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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May- 2022 -26 May
Wickes sales dip despite ‘record’ order books
Wickes has revealed that like-for-like sales for the first 20 weeks of the year were down 0.6% against the prior year, with year-to-date trading in line with expectations against “strong” prior year comparatives. Core like-for-like sales were down by 7.2%, though delivered DIFM sales were up by 30.9% over the…
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25 May
Frasers Group sells US retail businesses to GoDigital in £60m deal
Frasers Group has confirmed that it has disposed of its US retail businesses trading as Bob’s Stores and Eastern Mountain Sports for a cash consideration of £59.9m to GoDigital Media Group. The company said that funds will go into the group’s general working capital pool. Retails brands that remain under…
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25 May
Glossier CEO to step down
Glossier has announced that its founder and chief executive officer (CEO), Emily Weiss, will step down as CEO, a role she has held since 2014. Subsequently, Weiss will become an executive chairwoman of the company to focus on supporting the business’ leaders of creative, brand, product and retail. In her…
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25 May
EG Group revenues hit £5bn as foodservice profits surge 54%
The EG Group has reported that its revenues surged 25.1% year-on-year from $5.52bn (£4.4bn) to $6.91bn (£5.5bn) in the three months ending 21 March 2022 (Q1), driven by growth in its foodservice business. Foodservice operations saw a 54% rise in gross profits to $175m (£139.7m), compared to $114m (£91m) in…
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25 May
Marks and Spencer warns of profit squeeze as it exits Russia
Marks and Spencer (M&S) has revealed it expects its profits to flatline in the upcoming financial year as the rising cost of living coupled with increased costs are expected to impact its trading. It comes as it also announced its decision to permanently exit Russia after temporarily suspending trading in…
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25 May
Pets at Home reports record year as profits surge
Pets at Home has reported that its underlying pre-tax profits have surged 65.3% to £144.7m for the year to March 2022. Retail revenue grew by 18.5% after store and online sales rose by 17.7% and 18.4% respectively. The company also reported a total group revenue growth of 15.3% to £1.3bn,…
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24 May
Abercrombie & Fitch lowers forecast amid Q1 loss
Abercrombie and Fitch has lowered its forecast for 2022 with expectations for net sales to be flat to up 2% from $3.7bn (£2.95bn) in 2021, down from previous expectations of up 2%-4%, due to the impact from foreign currency and an assumed inflationary impact on consumer demand. Net sales are…
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24 May
Gymshark founder climbs Sunday Times Rich List as profits hit £45m
Gymshark has reported pre-tax profits of £45.4m in the financial year ended 31 July 2022, with profits in the year increasing year-on-year from £30.4m. The retailer also achieved a 54% surge in sales to £401.9m, compared to £260.7m in 2020. Headed by 29-year old Ben Francis, the e-commerce fashion retailer…
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24 May
H&M unveils new Braehead store
H&M has announced the opening of its new store at Braehead shopping centre, a retail and leisure destination, under the ownership of property company SGS and assets managed by Global Mutual Properties. H&M has relocated from its former unit to a new ground floor space, spanning 17,000 square feet, on…
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24 May
Boohoo agrees settlement for US class action
Boohoo has announced it has agreed a settlement “without admission of liability” in relation to the class action settlement brought forward against it in the US. The claim, brought forward in California, argued that Boohoo had run promotions claiming to give discounts on items that had already had their prices…
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