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 -15 December
Amazon wins £215m EU tax battle
Amazon has won its case against the EU Commission over a £215m tax battle in the European Court of Justice. The Commission had alleged that Amazon had struck a deal with Luxembourg enabling the company to avoid 75% of its EU tax. The ECJ dismissed the claims insisting it had…
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15 December
Sosandar appoints new non-exec chairman
Sosandar has announced the appointment of Nick Mustoe as non-executive chairman. Mustoe has been interim non-executive chairman since 16 March 2023. In addition, the company has announced that Jon Wragg, independent non-executive director, has notified the board of his intention to step down in order to focus on other commitments,…
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15 December
Currys boss criticises gov’s minimum wage plans
Currys CEO Alex Baldock has accused the government of not caring about the retail industry after claiming its decision to raise the minimum wage would “load more costs onto an already overburdened sector”. It comes after chancellor Jeremy Hunt outlined plans to raise the legal minimum wage by 10% to…
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15 December
Naked Wines H1 sales fall 20% as losses widen
Naked Wines total revenues fell by 20% to £132.3m during the six months ended 2 October, while its pre-tax losses widened to £9.7m from £200k a year earlier. The results come as the retailer’s revenues dropped in all markets, which it attributed to a reduction in repeat customer sales. However,…
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14 December
Today’s news in brief-14/12/23
Farfetch is reportedly in talks with Apollo Global Management to secure emergency funding as it faces financial challenges. Farfetch, once valued at $23bn (£18bn) in 2018, now has a market value of $221m (£175m). While discussions with Apollo are ongoing, it is uncertain whether the funding will be provided as…
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14 December
Piglet in Bed opens first store in Harrogate
The British bedding and lifestyle brand, Piglet in Bed, has opened its first store in Harrogate this December. The retailer, which is known for its 100% linen bedding and other natural homewares, has been running as an ecommerce-only business since it was founded in West Sussex in 2017. The store…
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14 December
Bullring & Grand Central welcomes new retail openings
Hammerson has announced a flurry of new openings at Bullring and Grand Central, the culmination of a transformational year for the Birmingham city centre destination. Nike, Bershka, Pull&Bear, and M&S have opened just in time for the busiest shopping period in the calendar, alongside the Coca-Cola truck having arrived at…
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14 December
Currys maintains FY guidance despite half-year loss
Currys has maintained its full-year guidance despite reporting a pre-tax loss of £16m in its half-year results, which was in line with the £17m loss in the same period last year. In the half year ended 28 October 2023, group like-for-like revenues dropped by 4%, while currency neutral revenue dropped…
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14 December
MusicMagpie revenues bolstered by Black Friday
MusicMagpie expects its full-year revenues to reach £136.6m, slightly down from £143.3m in the year prior, despite a “record” Black Friday period which has helped off-set a softer H1. However, the retailer maintained that consumer technology revenues for the second half increased 7.5% over the same period in 2022, and…
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14 December
Retailers urge government to reform Apprenticeship Levy
Three leading trade bodies and seven food retailers are calling for urgent action to reform the broken Apprenticeship Levy system and address the “critical and persistent” labour shortages in the food supply chains. In a letter sent to the government, the British Retail Consortium (BRC), the National Farmers Union (NFU)…
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