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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Dec- 2023 -22 December
Nike lowers sales forecast amid $2bn cost savings plan
Nike has announced that it is set to make cost savings of $2bn (£1.57bn)across the next three years and has lowered its sales forecast. This news caused the sportswear retailer’s stock price to drop over 11% in after hours trading yesterday. The company expects a pre-tax charge of between $400m(£315m)…
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21 December
Today’s news in brief-21/12/23
Frasers Group has confirmed its acquisition of the Matches business from MF Intermediate Limited in a deal estimated at £52m. The deal involves the purchase of 100% of the shares of six companies, along with the senior and junior debt owed by these entities. The transaction, to be settled in…
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21 December
Nike Rise to open at Trinity Leeds in 2024
Nike has announced that it will bring its concept store, Nike Rise, to Trinity Leeds next year. The retailer will join a number of international brands who have signed at the centre this year. The 10,000 sq ft Nike Rise store aims to enhance shopping experiences through innovative digital experiences…
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21 December
4,500 retailers in critical financial distress, new data reveals
Nearly 4,500 retailers are now in critical financial distress as poor consumer confidence, “sticky” inflation, and elevated interest rates force consumers to hold back from spending big, even in the run up to Christmas, according to new data from Begbies Traynor. Following its findings, which analysed the first 10 weeks…
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21 December
Frasers Group acquires Matches for £52m
Frasers Group has confirmed it has acquired the Matches business from MF Intermediate Limited in a deal estimated to be around £52m. The company has purchased 100% of the shares of a group of six companies, as well as the acquisition of the senior and junior debt owed by those…
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21 December
Mango welcomes ‘record’ year as sales top €3bn
Mango has welcomed a “record” year of sales in 2023, with expectations that full-year turnover will hit €3bn (£2.6bn), surpassing its current sales record of €2.68bn (£2.3bn). The news comes as the Spanish fashion group expanded its online sales to 20 new countries in the last 12 months, exceeding 110…
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20 December
Today’s news in brief-20/12/23
New figures from the Office for National Statistics (ONS) reveal that UK inflation has decreased to 3.9% in the year to November, marking a two-year low. The rate fell from 4.6% in October, below expectations. The ONS attributes this decline to factors such as lower fuel prices, reduced prices for…
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20 December
Direct Selling Association appoints new board chair
The UK trade body for direct-to-consumer retail, the Direct Selling Association (DSA), has announced the appointment of Ayo Olaseinde as the new chairman of the board. Olaseinde, who joined the DSA board earlier this year, takes on the chair role alongside his position as president at Saladmaster, the US-based international…
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20 December
Alibaba chief to head e-commerce arm
Alibaba Group has announced that chief executive Eddie Wu will now serve as chief executive of the group’s ecommerce arm, Taobao and Tmall Group. He is currently chairman of Taobao and Tmall Group, and will take on the role of CEO with effect from today (20 December, 2023). In addition,…
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20 December
UK inflation falls to two-year low of 3.9%
UK inflation has fallen to 3.9% in the year to November, the lowest level seen in two years, according to new figures from the Office for National Statistics. The rate of inflation was lower than expected after falling from a rate of 4.6% in October, though the ONS said prices…
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