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.
-
Jan- 2024 -12 January
Fortnum & Mason sales up 17% in run-up to Christmas
Fortnum and Mason has welcomed a period of strong trading over the festive period, with year-on-year sales up by 17% in the five weeks ahead of Christmas, largely boosted by food and decorations. Over six million customers shopped with the retailer over the period, 30% more than the year prior,…
Read More » -
12 January
UK economy rebounds in Nov
The UK economy rebounded in November as monthly GDP increased 0.3% off the back on a 0.3% fall in October, according to the latest data from the Office for National Statistics (ONS). The ONS said services output jumped 0.4% in November 2023 and was the main contributor to the monthly…
Read More » -
12 January
Wolf and Badger sees record festive trading
Wolf and Badger has reported record-breaking festive trading and has also achieved 15% revenue growth for 2023. Additionally, it maintained consistent profitability throughout the year, which meant it reported its first full-year EBITDA profit despite a challenging market. In addition to its online presence, the brand operates stores in London,…
Read More » -
12 January
Authentic Brands acquires Sperry
Authentic Brands Group has announced the acquisition of Sperry, an American heritage footwear brand. As a result of this the Aldo Group comes on board as Sperry’s North American operating partner for wholesale, e-commerce and store operations. The brand is renowned for its iconic boat shoes and has heritage spanning…
Read More » -
12 January
John Lewis appoints department store and operations directors
The John Lewis Partnership has announced the appointment of Peter Ruis as executive director of the retailer’s department stores and Naomi Simcock the new operations director. A former John Lewis director, Ruis will rejoin the executive team on 15 January, having more than 30 years of leadership experience at a…
Read More » -
12 January
Burberry lowers full-year guidance amid luxury demand slowdown
Fashion retailer Burberry has today (12 January) warned that its full-year results will be below its previous guidance after a slowdown in luxury demand. In the 13 weeks to December 30, retail revenue fell 7% to £706m. Comparable store sales fell 4%, with sales in the EMEIA and Americas regions…
Read More » -
11 January
Today’s news in brief-11/1/24
Marks & Spencer emerged as the top-performing grocer in volume growth during the Christmas period and the quarter. Food sales rose by an impressive 10.5%, with like-for-like sales up 9.9%. Clothing and home sales also experienced growth of 4.8%, attributed partly to reduced promotions. Supply chain improvements contributed to better…
Read More » -
11 January
Online fashion revenues rise 6% YoY in December, True Fit finds
Online fashion revenues rose by 6% year-on-year in December 2023 compared with the same time last year, buoying the overall “muted” Golden Quarter fashion sales, True Fit data has revealed. True Fit’s Fashion Genome, which pulls together the preferences of 82 million active shoppers and over 20,000 brands, showed that…
Read More » -
11 January
Gloucester Quays sees record year of leasing in 2023
South West urban outlet Gloucester Quays is celebrating a year of record leasing in 2023. The sector-leading retail and leisure destination saw double-digit growth at the close of 2023, exceeding targets across footfall and sales, and experiencing high demand from international powerhouse brands throughout the year. Gloucester Quays enjoyed a…
Read More » -
11 January
Tesco ups guidance as sales jump 6.9%
Tesco has announced that its sales increased 6.9% for the 19 weeks ended 6 January 2024 after stronger than expected volume growth in the period. As a result the company now expects a retail adjusted operating profit of around £2.75bn, above its previous guidance range of £2.6bn to £2.7bn The…
Read More »
