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.
-
Nov- 2023 -22 November
Urban Outfitters owner hits ‘record’ $1.28bn in Q3 sales
Urbn, the parent company of Urban Outfitters, Free People and Anthropologie, revealed it experienced “record” sales of $1.28bn (£1.02bn) during the third quarter of the year, ending 31 October. This comes despite sales at Urban Outfitters dropping 14.2% during the period. The group also experienced a 3.6% drop in wholesale…
Read More » -
22 November
Victoria Plumbing sees revenues and profits rise in FY 2023
Victorian Plumbing Group has reported a 26% increase in operating profits to £15.3m and a 6% increase in revenues to £285.1m, for the year ended 30 September 2023. Its gross profit was up 11% compared with last year at £134.6m and adjusted EBITDA also increased 22% to £23.8m. The group…
Read More » -
21 November
Today’s news in brief-21/11/23
AO World has reported a significant turnaround in its financials for the six months ending September 30. The company posted a profit before tax of £13m, marking a notable improvement from the previous year’s loss of £12m. AO World has adjusted its profit guidance for the fiscal year, now anticipating…
Read More » -
21 November
Businesses call to freeze Northern Ireland rate
A diverse range of business organisations have united to call on the leaders of the local political parties to support their call for the regional rate in Northern Ireland to be frozen. The director of the Northern Ireland Retail Consortium, Neil Johnston led the appeal and has been supported by…
Read More » -
21 November
AO World ups guidance as profits hit £13m
AO World has upped its profit guidance after it posted profit before tax of £13m, up from a loss of £12m, for the six months ended 30 September. As a result the company now expects to end the financial year with a profit before tax of between £28m and £33m.…
Read More » -
21 November
Footfall improves ahead of Black Friday
Footfall edged up 0.4% in the week before Black Friday across all retail destinations, new data from MRI Software suggests. High streets recorded the strongest performance where footfall rose 1%. Shopping centres also witnessed a modest rise in footfall of 0.6%, however retail parks saw footfall decline by 1.3% from…
Read More » -
21 November
Iconix acquires streetwear brand Hoodrich
Brand management company Iconix International Inc. has acquired majority ownership of British streetwear brand, Hoodrich, in partnership with founder Jay Williams, who will retain an ownership interest. The deal, for an undisclosed sum, is based on a “shared vision” that the brand is poised to accelerate its already rapid growth…
Read More » -
21 November
M&S granted Judicial Review over Marble Arch redevelopment
M&S has received permission from the High Court to apply for Judicial Review for the redevelopment of the retailer’s Marble Arch store. The green light for Judicial Review comes after the Secretary of State for Levelling Up, Housing and Communities, Michael Gove, refused planning permission for the retailer’s Central London…
Read More » -
20 November
Today’s news in brief-20/11/23
Van hire firm Redde Northgate has reportedly approached Halfords with a proposed £1.3bn merger deal, indicating a nil-premium merger. Talks between the two companies took place, but Halfords reportedly deemed the offer as significantly undervaluing the business. Halfords, boasting nearly 400 stores and 650 garages, is valued at £512m, while…
Read More » -
20 November
Under Armour to debut location at The O2
Sports apparel brand Under Armour will be making its London outlet debut at the The O2 in early December. Under Armour will be opening a 3,949 sq ft unit on the lower level of outlet shopping at The O2, neighbouring anchor stores Nike and adidas. It will stock a selection…
Read More »
