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 -27 March
Travis Perkins’ CEO Nick Roberts to step down
The board of Travis Perkins has revealed that Nick Roberts is set to step down from his role as chief executive officer and from the board after five years in the role. The British builders’ merchant and home improvement retailer said its board and Roberts are aligned that “now is…
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27 March
H&M H1 profits beat expectations despite sales dip
H&M has revealed that its operating profit increased to SEK2.077bn (£155m), up from SEK725m (£54m) despite net sales decreasing to SEK53.6bn (£376m) during the first quarter of the year ended on 29 February 2024. The group has said that sales from 1-25 March increased by 2% in local currencies compared…
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27 March
Revolution Beauty ups profit guidance amid revival plan
Revolution Beauty has announced that it expects its full-year adjusted EBITDA to hit £12.5m higher than its previous guidance of between £11m-£12m. Alongside this, the company stated it expects revenue growth of approximately 2%, in line with its expectation of low single digit growth. This news comes as the company…
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27 March
Asos, Boohoo and Asda commit to green claim changes after CMA probe
Asos, Boohoo and George at Asda have committed to change the way they display, describe, and promote their green credentials, after the Competition and Markets Authority (CMA) launched an investigation to scrutinise their fashion ‘green claims’. The CMA launched the review in July 2022 having identified concerns of possible greenwashing…
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26 March
Today’s news in brief-26/3/24
Asos reported an 18% decline in sales during the first half of fiscal year 2024, yet maintained its profit guidance. Despite the sales dip, Asos showcased strong free cash flow performance, reaching £20m, its best since FY17. CEO José Antonio Ramos Calamonte highlighted the company’s progress in implementing its ‘Drive…
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26 March
Arket to open first store in Ireland
Nordic fashion and lifestyle brand Arket continued its expansion in Europe with the opening of a flagship store in Dublin during 2024, the first destination in Ireland. Based in Sweden, Arket is a modern-day market and lifestyle brand. The collections offer ready-to-wear and accessories for women, men, and children, complemented…
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26 March
Asos maintains profit guidance despite HY sales falling 18%
Asos has reported that sales fell by 18% during the half-year period to 3 March, which the online retailer maintained is still broadly in line with expectations. According to the group, it expected FY23 trends to continue through to the first half of FY24, as it worked to improve…
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26 March
Holland & Barrett names new UK&I CEO amid leadership shake up
Holland & Barrett, the health and wellness business, has announced the appointment of Anthony Houghton as its new CEO of UK&I. The appointment comes as the retailer also announced changes to its structure to help further accelerate its growth and transformation strategy including the creation of three new divisions. Also…
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26 March
Ocado sales rise 10.6% to £645.3m in H1
Ocado has revealed sales increased 10.6% to £645.3m in the 13 weeks to 3 March 2024, up from £583.7m the previous year. It comes as the online supermarket said active shopper numbers for the group rose 6.4% to one million as average orders per week of 414,000 grew 8.4% compared…
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26 March
Pets at Home expects FY PBT to hit £132m
Pets at Home has revealed that it expects its full-year profit before tax to be £132m, in line with its previous guidance. This comes as the company stated that its Q4 trends across its retail and vet arms have been broadly in line with expectations. It now successfully launched its…
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