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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Nov- 2023 -3 November
October washout sees footfall drop 5.7% in October
Footfall decreased 5.7% in October as wet weather negatively impacted consumers’ willingness to visit UK highstreets, according to the latest data from MRI Springboard. It found that high street footfall decreased by 4.6% in October (YoY), down from -1.7% in September. Meanwhile, retail parks experienced a 4.3% decline, down from…
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2 November
Today’s news in brief-2/11/23
Sainsbury’s announced that it expects to hit the upper half of its full year guidance of between £670m and £700m despite seeing its statutory profit before tax drop 27% to £275m for the 28 weeks ended September 16, 2023. The supermarket attributed the fall in profit before tax to non-cash…
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2 November
Trafford Palazzo celebrates Showcase’s four-week residency
Trafford Palazzo and Showcase are celebrating the brand’s four-week residency, with Showcase having made its North West debut at the UK’s first next generation retail and experience centre. Showcase ran four consecutive weekends of highly sought-after sample sales in Trafford Palazzo’s dedicated 6,960 sq ft white box promotional space, TP…
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2 November
BP opens new retail stores in North Yorkshire and West Sussex
BP has opened two new retail stores in Norton-on-Derwent, North Yorkshire, and in the village of Faygate in West Sussex, creating just under 50 new jobs across the two areas. The Norton-on-Derwent store, which opened on 18 October, will serve drivers travelling between the towns of Malton and Norton-on-Derwent, around…
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2 November
Sainsbury’s set to hit upper half of guidance despite PBT drop
Sainsbury’s has announced that it expects to hit the upper half of its full year guidance of between £670m and £700m despite seeing its statutory profit before tax drop 27% to £275m for the 28 weeks ended 16 September 2023. The supermarket put the fall in profit before tax down…
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2 November
Castore continues expansion drive with three store openings
Premium British sportswear brand, Castore, has continued to celebrate its successful expansion and rapid growth with new store openings both in the UK, Ireland, and the Middle East. The brand, which was founded in 2015 by Wirral-based brothers Phil and Tom Beahon, has thrived since its inception and has seen…
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2 November
Asos to mothball Lichfield warehouse amid falling profits
Asos is planning to mothball its second UK fulfilment centre in Lichfield next year, as part of efforts to cut costs after the group revealed losses widened in its latest full-year results. In its latest financial results, Asos said that mothballing the site will provide an annual cost saving of…
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2 November
Zalando EBIT up 72% despite falling Q3 revenues
Zalando has reported that its EBIT increased 72% to €23.2m (£20.2m) during Q3, despite revenues and gross merchandise volumes falling by 3.2% and 2.4% respectively. The online fashion retailer managed to improve its EBIT during the quarter through reduced logistics costs, but revenues did not materialise amid low consumer sentiment…
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2 November
Profits and revenues surge at Kurt Geiger
British accessories brand Kurt Geiger has reported a 49% increase in EBITDA to £30m and a 31% increase in revenues to £329.5m for the 12 months ended 28 January 2023. As the brand celebrates its 60th anniversary, it attributed the growth in sales and profits to its continued expansion in…
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1 November
Today’s news in brief-1/11/23
Asda has successfully finalised its acquisition of EG Group’s UK business, a deal valued at a substantial £2bn. This strategic move allows Asda to take ownership of EG Group’s UK&I operations, which encompass fuel, foodservice, grocery, and merchandise businesses. Notably, EG Group has clarified that it will retain operations in…
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