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 -11 March
Golden Goose revenues rise 18% in FY23
Italian shoe brand Golden Goose has experienced an 18% rise in net revenues to €587m (£500m) for the year ended 31 December 2023 ahead of its IPO this year. During 2023, the group reported that adjusted EBITDA stood at €200m (£170m), spelling an increase of 19% on FY22. The retailer…
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11 March
Elliott ditches Currys takeover plans
Elliott Management has abandoned plans to buy Currys after claiming that “multiple” attempts to engage with the company’s board were “rejected”. The US investment group initially offered to buy Currys for 62p per share before raising the offer to 67p last month. Currys said the proposals “significantly” undervalued the group,…
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11 March
Currys appoints Octavia Morley as non-executive director
Currys has announced the appointment of Octavia Morley as a non-executive director and a member of the company’s Remuneration, ESG and Nominations Committees with effect from 1 April 2024. The group has also announced that Tony DeNunzio, senior independent director, will step down as a director on 25 April 2024…
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11 March
HMV owner considers Body Shop rescue bid
HMV owner Doug Putman is reportedly considering a bid to acquire the body shop from its administrators. According to The Telegraph, Putman has yet to table any formal offer but his interest has raised hopes that the firm may yet be saved. This news follows reports that The Body Shop…
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8 March
Today’s news in brief-8/3/24
Superdry has partnered with restructuring firm Teneo to explore cost-saving measures amid financial struggles. With a reported revenue decline of 23.5% in the first half of the year to £219.8m, Superdry is considering options such as a company voluntary arrangement (CVA) or restructuring plan to navigate the challenging retail market.…
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8 March
Majestic opens latest small-format store in Marlow
Majestic has opened the doors to its newest small-format store in Marlow ahead of the four-day Easter weekend. The 2,200 sq ft unit is around half the size of the average Majestic store, and stocks a “carefully” curated range of more than 600 wines – including a dedicated area for…
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8 March
M&S expands Nobody’s Child presence to 60 stores
M&S has announced it will welcome fashion brand Nobody’s Child to 48 more stores across the UK from March, bringing the total number of M&S stores the brand is available in to 60. As well as welcoming the brand back to popular locations including Trafford Manchester, the pop-up shops will…
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8 March
Frasers Group puts Matches into administration
Frasers Group has announced that it has put Matches into administration just two months after acquiring the business. Frasers stated that the decision had been taken after Matches consistently missed its business plan targets and made material losses outside of funding from Frasers. It is unclear whether Frasers is looking…
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8 March
Abercrombie and Fitch sales hit $4.3bn in FY23
Abercrombie and Fitch has reported net sales of $4.3bn (£3.4bn) for the full-year ending 3 February, up 16% as compared to last year. Throughout the year, Abercrombie brands finished with a 27% net sales growth to $2.2bn (£1.7bn) compared to $1.7bn (£1.3bn) in 2022, reflecting a 10% compound annual growth…
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8 March
Deliveroo expands Screwfix partnership to 15 locations
Deliveroo has reportedly expanded its Screwfix partnership to 15 locations since its launch, according to Retail Week. The news comes after the exclusive tie-up between the two groups was announced in November 2023 as part of its Deliveroo Shopping feature, which allows users to shop from a range of non-food…
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