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 -11 July
Holland and Barrett losses widen despite surge in revenues
Holland and Barrett has reported that pre-tax losses widened from £59.6m to £65.3m following a rise in administrative expenses, despite seeing its revenues increase 11% to £806.1m during the year ended 30 September. Gross profits also rose by 7% to £475.7m, while distribution and operation costs decreased to £253m that…
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11 July
British entrepreneur close to Body Shop deal
British entrepreneur Mike Jatania is close to completing a rescue deal for The Body Shop, according to reports from Bloomberg. Jatania is thought to be part of a consortium alongside ex-Molton Brown CEO Charles Denton amongst others. It is believed that the retailer’s new owners are planning to retain all…
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11 July
UK economy beats expectations as GDP jumps 0.4%
UK gross domestic product (GDP) beat expectations in May, increasing 0.4%, as a result of better weather, according to data from the Office for National Statistics (ONS). An unseasonably wet April dented consumer sentiment and hurt construction leading to the slight increase. Construction grew at the fastest rate in almost…
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11 July
Pepco Group LFL revenue dips 4.3% in Q3
Pepco Group, owner of Poundland, Dealz and Pepco, has reported a 4.3% decline in group like-for-like revenues for its third financial quarter ended 30 June. Poundland saw a 6.9% LFL decline due to challenges related to the introduction of new Pepco-sourced clothing and general merchandise ranges. Pepco’s LFL revenues were…
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11 July
Frasers Group further increases stake in Hugo Boss
Frasers Group has announced that it has upped its investment in Hugo Boss, increasing its overall stake from €360m (c. £305m) in May to €490m (c. £415m). The group now has 5.6m shares of common stock, representing 7.99% of Hugo Boss’s total share capital. It also owns 9,721,000 shares of…
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10 July
Whole Foods Market and BasicNet signs retail units in Chelsea
Whole Foods Market and BasicNet have recently signed as new tenants at the One Twenty King’s Road development in Chelsea, London. The development, which has been built from the formerly out of date Kings Walk Shopping Centre, has increased the net area from 55,000 sq ft to 84,000 sq ft…
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10 July
EWM, Bonmarche and Peacocks return to profitability
The owners of Edinburgh Woollen Mill (EWM), Bonmarche and Peacocks, have revealed that all three brands have returned to profitability. Purepay Retail said that Bonmarche and EWM delivered turnover of £195m for the year to February 2023, while operating profit increased to £8.07m, up from a loss of £19.3m the…
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10 July
Dyson to cut up to one third of its UK workforce
Vacuum cleaner maker Dyson is reportedly planning to cut around 1,000 jobs, nearly one third of its UK workforce, following a review of its global needs, as first reported by the Financial Times. On Tuesday (9 July) Dyson staff were informed by email about the redundancies. People familiar with the…
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10 July
Travis Perkins appoints Pete Redfern as new CEO
Travis Perkins has announced the appointment of Pete Redfern as its new chief executive officer, following an “extensive and rigorous” search process. Effective from 16 September, Redfern will succeed Nick Roberts who will step down from his role as CEO on the same day. Redfern will bring over two decades…
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10 July
Timpson CEO steps down to focus on new ministerial role
Timpson CEO James Timpson has stepped down from his role at the shoe repair chain company after being recently appointed as minister for prisons, parole and probation. In a statement shared on LinkedIn, his father Sir John Timpson CBE said that as a result of his son’s decision to focus…
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