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.
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Mar- 2024 -28 March
The Perfume Shop appoints two new directors amid Gender Pay Gap report
The Perfume Shop has strengthened its leadership team with the appointment of two female directors, Karen Harris and Laura Wilkinson. Harris, who was previously head of marketing, will take up a new position of customer director and be responsible for all areas of Customer, Loyalty, Marketing and PR. Wilkinson, previously…
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27 March
Today’s news in brief-27/3/24
Fashion giants ASOS, Boohoo, and George at Asda have pledged to overhaul their green marketing tactics following a Competition and Markets Authority (CMA) investigation. The CMA’s scrutiny was prompted by concerns of greenwashing in the fashion industry. The firms will now ensure that their green claims are clear, specific, and…
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27 March
Elemis to open first London store in Covent Garden
Beauty retailer Elemis has chosen Covent Garden’s Seven Dials for its first standalone store in London. Set to Monmouth Street, the premium skincare brand will open a 1,000 sq ft unit and will feature its formulated range of skincare, grounded in aromatherapy and backed by clinical trials. Launching in Spring,…
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27 March
Aldi to open 35 new stores this year
Aldi is planning to open 35 new stores across the UK this year, including new stores that are set to open in both Preston and Derby later this month.It follows the opening of stores in Skelmersdale and Newport earlier this year, with new openings also planned in towns such as…
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27 March
Travis Perkins’ CEO Nick Roberts to step down
The board of Travis Perkins has revealed that Nick Roberts is set to step down from his role as chief executive officer and from the board after five years in the role. The British builders’ merchant and home improvement retailer said its board and Roberts are aligned that “now is…
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27 March
H&M H1 profits beat expectations despite sales dip
H&M has revealed that its operating profit increased to SEK2.077bn (£155m), up from SEK725m (£54m) despite net sales decreasing to SEK53.6bn (£376m) during the first quarter of the year ended on 29 February 2024. The group has said that sales from 1-25 March increased by 2% in local currencies compared…
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27 March
Revolution Beauty ups profit guidance amid revival plan
Revolution Beauty has announced that it expects its full-year adjusted EBITDA to hit £12.5m higher than its previous guidance of between £11m-£12m. Alongside this, the company stated it expects revenue growth of approximately 2%, in line with its expectation of low single digit growth. This news comes as the company…
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27 March
Asos, Boohoo and Asda commit to green claim changes after CMA probe
Asos, Boohoo and George at Asda have committed to change the way they display, describe, and promote their green credentials, after the Competition and Markets Authority (CMA) launched an investigation to scrutinise their fashion ‘green claims’. The CMA launched the review in July 2022 having identified concerns of possible greenwashing…
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26 March
Today’s news in brief-26/3/24
Asos reported an 18% decline in sales during the first half of fiscal year 2024, yet maintained its profit guidance. Despite the sales dip, Asos showcased strong free cash flow performance, reaching £20m, its best since FY17. CEO José Antonio Ramos Calamonte highlighted the company’s progress in implementing its ‘Drive…
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26 March
Arket to open first store in Ireland
Nordic fashion and lifestyle brand Arket continued its expansion in Europe with the opening of a flagship store in Dublin during 2024, the first destination in Ireland. Based in Sweden, Arket is a modern-day market and lifestyle brand. The collections offer ready-to-wear and accessories for women, men, and children, complemented…
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