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.
-
Feb- 2024 -29 February
Frasers Group CMO exits amid marketing team restructure
Frasers Group chief marketing officer Beckie Stanion has left her post amid a restructure of the company’s marketing team, leaving 20 jobs at risk, according to Drapers. The company stated this move aims to “improve operational efficiency and delivery across all areas of marketing functions” and the business has launched…
Read More » -
29 February
Ocado posts £394m FY loss despite improved cash flow
Ocado has posted a £394m pre-tax loss for FY23, despite also reporting strong revenues growth, positive adjusted EBITDA and improved cash flow across all of its businesses. The pre-tax loss comes after the retailer was boosted by £187m from a settlement with Norwegian competitor AutoStore. Despite the loss, the company…
Read More » -
29 February
Footasylum revenue jumps 7% to £320m in FY23
Footasylum has announced that its total revenue was up 7% to £320m for the financial year which ended 27 January 2024. EBITDA in FY24 for the group also jumped 38% to £22m, compared with £16m for FY23. The retailer experienced sales growth across all business channels during the year, helped…
Read More » -
28 February
Getir donates £30k to charity through Nisa partnership
Getir has donated £30,000 to London’s Community Kitchen (LCK) thanks to its long-standing partnership with Nisa. Getir began stocking Co-op products nationwide from November 2022 after a successful trial period in local London stores. Funds were made possible through Nisa’s registered charity, Making a Difference Locally (MADL), which raises funds…
Read More » -
28 February
Today’s news in brief-28/2/24
Shein is reportedly contemplating shifting its Initial Public Offering (IPO) from New York to London amidst anticipated regulatory hurdles in the US due to its Chinese affiliations. The move would mark one of London’s largest IPOs ever. Chancellor Jeremy Hunt has engaged in talks with Shein’s chairman, Donald Tang, urging…
Read More » -
28 February
Jollyes acquired by TDR Capital
Jollyes has been acquired by TDR Capital from previous owners Kester Capital, for what Kester calls a 4.2x return on investment. The investment, expected to be completed by the end of March, will enable Jollyes to continue to grow its store estate at pace. Upon completion of the deal TDR…
Read More » -
28 February
BP pilots made-to-order food at 10 Wild Bean Cafes
BP will be piloting a “new and improved” ‘fresh food for now’ offer that customers can personalise at 10 of its Wild Bean Cafes across the UK. The news comes as BP looks for new ways to drive convenience growth by giving “on-the-move” customers made-to-order, hot food options and coffee. …
Read More » -
28 February
N Brown receives SBT approval
N Brown Group has announced that its near-term science-based targets to reduce greenhouse gas (GHG) emissions have been approved by the Science Based Targets initiative (‘SBTi’). By 2030, the group has committed to reduce scope 1, 2 and 3 GHG emissions from its operations by 46% from a 2021 base…
Read More » -
28 February
Shein mulls London IPO amid resistance to New York listing
Shein is reportedly considering the possibility of switching its initial public offering to London from New York in what could be one of London’s biggest ever IPOs, Bloomberg has reported. According to reports, the fast-fashion company is in the early stages of exploring the London option in case US regulators…
Read More » -
28 February
Very Group secures £125m funding package amid £2m loss
The Very Group has announced it will receive a £125m funding package from investment firms Carlyle and IMI to support its growth strategy as it reported £2m half-year loss. The funding package, of which £85m will be provided by Carlyle Global Credit and a further £40m by Abu Dhabi-based IMI,…
Read More »
