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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Jun- 2024 -26 June
AO adjusted PBT hits £34.3m in bumper FY24
Electrical retailer AO World has reported that adjusted profits before tax reached £34.3m in the year to 31 March, spelling a year-on-year rise of £22.3m with a PBT margin of 3.3%. According to the group, the strong profit performance above the top end of the previous range illustrates “the successful…
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26 June
Morrisons sales increase 3.7% to £3.8bn in Q2
Morrisons has seen total sales, excluding fuel, rise by 3.7% to £3.8bn in its second quarter, while like-for-like sales increased 4.1% in the period from 29 January to 28 April. Following the £2.5bn sale of its petrol filling station business to MFG, the group successfully completed its debt reduction tender…
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25 June
Today’s news in brief-25/6/24
Shein has confidentially filed for an IPO in London, valued at £50bn, despite concerns over its portrayal in the UK which has caused some anxiety among Chinese officials. The fast-fashion retailer, which needs approval from both the China Securities Regulatory Commission (CSRC) and the Financial Conduct Authority (FCA), had previously…
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25 June
Disposable income for low-earning households hits 3-year high, Asda finds
Disposable income for low-earning households hit a near three-year high in May, following a 12.6% increase year-on-year, Asda’s income tracker has revealed. Despite this increase, budgets for these families remain under pressure in real terms, as their take home pay was still not enough to cover bills and essential spending,…
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25 June
Private equity firms eye Evri deal
A number of private equity firms are reportedly interested in acquiring parcel delivery company Evri, according to Sky News. The outlet revealed that Apollo Global Management and Platinum Equity are thought to be among the parties to have lodged an initial offer for Evri, which is valued at around £2bn.…
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25 June
THG re-elects chair despite small shareholder revolt
THG has re-elected its chair Lord Charles Allen with just 9.25% voting against his re-election despite vocal opposition. Kelso Group, a minority shareholder with a 0.55% stake in the company, publicly opposed his reappointment as it voiced concerns about what it claims is a lack of action on THG’s strategic…
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25 June
L’Occitane sales reach €2.5bn in FY24
L’Occitane International has seen its net sales increase by 19.1% to €2.5bn (£2.1bn) during the year ended 31 March. The beauty and wellness products retailer attributed this result to Sol de Janeiro and the performance of L’Occitane en Provence, particularly in China where it “outperformed” in a difficult market. However,…
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25 June
John Lewis Partnership appoints interim finance director
The John Lewis Partnership has announced the appointment of Andy Mounsey as its interim executive director for finance. Mounsey, who is currently the partnership’s group finance and strategy director, has been with the business for 12 years in a number of senior finance roles. Having previously worked at EY for…
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25 June
Gear4music appoints Sharon Daly as NED
UK-based online retailer of musical instruments and music equipment Gear4music has announced the appointment of Sharon Daly as non-executive director, commencing 5 July 2024. Daly has significant experience of serving on the boards of AIM-listed companies as both executive and non-executive director. She joined Warpaint London PLC as a non-executive…
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25 June
Shein files confidential London IPO paperwork amid possible listing
Shein confidentially filed paperwork to launch its £50bn IPO in London earlier this month, sources have told Reuters and CNBC, despite recent rumours that the float could be scrapped amid pressure from Chinese officials. According to sources, it is “not immediately clear” when Shein plans to launch the IPO. However,…
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