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 -21 February
UK retail sales rise by 1.7% in January
UK retail sales volumes increased by 1.7% in January driven largely by food sales, the ONS has revealed. According to the new figures, sales volumes fell by 0.6% in the three months to January 2025, compared with the three months to October 2024, but rose by 1.4%, compared with the…
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21 February
Aldi to invest £67m in existing stores in 2025
Aldi has announced it is set to invest £67m in upgrading its existing stores in 2025. The UK’s fourth largest supermarket has spent almost £600m on store upgrades since 2017, and with the first phase of these updates nearly complete, Aldi is moving on to the next stage of its…
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21 February
Frasers Group withdraws offer for Norway’s XXL ASA
Frasers Group has announced that it will not proceed with its intended voluntary offer for the shares in Norwegian sporting goods retailer XXL ASA at NOK 10 per share, which valued the company’s fully diluted share capital at NOK 246,357,450 (£17.45m). News comes after Frasers initially revealed its voluntary offer…
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21 February
Birkenstock revenues surge 19% in Q1 FY25
Birkestock has reported a 19% surge in revenues to €362m (£299m) for the first quarter ended 31 December 2024. The group’s adjusted EBITDA also increased 25% to €102m (£84m), while net profit hit €20m (£16m), up from a net loss of €7m (£5.79m) the previous year. The group attributed this…
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20 February
Today’s news in brief-20/2/25
Fashion retailer Quiz has appointed administrators to its subsidiary Zandra Retail, resulting in the closure of 23 loss-making stores and the loss of around 200 jobs. Advisory firm Teneo will oversee the administration process, while Orion Retail Limited, owned by Quiz’s founding family, will acquire certain assets, including 42 stores,…
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20 February
Dolce and Gabbana opens new store in Covent Garden
Italian luxury and lifestyle brand Dolce and Gabbana has opened a first-of-its-kind combined beauty and accessories store in Covent Garden. Situated in the historic Market Building, the opening marks Dolce and Gabbana’s return to Covent Garden following the success of its Christmas pop-up on the Piazza in 2022. Fitted out…
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20 February
Asda narrows median gender pay gap to 4% in 2024
Asda has reduced its median pay gap between all male and female colleagues from 5% in 2023 to 4% in 2024, according to its newly published 2024 Gender Pay figures. It also revealed that 92% of Asda’s total UK workforce consists of hourly-paid retail store colleagues, all earning the same…
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20 February
Tapestry agrees to sell Stuart Weitzman brand for $105m
Luxury retail group Tapestry has entered into a definitive agreement to sell the Stuart Weitzman brand to Caleres, a portfolio of footwear brands, for $105m (£83.2m) in cash. News comes as the group is looking to focus more on its other brands, Coach and Kate Spade. The transaction is expected…
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20 February
Very Group HY profits rebound despite sales drop
The Very Group has returned to profitability posting a pre-tax profit of £6.1m for the 26 weeks ended 28 December 2024, despite a drop in sales. The company’s revenues saw a 4.5% decrease to £1.17bn during the period, with revenue for the Very UK brand down 3% to £1.02bn. Very…
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20 February
UK consumer confidence drops to new low in February
UK consumer confidence slipped to a new low of -37 in February, amid the worsening state of the economy. According to the latest BRC-Opinium Consumer Sentiment Monitor, the economy worsened for the fifth consecutive month, down from -34 in January. The BRC reported that even Gen Z, despite being the…
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