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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Feb- 2025 -25 February
Just Eat acquired by Prosus for €4.1bn
Global technology company Prosus has announced it has reached a conditional agreement to acquire Just Eat Takeaway for €4.1bn (£3.4bn) to create the fourth largest food delivery group globally. Prosus acquires Just Eat’s entire issued share capital for €20.30 (£16.8) per share via a recommended all-cash public offer on the…
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25 February
Bill with stricter measures for retail crime to go before parliament
A new bill that aims to tackle retail and street crime is set for its first reading in the House of Commons today (25 February), with the hopes of introducing tougher measures to tackle retail crime and other offences. Home Secretary Yvette Cooper said the Crime and Policing bill, which is…
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25 February
Convenience stores more effective for brand-building, Co-op study finds
Convenience retail media is reportedly able to “super charge” brand recall four times more than campaigns in larger stores, due to shopper frequency and the “uniqueness” of a convenience store’s format, according to a study released by Co-op Media Network (CMN). In partnership with Lumen Research, CMN has evidenced the…
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24 February
Today’s news in brief-24/2/25
Shein, the global online fashion retailer, saw its profits plummet by 40% to $1bn in 2024. The company faced a challenging final quarter and intensified competition from rival Temu. Shein’s declining profitability complicates its efforts to secure regulatory approval for a London listing, with some investors urging a valuation reduction…
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24 February
Bershka and Pull&Bear to open at Glasgow’s Silverburn
Bershka and Pull&Bear have selected retail and leisure destination Silverburn to open their first Glasgow stores. Bershka will take the current Zara space, which will open a much larger store in the former Debenhams unit, as announced last year. Pull&Bear is taking the former Topshop store, between Mango and River…
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24 February
Eldon Square appoints new centre director
Eldon Square, the shopping and leisure destination in Newcastle, has appointed Helen Cowie as centre director. As the investment programme in Eldon Square continues with several arrivals set to open this year including Next, River Island, Flight Club and Freight Island, it said Cowie will bring over 30 years of…
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24 February
Shein profits falter ahead of planned London IPO
Shein’s profits reportedly dropped by 40% to $1bn (£791m) in 2024 as the online retailer suffered a difficult final quarter and battled competition from rival Temu, According to the Financial Times According to two people who spoke to the paper, sales for the full year increased by 19% to $38bn…
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24 February
Mango Home to open first standalone store
Mango Home has announced the opening of its first stand-alone store, located at 586 Avenida Diagonal in Barcelona. With a selling space of nearly 400 m², the new space will open its doors in early April. The arrival of this store marks a milestone in the growth strategy of Mango…
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24 February
B&M CEO to retire as group lowers FY guidance
B&M has revealed that chief executive Alex Russo will retire on 30 April, as the group announced it has lowered its profit guidance for FY25 once again to a range of £605m to £625m. The group said the lowered guidance reflects the “current trading performance of the business, an uncertain…
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24 February
Asda avoids penalty amid missed deadline for IT upgrade
Asda has reportedly avoided a financial penalty after its former owner Walmart agreed to move back a deadline for the supermarket to hit its £800m IT upgrade.According to The Telegraph, the supermarket missed the initial deadline for a tech overhaul that aims to separate its computer systems from those of…
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