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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May- 2024 -22 May
General election called for 4 July
Prime minister Rishi Sunak has confirmed that a general election will take place on Thursday 4 July. The prime minister informed the cabinet of his plans in a meeting held this afternoon (22 May). As a result the parliament will be dissolved next week. Sunak had previously confirmed that an…
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22 May
Mango opens new store in Angel Central
Fashion brand Mango has announced the opening of a new location at Angel Central, the retail and leisure destination located in the heart of Islington, as the brand continues to roll out its ambitious expansion plans. The leading retailer has opened a 3,200 sq ft unit on Angel Central’s ground…
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22 May
Inflation falls to 2.3% in April
Inflation has fallen to its lowest level in almost three years to 2.3% in April, down from 3.2% in March, according to the latest figures from the Office for National Statistics (ONS). On a monthly basis, CPI rose by 0.3% in April 2024, compared with a rise of 1.2% in…
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22 May
M&S sees PBT soar to £672.5m
M&S has revealed that its profit-before-tax rose to £672.5m, up from £475.7m, for the year ended 30 March 2024. Alongside this, the company’s profit before tax and adjusting items was £716.4m, up from £453.3m. Overall, the retailer’s revenue jumped 9.3% from £1.19bn last year up to £1.3bn this year. Its…
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22 May
Music Magpie trading in line with expectations amid takeover talks
Music Magpie has announced that its Q2 trading has been broadly in line with management’s expectations and has benefitted from cost control and lower overheads amid takeover talks. Ahead of its AGM today (22 May 2024), the group has stated that its FY23 financial results on 13 March 2024, started…
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22 May
Co-op unveils ‘ambitious’ sustainability targets
The Co-operative has unveiled new and “ambitious” sustainability targets, which includes reducing carbon emissions across the supply chain. This comes as Co-op has already hit its original greenhouse gas target early, ahead of its official 2025 goal. These new sustainability targets, which are aligned to the retailer’s credit facilities, aim…
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22 May
Superdry announces restructuring measures to avoid administration
Superdry has revealed its capital and restructuring measures to avoid running an emergency four-week sale process. Earlier in April, the struggling retailer had announced it was launching a restructuring plan which would principally involve a restructuring of its UK property estate and retail cost base. Now the retailer has revealed…
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22 May
THG shareholder to vote against chair reappointment
An activist investor in THG is reportedly set to vote against the reappointment of chair Charles Allen as it criticised the group’s “poor” share price and “major” strategic and structural issues. According to The Financial Times, Kelso, a UK investment firm that owns about 0.5% of THG’s shares, said it…
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21 May
Today’s news in brief-21/5/24
Zuber Issa is poised to acquire the UK arm of EG Group, a move indicating the Issa brothers’ business paths are diverging. This acquisition excludes Cooplands bakery, certain Starbucks outlets, and EG’s electric vehicle charging business, Evpoint, with the deal expected to conclude by late June. Additionally, Zuber Issa is…
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21 May
Topps Tiles sees profits and sales fall amid ‘weak market’
Topps Tiles posted a loss before tax of £1.5m for the 26 weeks ended 30 March 2024 as it faced a “challenging” tile market. The group also saw revenues decline 5.8% to £122.8m, down from £130.3m the previous year. It said this was impacted by lower footfall which led to…
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