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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Nov- 2023 -28 November
Pets at Home maintains guidance despite fall in H1 profits
Pets at Home has maintained its profit guidance despite seeing underlying pre-tax profits slump 19.3% to £47.8m during the first half of the year ended 12 October. The retailer attributed the fall in profits to the costs associated with the relaunch of its brand and transition of stores to the…
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27 November
Made launches first store in Sheffield
Next has announced the opening of the first Made store, as it makes a return to the High Street. The new store opened its doors at Vulcan Road in Sheffield on Friday 24 November. Covering 4,000 sq.ft, the store will offer customers the opportunity to browse a range of design-led…
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27 November
Footfall jumps 7.9% during Black Friday
Black Friday footfall jumped by 7.9% against the week previous across all UK retail destinations, providing retailers with a much needed boost during the Golden Quarter, according to the latest figures from MRI Software. Much of the uplift was driven by Black Friday itself, with destinations benefiting from increased footfall…
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27 November
Asos ditches diversity goals in bonus scheme
Asos leadership team will reportedly no longer need to hit diversity targets as part of the criteria to achieve annual bonuses, according to The Telegraph. The outlet revealed that Asos has decided to prioritise financial targets as the embattled online retailer focuses on improving its share price and profit margins. …
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27 November
Mountain Warehouse to open 50 stores in 2024 amid record revenues
Mountain Warehouse has revealed it will be opening a new branch every week in the run up to Christmas and 50 more stores next year, as it aims to ramp up its expansion plans. It comes as its revenues increased 22.6% to £371m in the year ending February 2023 amid…
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24 November
Julian Charles opens Castle Quarter store in Norwich
Bedroom furnishings retailer, Julian Charles, has signed a new five-year lease for the 1,800 sq ft unit at Norwich city centre destination, Castle Quarter. The new arrival further diversifies the offer at Castle Quarter, which in recent years has pivoted towards social, leisure and lifestyle to enrich its traditional retail…
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24 November
Joe Browns to open new store in Leeds
Joe Browns, the fashion and homes retailer, has announced the opening date of a new store at the city’s White Rose Shopping Centre, its first store in Leeds. The 3,000 sq ft Leeds White Rose store will have its grand opening on Saturday 2 December and will showcase its own…
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24 November
John Lewis to launch health clinics in-store
John Lewis has announced a partnership with diagnostic company Randox Health to launch clinics inside its stores. The clinics will provide a variety of health packages, including full body check ups, tests for gut, hormones, as well as genetic testing and other packages. Once samples have been analysed within Randox’s…
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24 November
Mothercare PBT improves despite sales slide
Mothercare has revealed its profit before tax improved to £2m for the 26 week period ending 20 September, despite seeing total worldwide retail sales fall 15% to £137.2m. The company also reported that, excluding franchise partners, it reported turnover of £29m, down from £38m the previous year, while group adjusted…
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24 November
Boots secures £4.8bn full buy-in with Legal and General for pension scheme
Boots has announced that Legal and General Group has agreed a £4.8bn full buy-in with the Boots Pension Scheme. According to the deal, liabilities for its pension scheme will be switched to the insurance firm. The buy-in secures the benefits of all 53,000 retirees and deferred members of the scheme,…
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