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 -11 March
Mango reports highest profit in decade
Mango has closed FY21 with the highest profits in almost a decade, with a net profit of €67m (£56m), triple the €21m (£18m) reported pre-pandemic in 2019. The fashion retailer said its latest results “brings an end to the disruption of 2020”, as the group returned to profit and welcomed…
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10 March
Steve Rowe to step down as M&S CEO
Marks and Spencer (M&S) has revealed that Steve Rowe will stand down as chief executive officer (CEO) as part of a planned succession programme after six years in the role, effective 25 May. Rowe will also cease full-time employment with the business on 5 July, although he has agreed to…
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10 March
Faith in Nature secures £2.5m loan to expand manufacturing premises
Faith in Nature, the natural beauty products brand from Radcliffe, Manchester has announced it has secured a £2.5m loan in order to help expand the business. The loan will enable the company to develop new manufacturing and business premises, having outgrown its existing premises. The development of the new site…
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10 March
Pandora expands US footprint with the acquisition of 37 stores
Pandora has announced its continued US growth strategy with 37 locations acquired from Ben Bridge Jeweller. Ben Bridge Jeweller was Pandora’s largest franchisee in North America. The acquisition increases Pandora’s owned-store footprint, largely on the US West Coast, and provides a more “cohesive” presence and direct omni-channel experience in North…
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10 March
February shows signs of return to normal online spending patterns
Despite February’s year-on-year (YoY) online retail growth dropping even lower than the previous month’s record, there were signs of a return to normal spending patterns within the broader set of results, according to the IMRG Capgemini Online Retail Index. While February’s dip to -27% means it replaces January 2022 (-24.4%)…
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10 March
John Lewis reinstates £46m staff bonus amid record sales
The John Lewis Partnership has said its staff will be able to share from a £46m bonus pot after reporting a profit before bonus, tax and exceptional items of £181m, 38% higher than 2020/21 and 159% higher than two years ago. When including exceptional items and the £46m bonus, its…
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10 March
Boohoo eyes FY22 profits of £125m as sales surge 14%
Boohoo group plc has revealed it expects adjusted EBITDA for the 12 months ending 28 February 2022 (FY22) to reach approximately £125m, subject to audit, which is in line with prior guidance issued in December and market expectations. The announcement comes as Boohoo reported sales growth of 14% in FY22,…
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9 March
Lululemon unveils first-ever footwear collection
Lululemon athletica inc. has announced its debut into the footwear industry with its first shoe collection set to debut in March. The collection is made for women and will be available online and in select stores across North America, Mainland China and the United Kingdom, with the Blissfeel shoes debuting…
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9 March
A reshaping of town centres
“The last two years have been tumultuous for retailers but the closures we’ve seen are an acceleration of what was happening before the pandemic,” says Lisa Hooker, consumer markets lead at PwC. The accounting firm recently published a report monitoring the openings and closures of large-chain highstreet operators. It concludes…
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9 March
Next to open new department style store at Old Trafford Centre
UK fashion and home retailer Next has signed a new 10-year lease with Trafford Centre to create a large, new department style store, expected to open in November 2022. The new store will “significantly” upsize the brand’s presence in the centre, bringing its fashion, beauty and home offering together in…
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