetry. According to Greggs, this initiative is a “key” part of its growth strategy, aimed at expanding its supply chain to meet the needs of its growing number of shops across…
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15 July
Today’s news in brief-15/7/24
Luxury fashion brand Burberry has ousted CEO Jonathan Akeroyd following a sharp decline in sales during its first quarter. Sales plummeted by 21%, amounting to £458m, with the Americas and Asia Pacific regions experiencing a 23% drop, and Europe, the Middle East, India, and Africa (EMEIA) reporting a 16% fall.…
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15 July
Sephora to open at Birmingham’s Bullring centre
Sephora UK is continuing its retail expansion across the UK with the announcement of a new store at Hammerson’s destination in Birmingham city centre Bullring later this year. The success of the beauty retailer is largely due to the brand’s commitment to retail innovation by creating “unique and diverse” retail…
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15 July
Uniqlo owner ups FY guidance as revenues jump 10%
Fast Retailing, owner of Uniqlo and Theory, has upped its full-year operating profit estimate by 24.6% to ¥475bn (£2.3bn). In the nine months to 31 May, the company’s revenue increased by 10.4% year-on-year to ¥2.3trillion (£11bn), while operating profit rose 21.5% to ¥401.8bn (£1.9bn). In Japan, in the three months…
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15 July
Burberry ousts CEO amid profit warning
Burberry has announced that it has replaced its CEO Jonathan Akeroyd effective immediately after its Q1 sales dropped by a fifth. The fashion house has announced the appointment of former Michel Kors boss Joshua Schulman to replace Akeroyd. Burberry stated that Schulman joins the business with a track record of…
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