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.
-
Apr- 2024 -2 April
Superdry CEO abandons takeover as Hilco extends funding facility
Superdry CEO Julian Dunkerton’s plan to takeover the group has fallen through, as the fashion retailer has announced a funding facility extension of £20m with Hilco. The news comes after Dunkerton’s deadline to make an offer for the retailer was extended earlier this month. A statement in the London Stock…
Read More » -
2 April
Naked Wines confirms Rodrigo Maza as new CEO
Naked Wines has confirmed the appointment of Rodrigo Maza as group chief executive officer effective from today (2 April), further to the announcement made on 5 February. Maza has been the group’s UK managing director since September 2023, and will now work alongside chairman Rowan Gormley over the next few…
Read More » -
Mar- 2024 -28 March
Today’s news in brief-28/3/24
AO expects to meet profit guidance, anticipating adjusted profit before tax to be at the top end of £28-£33m for the 12 months ending 31 March. Revenues are projected to reach £1.04bn, driven by positive trading in the core business through Q4 and the return of revenue growth for AO.com.…
Read More » -
28 March
Tesco and NatWest join forces to help farmers with decarbonising costs
Tesco and NatWest have launched a new discounted climate and sustainable finance scheme for 1,500 of the retailer’s farmers providing them with financial assistance in order to switch to sustainable farming methods. The voluntary programme, which has been designed with farmers’ input, will see farmers who are part of Tesco’s…
Read More » -
28 March
JD Sports maintains guidance amid ‘challenging market’
JD Sports has reaffirmed its profit guidance of between £915m-£935m for the full year despite what it has called a “challenging market”. In Q4 its like-for-like sales were up 0.1% and organic sales were up 4.4% while FY24 LFL sales were up 4.2% and organic sales growth was 8.4%. Overall,…
Read More » -
28 March
AO to meet profit guidance
Electricals retailer AO has announced that it expects to hit its previously pledged profit guidance with adjusted profit before tax expected to be at least at the top range of £28-£33m for the 12 months ending 31 March. According to its pre-close update, the group also anticipates its revenues to…
Read More » -
28 March
Quiz CEO steps down as sales dip
Quiz has revealed that founder and CEO Tarak Ramzan is stepping down from his role with immediate effect as UK sales continue to be impacted by “subdued levels of traffic” in-store and online. Ramzan, as the largest shareholder of the company, will assume a non-executive director role. Having founded the…
Read More » -
28 March
The Perfume Shop appoints two new directors amid Gender Pay Gap report
The Perfume Shop has strengthened its leadership team with the appointment of two female directors, Karen Harris and Laura Wilkinson. Harris, who was previously head of marketing, will take up a new position of customer director and be responsible for all areas of Customer, Loyalty, Marketing and PR. Wilkinson, previously…
Read More » -
27 March
Today’s news in brief-27/3/24
Fashion giants ASOS, Boohoo, and George at Asda have pledged to overhaul their green marketing tactics following a Competition and Markets Authority (CMA) investigation. The CMA’s scrutiny was prompted by concerns of greenwashing in the fashion industry. The firms will now ensure that their green claims are clear, specific, and…
Read More » -
27 March
Elemis to open first London store in Covent Garden
Beauty retailer Elemis has chosen Covent Garden’s Seven Dials for its first standalone store in London. Set to Monmouth Street, the premium skincare brand will open a 1,000 sq ft unit and will feature its formulated range of skincare, grounded in aromatherapy and backed by clinical trials. Launching in Spring,…
Read More »
