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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Aug- 2023 -31 August
M&S launches legal challenge against Marble Arch decision
M&S has launched a legal challenge to Michael Gove’s decision to block it from demolishing its flagship store in Marble Arch today (Thursday 31 August). The legal challenge from the high street chain comes after the Housing Secretary ruled last month that the retailer’s demolition plans of the unlisted 1929…
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31 August
Wilko redundancies to begin as rescue talks collapse
Hundreds of redundancies are set to begin at Wilko after last-minute rescue talks with potential buyers fell through, its administrator has confirmed. In a statement released today (31 August), PwC confirmed that 269 support centre employees will now be made redundant, effective from close of business on Monday (4 September),…
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31 August
Asda owners eye £500m property deal
The Issa brothers could reportedly offload a further “chunk” of Asda’s property portfolio to an Australian finance house in a deal estimated to be around £500m. According to React News, Macquarie Asset Management is close to acquiring ground rent leases linked with around 50 Asda stores in the UK. A…
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31 August
Uniqlo owner unveils senior team changes
Fast Retailing, the Japanese multinational retail company behind Uniqlo, has appointed its current executive director and chairman Tadashi Yanai as CEO amid plans to accelerate growth. Under this new role, Yanai will continue to lead the managerial decision-making and business expansion processes as well as continuing to guide the formulation…
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31 August
Former Debenhams staff win legal battle against retailer
More than 400 former Debenhams staff who lost their jobs after the company went into administration have won a legal battle against the business after a tribunal judge ruled that the retailer had failed in its duty to consult with its staff. As a result, lawyers representing the workers said…
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31 August
Lanvin Group sales rise 6.4% in H1
Global luxury fashion brand Lanvin Group has reported a 6.4% increase in revenues to €215m (£182.7m) for H1 2023. It also achieved a gross profit of €125m (£107.1m), up from €113m (£96.85m) the prior year. The fashion retailer said that it was on track to achieve adjusted EBITDA breakeven in…
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31 August
Frasers ups Boohoo stake to 9.1%
Frasers has announced that it has increased its stake in fashion retailer Boohoo to 9.1%. The latest increase takes the Mike Ashley owned company’s stake up from the previous 7.8% it owned. The group had previously stated that Boohoo aligned with its strategy of building “supportive positions in attractive companies”. …
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30 August
Bank holiday boosts footfall by 10.5% on Sunday
Footfall on Sunday (27 August) was +10.5% higher than the week before, rising in all three destination types; by +9% in high streets, by +9.8% in retail parks and by +14.2% in shopping centres thanks to bank holiday Monday. According to the latest data from MRI Springboard, whilst footfall rose…
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30 August
Wilko bidder criticises PwC over bidding process
Restructuring specialist M2 Capital has reportedly criticised the administrators of Wilko after submitting a last-minute offer to rescue the retailer. According to The Financial Times, M2 wrote to PwC chair Bob Moritz earlier this week to criticise the bidding process and question whether it was “fair and transparent” after submitting…
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30 August
M&S to re-enter FTSE 100
M&S is expected to return to the FTSE 100 for the first time in four years following a sustained rise in its shares. It has seen its share price surge by 80% this year and it is now valued at £4.3bn. According to its most recent trading update, its profit-before-tax…
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