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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Jan- 2024 -9 January
Boohoo eyes closure of Leicester factory
Boohoo Group is looking to close its Thurmaston Lane factory in Leicester in favour of relocating its operations, Drapers has reported. The news comes after the online fashion retailer entered a consultation last month, which revealed that “less than 100” employees will be impacted at the so-called “model factory” in…
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9 January
B&M sales rise 5% to £1.6bn in Q3
B&M has reported that year-on-year revenues rose by 5% to £1.6bn in Q3 2024. In the 14-week period to 30 December 2023, B&M UK like-for-like revenue growth was 1.2%, driven by “positive transaction numbers”. Meanwhile, Q3 YTD increased 8.1% YoY to £4.1bn. During the period B&M UK revenue increased 3.7%…
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8 January
Today’s news in brief-8/1/24
The UK retail sector faced challenges as almost 120,000 jobs were lost and over 10,000 stores closed, according to data from the Centre for Retail Research. Despite a -38.8% decrease in store closures compared to 2022, and a -21.3% reduction in redundancies, the improvement is seen as “less bad” rather…
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8 January
Nisa announces £1m price drop campaign
Nisa has recently announced a £1m price drop campaign to lower the wholesale selling price (WSP) of hundreds of products, as part of its strategy to ensure its retailers remain competitive. Launching today (8 January), the campaign will focus on areas which have been highlighted as a priority by its…
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8 January
Majestic sales rise 8.1% in run-up to Christmas
Majestic has experienced its “best ever” Christmas trading period after recording a 8.1% increase in total sales in the eight weeks to 25 December. Retail sales also grew compared with the same period last year, as Majestic stores served 63,000 new customers ahead of the holidays. Friday 22 December became…
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8 January
£90m Oxford Street revamp project to begin in autumn
Westminster City Council has greenlit the £90m renovation of Oxford Street and has set to move the programme forward with construction due to start in autumn 2024. The news comes after the council received positive feedback from more than 1,600 people in the borough, as well as support for all…
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8 January
Sandersons sales grow 5% to £7m in 2023
Sandersons Boutique Department Stores has reported a 5% retail sales growth in 2023 across the company’s three bricks and mortar stores and online, with a “strong” November and December. The independent department store chain has seen retail sales grow from £564k in 2016 to almost £7m in 2023, despite a…
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8 January
iSmash eyes sale amid growing losses
iSmash is reportedly exploring a possible sale of the business after its auditors warned of a “material uncertainty” over its future amid growing losses, the Times has reported. According to its recent trading update, the company revealed it fell further into the red in the year to the end of…
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8 January
Matalan invests £35m to lower prices
Matalan has announced that it has invested £35m to cut prices on over 700 products amid the ongoing cost of living crisis. The investment is funding price reductions across all core categories from January, online and in store. Prices are being cut by an average of 15% across core and…
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8 January
120,000 retail jobs lost in 2023
Almost 120,000 retail employees lost their jobs in 2023 after more than 10,000 shops shuttered over the year, according to new data from the Centre for Retail Research. It found that during the 2023 calendar year, a total of 119,405 jobs were lost and 10,494 stores were shuttered across the…
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