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 -20 March
Inflation falls to 3.4%
UK inflation fell to 3.4% in February, down from 4% in January, beating economists expectations of 3.5% as food inflation continued to ease. The largest downward contributions to the monthly change in both CPIH and CPI annual rates came from food, and restaurants and cafes, while the largest upward contributions…
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20 March
Abercrombie & Fitch signs agreement for new Oxford St store
Abercrombie and Fitch has signed an agreement with global real estate group, Hines, that will see it open a new store on Oxford Street. The fashion retailer signed a multi-year lease on the entire retail space at 325 Oxford Street, which covers two floors in the mixed-use retail and office…
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20 March
Mike Ashley takes consultancy role at Hornby
Mike Ashley is set to advise model train company Hornby as a consultant after building a stake in the firm. The company confirmed to investors that Ashley would be available to advise CEO Olly Raeburn and the wider business. However, Hornby confirmed that there would be no payment between the…
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20 March
Tesco to change Clubcard logo after losing Lidl legal battle
The Court of Appeal has agreed in favour of Lidl in the dispute between the German discount chain and Tesco, whose Clubcard Prices logo has been found to infringe on Lidl’s copyright. As a result, Tesco has been told to stop using its Clubcard Prices logo after losing the legal…
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20 March
Kontoor Brands appoints new COO
Lifestyle apparel company Kontoor Brands has announced the appointment of Tom Waldron as its new chief operating officer. In his new role, Waldron will assume responsibility for two of the company’s consumer brands, Wrangler and Lee, globally. In addition, he will maintain oversight of the company’s global supply chain operations. …
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20 March
Kering warns first quarter revenues to decline by 10%
Kering’s first quarter revenue of 2024 is likely to decline by approximately 10% on a comparable basis, from last year’s first quarter, according to the group’s preliminary trading update. The Paris-based luxury group stated that this performance primarily has reflected a steeper sales drop at Gucci, notably in the Asia-Pacific…
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19 March
Today’s news in brief-19/3/24
Castore has secured the Umbro Pro Team Sports licence. This strategic move positions Castore as an exclusive marketer of Umbro products in several European countries, including the UK, Germany, and the Netherlands. Through this partnership, Castore aims to capitalise on Umbro’s heritage and authenticity in football culture, targeting a new…
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19 March
Ted Baker to call in administrators
The US owner of Ted Baker, Authentic Brands Group, has announced its intention to appoint Teneo Financial Advisory as administrators of the fashion group. It is understood that ABG is in “advanced discussions” with many potential clients for the brand. Currently, Ted Baker has approximately 975 employees and runs 46…
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19 March
JD Williams launches new Anthology collection
JD Williams, a leading platform within N Brown Group plc, has launched its new premium capsule collection, Anthology, for spring/summer 2024. The second Anthology range by JD Williams is in response to demand for the debut collection which launched in September last year. Demand for the initial range was driven…
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19 March
DFS lowers guidance and warns on Red Sea Crisis
DFS has revealed that it has lowered its full year profit guidance to between £20-£25m after market demands weakened in January and February Alongside this, the company lowered its revenue guidance down to £1bn-1.15bn, a £60-65m drop. The company has warned that these ranges do not factor in the risk…
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