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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Mar- 2024 -21 March
Today’s news in brief-21/3/24
Reports suggest that Kingfisher, the owner of B&Q, is contemplating a bid for Homebase’s stores in the Republic of Ireland, signalling a potential rebranding of the Homebase outlets under the B&Q fascia. Homebase, currently owned by Hilco Capital, operates eight stores in Ireland and has been exploring a sale of…
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21 March
Alibaba records rise in SME buyers at March Expo 2024
Alibaba.com has recorded a positive rise in the number of active B2B buyers from the UK at this year’s March Expo 2024. March Expo, which is Alibaba.com’s flagship online trade show, aims to connect buyers and sellers from around the world, helping them to discover new products, services and possibilities…
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21 March
Co-op launches ‘Best of British’ section online
Co-op has launched a dedicated “Best of British” section across its online delivery website to further demonstrate its commitment to British sourcing. The convenience retailer has added the new British section on its same-day delivery website to offer a convenient way for member owners and shoppers to browse and order…
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21 March
Majestic in advanced talks to snap up Vagabond Wines
Majestic Wine, which is owned by Fortress Investment Group, is reportedly in advanced talks to acquire Vagabond Wines, according to Sky News. The news comes after the London-based chain Vagabond Wines filed notice to appoint administrators earlier this month. Vagabond Wines was founded in 2010 by Stephen Finch in Fulham.…
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21 March
Next profits hit record high of £918m
Next has revealed its profit before tax increased 5% to £918m as it focused on improving its product ranges, online service levels and managing its costs and profitability. It comes as group sales also increased 6% to £5.84bn as the company onboarded further companies onto its Total Platform. Next also…
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21 March
Temu revenues double to £27bn in FY23
Temu owner PDD Holdings has reported total revenues at the discount e-retail group hit ¥247bn (£27bn) in the full year to 31 December 2023, nearly doubling from ¥130bn (£14.2bn) in 2022. The group attributed its financial performance to its marketing efforts, which led to more transactions. As a result, operating…
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21 March
Kingfisher mulls bid for Homebase stores in Ireland
Kingfisher, the owner of B&Q, is reportedly mulling a bid for Homebase’s stores in the Republic of Ireland, following reports the wider Homebase business is up for sale. According to The Times, the move would see the end of Homebase stores in the country, as Kingfisher would most likely rebrand…
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21 March
Aldi forecasts record-breaking Easter sales
Aldi has revealed that it expects record-breaking sales across the Easter period which this year comes early with Easter Sunday on 31 March. The budget supermarket is set to sell around 20 million hot cross buns and 8.6 million of its own-label chocolate eggs. It predicts that lamb sales will…
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20 March
Today’s news in brief-20/3/24
UK inflation dropped to 3.4% in February 2024, surpassing economists’ expectations of 3.5%. This decline was mainly attributed to easing food inflation. The prices of bread and cereals rose slightly by 0.3% compared to a significant increase of 2.3% in the previous year, contributing to the overall decrease in food…
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20 March
Holland and Barrett to increase hourly staff pay to £12
Holland and Barrett is set to increase its hourly pay by 9% to £12, almost 5% above the National Living Wage, from April. The retailer’s London-based employees will receive a further increase to £13 an hour. The new upcoming pay rates will mean that in the past two years alone,…
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