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 -24 March
In The Style owed more than £20m before rescue deal
In The Style had over £20m in debt when it was rescued following its collapse into administration, according to a new document filed at Companies House. The Manchester-based fashion brand was recently rescued by Alps Sourcing Limited, saving 87 jobs at the company. The brand was originally founded in 2013…
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24 March
Frasers ups Asos stake amid takeover rumours
Frasers has raised its shareholding in online fashion retailer Asos to 25.13%, up from 24.21%, making it the second largest shareholder in the company. The move comes after Asos’ largest shareholder, Danish billionaire Anders Holch Povlsen’s company Bestseller, increased its stake to 28% fuelling talk of a private takeover of…
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24 March
Ocado scales back diversity targets amid DEI crackdown
Ocado has scaled back its diversity targets following a wider rollback of diversity initiatives in the corporate world, The Telegraph has reported. The company’s goal of having 10% of senior management roles be held by people from ethnic minorities has been pushed back to 2030, behind its previous target of…
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24 March
Asda announces price cuts of up to 45% on 1500 products
Asda has announced it is cutting prices on 1,500 “family favourite” products by up to 45% both in store and online. This latest wave of Rollback price cuts means nearly 10,000 products—almost a third of Asda’s entire range—have been reduced in price since Asda brought back its price cut proposition…
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21 March
Today’s news in brief-21/3/25
In The Style has been rescued from administration through a pre-pack sale to Alps Sourcing Limited, saving 87 jobs. The Manchester-based company, known for its celebrity-inspired high street fashion, had reached a peak valuation of £105m in 2021 following its AIM listing. However, financial struggles, including significant debt and cash…
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21 March
London’s store closures return to pre-pandemic levels for first time
Five stores closed each day in Greater London in 2024, with four new stores opening, according to the latest data from PwC – resulting in net closures of one store per day. The bi-annual report using data from Green Street, tracks over 200,000 chain outlets in over 3,500 locations to…
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21 March
Westfield London to launch new health and wellness zone
Unibail-Rodamco-Westfield (URW) has announced the launch of a health and wellness zone at The Village at Westfield London, featuring a range of health and wellness brands and services. The new wellness zone, situated on Level 1 of The Village, offers over 50,000 sq. ft. of premium space, catering to meet…
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21 March
Asos ups profit outlook amid strong margin gains
Asos has raised its profit outlook for the first half of the year despite its ongoing struggles with volume deleverage. The company stated that it expects a “significant” increase in profitability after it saw strong gross margin growth driven by lower markdown activity, an increased full-price mix, and continued cost…
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21 March
Nike revenues drop 9% to $11.3bn in Q3
Nike has reported a 9% revenues drop to $11.3bn (£9.1bn) during the third quarter ended 28 February. Brand revenues were $10.9bn (£8.4bn), down 9% on a reported basis and down 6% on a currency-neutral basis, driven by declines across all geographies. Meanwhile, direct revenues dropped 12% to $4.7bn (£3.8bn) on…
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21 March
In The Style rescued from administration with Alps Sourcing deal
Online fashion retailer In The Style has been sold out of administration to Alps Sourcing Limited, saving 87 jobs in the UK. The pre-pack sale of the company was negotiated by Marco Piacquadio and Alan Coleman from FTS Recovery Limited, who were appointed as joint administrators on Monday 10 March. …
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