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 -21 May
Shoe Zone profits remain flat amid rise in revenues
Shoe Zone has reported that its adjusted profit before tax remained flat at £2.5m for the 26 weeks to 30 March 2024, as the business was affected by costs relating to increase in National Living Wage, shipping delays due to disruptions in the Middle East and its store strategy. However,…
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21 May
Zuber Issa set to acquire EG Group UK arm
Zuber Issa is set to acquire the UK arm of EG Group showing further signs of the Issa brothers business interests diverging. The deal excludes the Cooplands bakery, some Starbucks stores, and EG’s electric vehicle charging business Evpoint and is set to be finalised by the end of June. The…
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21 May
B&Q owner holds guidance as UK&I outperforms European arms
Kingfisher has announced that it will be maintaining its profit guidance after Q1 sales at B&Q in the UK and Ireland offset its weaker performance at its groups in France and Poland. During the period to 30 April, sales rose 0.3% to £3.3bn. However, sales declined 0.9% on a like-for-like…
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21 May
Frasers Group eyes 50% stake in Crown Estate
Frasers Group is reportedly the frontrunner for the acquisition of a stake in Exeter’s Princesshay Estate and shopping centre, The Times has revealed. The Mike Ashley-owned group is reportedly considering taking a 50% stake in the Crown Estate from investment firm Nuveen. Nuveen, which bought its share from Landsec in…
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21 May
The Works expects return to profit amid cost-cutting plans
The Works is anticipating a return to profit in its new financial year, having reported flat sales for FY24, following its relisting to AIM and further cost-cutting measures. In its latest trading update for the year ended 5 May 2024, revenues inched up by 0.9% to £282.6m, while total like-for-like…
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20 May
Today’s news in brief-20/5/24
Asda reported a robust financial performance for Q1 2024, with a 6.6% increase in total revenues (excluding fuel) to £5.3bn and a 1.4% rise in like-for-like sales. The supermarket chain saw notable growth in its George at Asda clothing line and homewares, with the latter boosted by the new Stacey…
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20 May
Waitrose to open Gail’s bakery in-store
Waitrose Canary Wharf has announced it will become the first location with an in-store Gail’s takeaway bakery. The opening comes a year on from the introduction of dedicated Gail’s bakery areas within 64 Waitrose stores. The bakery is being built in Gail’s unique style and will be 280 sq ft…
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20 May
Victorian Plumbing Group acquires Victoria Plum for £22.5m
Victorian Plumbing, the bathroom retailer, has announced the acquisition by Victorian Plumbing Limited, a subsidiary of the company, of the entire issued share capital of AHK Designs Ltd, trading as Victoria Plum in a £22.5m deal. The acquisition of the online only bathroom retailer is on a cash free, debt…
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20 May
British Land sells 50% Meadowhall stake for £360m
British Land has announced that it has sold its 50% stake in the Meadowhall shopping centre in Sheffield. The company has revealed it has sold its stake to Norges Bank Investment Management for £360m. This follows the sale of some ancillary land by the Joint Venture for £7m (British Land…
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20 May
New Look to invest £3.3m in 20 Greater Manchester stores
New Look has announced a £3.3m investment to upgrade and improve its stores in Greater Manchester. The retailer will initially trial several initiatives in its 20 stores in the area over the next 12 months to create a blueprint for further improvements across its wider estate. This will centre around…
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