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 -25 October
Today’s news in brief-25/10/23
Asos has pushed back the release of its FY23 results to 1 November 2023, citing the need for its auditor, PwC, to complete planned testing. PwC has assured that the outstanding procedures are of limited scope. Asos confirmed its performance up to 3 September 2023 aligns with the post-close trading…
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25 October
One in three adults used BNPL services last year, Clearpay finds
Some 30% of British adults have used a Buy Now Pay Later (BNPL) service to make at least one payment over the last year as of August 2023, according to research by Clearpay. According to findings, BNPL was most popular among Millenials and Gen X, at 41% and 36% respectively. …
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25 October
Frasers Group ups Boohoo stake to 16.5%
Mike Ashley’s Frasers Group has once again increased its stake in online retailer Boohoo and now holds a 16.5% share in the business. It has upped its stake from 15.1% and now holds a total number of voting rights of 209,319,058. Frasers first purchased a 5% stake in the online…
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25 October
Poundland to open 75 stores by end of December
Poundland has announced its plans to open or relocate 75 stores over the three months to the end of December. The programme covers both its existing pipeline of new stores, and the former Wilko stores it has already opened, or plans to open, as new Poundland stores. This month the…
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25 October
ScS sales dip 0.4% below FY22 levels
ScS revealed that its sales were only 0.4% below the prior year for the 52 weeks ended 29 July, ending FY23 with a cash balance of £69.5m compared with £70.8m last year. The group also reported that gross margins were 1% lower than the prior year at 44.4% due to…
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25 October
Asos delays FY23 full-year results
Asos has announced that it is due to delay the publishing of its FY23 results by one week to 1 November 2023. The company stated that the delay is to allow its auditor, PwC, to complete its planned testing. PwC has assured the Asos board that the outstanding procedures are…
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25 October
Virgin Wines sales fall by £10m in FY23
Virgin Wines has seen revenues fall to £59m in FY23, down from £69.2m, as the group battled with economic headwinds and the launch of a new Warehouse Management System over the period. As well as a fall in sales, profit before tax fell to £0.6m, down from £6.2m, while adjusted…
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24 October
Today’s news in brief-24/10/23
Furniture retailer ScS has agreed to be acquired by Italian brand Poltronesofà in a £99.4m deal. This acquisition, representing a premium of 66% to the closing price per ScS share in October, has been recommended to shareholders and is expected to be completed in early 2024. Poltronesofà views this as…
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24 October
Retailers raise over £500m for good causes throughout the year, BRC finds
A new report by the British Retail Consortium (BRC) has found that retailers and their customers raised £540m for good causes in the last financial year. The report – Supporting Charities, Communities and Customers – provides an analysis of UK retailers’ charitable giving for the first time. It also finds…
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24 October
ScS to be acquired by Italian firm Poltronesofà in £99.4m deal
Furniture retailer ScS has revealed it has agreed to be acquired by Italian brand Poltronesofà in a £99.4m deal. SCS’s board said the deal, which represents a premium of 66 per cent. to the Closing Price per ScS Share of 169 pence on 23 October 2023, has been recommended to…
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