News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Mar- 2025 -25 March
Today’s news in brief-25/3/25
WH Smith has successfully completed a refinancing deal, securing a £200m US Private Placement and a new £120m bank term loan. The move diversifies its debt financing ahead of a potential sale of its high street business, which includes over 500 stores. Two firms, Alteri Investors and Modello Capital, remain…
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25 March
Co-op launches Aldi price match pledge on over 100 products
Co-op has announced it is launching its biggest ever value campaign tomorrow (26 March), matching Aldi prices on over 100 everyday essentials including fresh fruit, milk, eggs and bread. The move, which Co-op said is the largest of its kind in convenience stores and a UK first for quick-comm platforms,…
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25 March
AO raises full-year profit guidance amid LFL sales surge
AO has revealed that its adjusted profit-before-tax has grown in the region of 30%, and is expected to be around the top end of its previously upgraded guidance range of £39m to £44m for the year ended 31 March 2025. Alongside this, its B2C retail revenues are expected to increase…
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25 March
Kingfisher profits fall 7% to £528m in FY24
Kingfisher has reported a 7% dip in profits to £528m, including £33m of one-off business rates refunds at B&Q, during the year ended 31 January 2025. The home improvement retailer, which owns B&Q and Screwfix, has seen its total sales decrease 0.8% to £12.7bn. Operating profit for the group also…
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25 March
Morrisons to close 52 cafés and 17 convenience stores
Morrisons has announced it is set to close 52 cafés, all 18 market kitchens, 17 convenience stores, 13 florists, 35 meat counters, 35 fish counters and four pharmacies, in a bid to optimise its operations and to help mitigate recent significant cost increases. The supermarket said a wide-ranging review identified…
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25 March
THG successfully raises £90m with help from founder
THG has successfully fundraised £90m with the support from new investors and existing shareholders, including a £60m contribution from founder and chief executive Matthew Moulding. The equity contribution was made up of £30m of new ordinary shares, and Moulding’s £55m convertible loan and £5m of partly paid shares. The firm…
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25 March
WH Smith completes refinancing amid plans to sell high street arm
WH Smith has successfully completed a refinancing, which includes its first US Private Placement (USPP) as well as a new bank term loan of £120m, ahead of the group’s potential sale of its high street arm. The £200m USPP notes have a maturity of seven, 10 and 12 years and…
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24 March
Today’s news in brief-24/3/25
Harrods is nearing the finalisation of compensation payments for victims of sexual abuse by its former owner, Mohamed al Fayed, who died in 2023. According to draft terms seen by Sky News, some claimants could receive over £300k, depending on whether they opt for a psychiatric assessment. Those choosing the…
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24 March
The Range opens new superstore concept in Ruislip
UK home, leisure and garden retailer, The Range, has opened a new superstore in Ruislip featuring its first ‘Kitchens by Homebase’ concept. The ‘Kitchens by Homebase’ is the latest addition to be introduced to The Range superstores allowing customers to find their “dream kitchen”, with design specialists on hand to…
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24 March
Harrods close to finalising compensation for al Fayed victims
Harrods’ lawyers at MPL Legal are reportedly close to finalising compensation payments, that are potentially worth more than £300k, to settle sexual abuse claims brought against former owner Mohamed al Fayed, according to Sky News. Following his death in 2023, al Fayed’s abuse of hundreds of young female workers at…
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