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 -26 March
Asos maintains profit guidance despite HY sales falling 18%
Asos has reported that sales fell by 18% during the half-year period to 3 March, which the online retailer maintained is still broadly in line with expectations. According to the group, it expected FY23 trends to continue through to the first half of FY24, as it worked to improve…
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26 March
Holland & Barrett names new UK&I CEO amid leadership shake up
Holland & Barrett, the health and wellness business, has announced the appointment of Anthony Houghton as its new CEO of UK&I. The appointment comes as the retailer also announced changes to its structure to help further accelerate its growth and transformation strategy including the creation of three new divisions. Also…
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26 March
Ocado sales rise 10.6% to £645.3m in H1
Ocado has revealed sales increased 10.6% to £645.3m in the 13 weeks to 3 March 2024, up from £583.7m the previous year. It comes as the online supermarket said active shopper numbers for the group rose 6.4% to one million as average orders per week of 414,000 grew 8.4% compared…
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26 March
Pets at Home expects FY PBT to hit £132m
Pets at Home has revealed that it expects its full-year profit before tax to be £132m, in line with its previous guidance. This comes as the company stated that its Q4 trends across its retail and vet arms have been broadly in line with expectations. It now successfully launched its…
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25 March
Scottish retailers’ rates bills to rise by £31m, the SRC says
Shops in Scotland will see their annual business rates bills rise by £31m from next week, the Scottish Retail Consortium announced. The change follows the decision in the Scottish Government’s Budget to increase the business rate for firms occupying 22,120 medium-sized and larger commercial premises by 6.7% in 2024-25. This…
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25 March
Today’s news in brief-25/3/24
Former UK Chancellor Nadhim Zahawi is reportedly in discussions with online retailer The Very Group regarding the role of its new chair. While talks are ongoing, Zahawi’s potential appointment could signal a shift in leadership dynamics within the company, following the departure of its previous chair, Dirk Van den Berghe.…
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25 March
Cribbs Mall to welcome Sweaty Betty store
Cribbs Mall has announced that Sweaty Betty will be opening a new 1,714 sq ft store at the West Country shopping centre. The activewear retailer’s arrival comes as the shopping centre experienced a bumper 2023, with over 110,000 sq ft of leasing activity that took the occupancy rate to nearly…
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25 March
Bumper Easter week to boost footfall by +6.6%
Footfall is forecast to rise by +6.6% across all UK retail destinations over the week of Easter, according to MRI Software. MRI said it anticipates that shoppers will “flock” to retail parks this week to stock up on Easter essentials ahead of the weekend with the latter part of the…
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25 March
Ocado faces shareholder revolt over £15m CEO bonus
Ocado reportedly could see a shareholder revolt over executive pay after a proxy advisor recommended investors vote against the retailer’s new bonus scheme, which could mean CEO Tim Steiner receives up to £14.8m, The Times has reported. As a result, the Institutional Shareholder Services (ISS) has recommended that shareholders vote…
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25 March
Kingfisher profits drop amid poor international performance
Kingfisher has seen its pre-tax profits drop 25% to £568m for the year ended 31 January, down from £758m the year prior. The company has put this drop down to poor international sales specifically in France and Poland. As a result, the company is now predicting full year profits of…
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