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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Mar- 2022 -18 March
UK vacancy rates decrease for the first time since 2018
In H2 2021, the national vacancy rate declined by 0.1% from H1 2021, landing at 14.4% – the first decline in the UK vacancy rate since 2018, according to analysis by the Local Data Company (LDC). It revealed Britain’s retail and leisure sector is “stabilising” following the Covid-19 pandemic. The…
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17 March
Abercrombie & Fitch unveils new activewear sub-brand YPB
Abercrombie and Fitch, a division of Abercrombie and Fitch Co., has announced the launch of a new activewear sub-brand called YPB. YPB stands for “Your Personal Best” and reportedly aims to empower customers to perform to their highest potential. The sub-brand features a collection of “fashion-forward yet functional” activewear and…
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17 March
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate the effect of the rising costs of living and the impact that the conflict in Ukraine is having on the global economy. The Monetary Policy Committee (MPC) voted with a…
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17 March
Deliveroo losses widen to £298m despite surging revenues
Deliveroo has announced a loss before income tax of £298m in comparison to £213m in 2020 during its FY21. According to the company this was due to increased marketing and staff costs as well as a reduction in relief grants introduced in 2020 as a consequence of the impact of…
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17 March
Prada FY21 revenues spike 41% to €3.36bn
Prada S.p.A has reported its revenues increased 41% year-on-year to €3.36bn (£2.82bn) in the full year ending 31 December 2021, also up 8% from pre-Covid levels. The group’s net income hit €294m (£246.4m) and EBIT grew to €489m (£409.83m). Prada also revealed its online sales surged 61% year-on-year, five times…
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17 March
Brunello Cucinelli acquires 43% stake in Lanificio Cariaggi
Luxury fashion retailer Brunello Cucinelli has announced that it has acquired from the Cariaggi family a 43% stake in the share capital of Cariaggi Lanificio S.p.A, the cashmere manufacturer. The purchase price of the shareholding was €15.05m (£12.62m), a value that is proportionally close to the current net worth of…
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17 March
Retail insolvencies surge 21% amid supply chain issues
Data recently released by the Insolvency Service has shown that insolvencies amongst retailers businesses have surged in the past year as the UK’s supply chain problems continue to worsen. In the past 12 months, insolvencies of UK retailers have risen 21% from 827 in 2020/21 to 997 in 2021/22. Problems…
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16 March
Currys boosts hourly base rate for colleagues
Currys plc has today announced a 5.2% increase to the minimum pay rate of its hourly paid colleagues in the UK to £10 per hour, and £11.05 per hour in London, effective from 1 August 2022. This will result in an hourly rate increase for approximately 10,000 colleagues and any…
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16 March
Vestiaire Collective acquires US reseller Tradesy
Vestiaire Collective, the global online marketplace for “pre-loved fashion” has announced the acquisition of Tradesy, the US fashion reseller for an undisclosed sum. Vestiaire Collective and Tradesy were both founded in 2009 by female entrepreneurs committed to “transforming the fashion industry towards a more sustainable future” and the firms said…
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16 March
Inditex FY21 profits surge 199% despite Omicron impact
Inditex, the parent company of Zara, has reported its income before tax surged 199% to €4.19bn (£3.53bn) between 1 February 2021 and 31 January 2022 (FY21), rising year-on-year from €1.4bn (£1.17bn). Net income also surged 193% to €3.2bn (£2.73bn) compared to €1.1bn (£9.29m) in FY20. Additionally, sales increased 36% year-on-year…
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