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 -5 March
B&Q increases hourly pay to £12.71
B&Q has announced that it will be increasing its UK minimum hourly rate to £12.71 per hour, and its London rate to up to £14.05 per hour. The increase will be paid in full from 1st April and not staggered across the year meaning that from April 2025, over 15,000…
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5 March
Virgin Wines CFO retires after 22 years
Virgin Wines has announced that Graeme Weir is retiring from his role as chief financial officer and company secretary after 22 years. During his time at the company, Weird played a “huge” role in the growth of the business alongside CEO Jay Wright, including leading a private equity-backed buyout in…
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4 March
Today’s news in brief-4/3/25
The Competition and Markets Authority (CMA) is close to approving Topps Tiles’ £9m acquisition of CTD Tiles after both companies offered to divest stores in Aberdeen, Inverness, Edinburgh, and Dorking to address competition concerns. The CMA had initially warned that the merger could reduce market competition, prompting an in-depth investigation.…
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4 March
Castore signs multi-year partnership with Lancashire Cricket Club
Sportswear brand Castore has announced it has agreed a multi-year partnership with Lancashire Cricket Club. Under the terms of the new deal, Castore will become the official kit supplier and exclusive retail partner to Lancashire CC, with the kit featuring the Lancashire red rose being worn by the Club from…
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4 March
Shop price inflation remains at 0.7% despite surge in food prices
Shop price inflation remained in deflation at 0.7% in February, after also falling to -0.7% in January, according to data from the British Retail Consortium. However, this comes despite food inflation increasing to 2.1% year on year in February, an increase from the 1.6% rise in January and above the…
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4 March
Prada nears €1.5bn Versace takeover deal
Prada is reportedly edging closer to acquiring Versace for €1.5bn (£1.2bn), the FT has reported. According to sources briefed on the discussions, after months of talking between Prada and Capri, which owns brands including Michael Kors and Jimmy Choo, an agreement could come “within weeks”. The talks have been prolonged…
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4 March
Greggs sales surge to £2.01bn in FY24
Greggs has surpassed the £2bn mark as its sales increased 11.3% to £2.014bn, with LFL sales in company-managed shops up 5.5% year-on-year, in the 52 weeks ended 28 December 2024. The group’s underlying pre-tax profit also increased 13.2% to £189.8m, while its total pre-tax profit was up 8.3% to £203.9m.…
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4 March
Supermarket sales rise 3.6% in February
Take-home sales at the grocers rose by 3.6% over the four weeks to 23 February compared with one year ago, according to the latest data from Kantar. It also found that retailer promotions helped to hold grocery price inflation steady at 3.3% in February 2025, as spending on deals rose…
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4 March
CMA nears approval for Topps Tiles’ acquisition of CTD Tiles
The Competition and Markets Authority (CMA) has confirmed it is nearing a green light for Topps Tiles’ £9m acquisition of CTD Tiles. Following an investigation amid competition concerns, the CMA said both groups had offered to divest tile stores in Aberdeen, Inverness, Edinburgh and Dorking. In light of this it…
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4 March
Oak Furnitureland losses narrow by 19% to £12.4m in FY24
Oak Furnitureland has narrowed its losses by 19% to £12.4m, down from a previous loss of £15.4m, in the year ended 30 June 2024, despite group revenues falling by 17% to £236m due to a soft market and Red Sea disruptions. The group attributed its narrowed losses to its “diverse”…
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