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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Oct- 2023 -27 October
Lakeland partners with Retail Trust for new staff wellbeing measures
Kitchenware and homeware retailer Lakeland has begun working with retail industry charity the Retail Trust to protect the wellbeing of its 1300+ members of staff. They will be given access to a range of personalised mental health resources thanks to the new partnership, including counselling and cognitive behavioural therapy for…
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27 October
Tesco names Matthew Barnes as new UK CEO
Tesco has announced the appointment of Matthew Barnes as its new UK CEO effective from March 2024, following news that current CEO Jason Tarry will be stepping down after 33 years at the retailer. Barnes is a highly accomplished retailer, having worked in many senior positions in Aldi. He was…
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26 October
Today’s news in brief-26/10/23
Majestic Wines has marked a significant milestone by opening two new stores in one week, a feat not accomplished in a decade. The first store, located in Chippenham, was reopened four years after its closure by previous management. The second, the largest in Wales, is the second-largest in the company’s…
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26 October
Fashion brand launched by Ukrainian refugee to open London pop-up
After launching her new fashion brand Nenya in Leeds in October last year, Ukrainian refugee Yana Smaglo is taking her latest fashion range to London with a pop-up shop. After launching in Yorkshire last year, the pop-up shop will be open to visit in London until 29th October, supported by…
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26 October
Some 88% of retailers expect sales boost from Black Friday
Some 88% of retailers are expecting Black Friday to have an impact on sales, closely followed by ‘Panic Saturday’ – the last Saturday before Christmas – with 85%, according to the latest Virgin Media O2 Business Movers Index. The index, which is built using aggregated and anonymous data by O2…
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26 October
Vinted considers €200m share sale
Second-hand online marketplace Vinted is considering a secondary share sale of more than €200m (£174m) as it aims to be at the forefront of a sustainable fashion boom, according to the Financial Times. According to the report, Vinted is working with Morgan Stanley to consider options for its capital structure…
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26 October
Inditex signs €70m three-year recycled polyester agreement
Zara owner Inditex has formed a strategic partnership with Ambercycle, a Los Angeles based material science company, to help scale textile to textile recycled polyester. As part of this collaboration, the company has signed a three-year agreement to buy a significant portion of the annual production of Cycora – an…
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26 October
Kering Q3 revenues fall 13% amid cooling luxury demand
Kering Group, the owner of luxury brands Gucci, Yves Saint Laurent and Bottega Veneta, revealed that group revenues were down 13% to €4.5bn (£3.9bn) in Q3. This comes as the group’s revenues from its directly operated retail network fell 6% on a comparable basis, reflecting lower traffic and contrasted performances…
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26 October
Very Group PBT plummets 92% to £4.6m
The Very Group has revealed that its profit before tax has dropped to £4.6m for the 52 weeks ended 1 July 2023, down 92% compared with the £63.9m it posted last year. The company stated that this was down to the heightened cost of funding the company after its finance…
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26 October
Majestic Wine furthers expansion with two new openings
Majestic Wine has furthered its expansion plans after opening two new stores in the same week for the first time in a decade. The wine retailer returned to Chippenham on 24 October, four years after its former store in the town was closed down by previous management. After the group…
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