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 -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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23 November
Blakemore Retail acquires Hockmeyer Motors Limited
The UK’s largest SPAR Retail Distribution Company A.F. Blakemore and Son Limited has expanded its operation in Sleaford, Lincolnshire after agreeing a deal to purchase Hockmeyer Motors Limited. Rachael Hockmeyer and Christian Slingsby joined the business in 1999 and has owned and operated it since 2007. The 2,100 sq ft…
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23 November
Today’s news in brief-23/11/23
The British Retail Consortium (BRC) has criticised the chancellor, accusing him of neglecting larger businesses in his Autumn Statement. While the business rates multiplier for small businesses was frozen, larger ones received no relief. The decision to increase the business rates standard multiplier has drawn sharp criticism, with BRC’s CEO,…
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23 November
Rituals and Miniso open stores at Derbion
Midlands’ retail and leisure destination, Derbion, has announced that Rituals and Miniso have taken up leases. The news follows a string of recent openings at the centre including Yankee Candle’s 1,300 sq ft store and TUI’s all-new 1,000 sq ft space. Rituals has signed a lease for a 1,700 sq…
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