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 -6 February
Metrocentre sees 9.2% footfall increase in 2024
Metrocentre has announced a “record-breaking” year as it saw a 9.2% year-on-year footfall increase in 2024. During the year, the destination welcomed 15.8 million visitors, a 10% increase on 2023. Sales performance also surpassed the previous year by 5.3%, with F&B, sports fashion, and health and beauty experiencing the biggest…
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6 February
BoE cuts interest rates to 4.5%
The Bank of England (BoE) has voted to cut interest rates from 4.75% to 4.5%, the lowest level since June 2023, but warned that GDP growth has been “weaker than expected”. At its meeting this week, the bank’s monetary policy committee voted by a majority of 7–2 to reduce the…
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6 February
EU Commission launches probe into Shein amid import crackdown
The European Commission has launched a probe into Shein as part of a crackdown against a flood of cheap e-commerce imports into the European Union. This follows last year’s influx of approximately 4.6 billion low-value consignments, i.e. goods valued at no more than €150 (£126), entering the EU market, amounting…
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6 February
Pandora profits up 13% as it prioritises jewellery
Pandora has seen its EBIT rise 13% to £890m in its FY24 as a result of its ‘Phoenix strategy’ pushing it towards becoming a “full jewellery brand”. Alongside this, the company’s sales increased 13% to £3.53bn for the period, driven by strong online growth accounting for 27% of revenues and…
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6 February
Tesco mulls takeover of Crown Post Office branches
Tesco is reportedly eyeing a potential takeover of more than 100 Crown Post Office branches across the UK, in a move that could save the branches from potential closure. It comes as the directly managed branches have come under review amid reports the state-owned company is looking to shift to a…
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6 February
Asda recruits former Matalan CEO as non-exec director
Asda has announced the appointment of Jo Whitfield, the former CEO of Matalan, to the role of non-executive director. Until last year, she led Matalan’s business turnaround strategy and a refocus on value. Whitfield, who has previously spent eight years with Asda and its clothing brand George from 2008, had…
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6 February
M&S backs Starmer’s bid for closer EU relations
M&S has backed Keir Starmer’s call for closer ties with the EU and an end to “Brexit bureaucracy”, The Telegraph has reported. Speaking to the paper, M&S head of food Alex Freudmann urged the prime minister to “move with pace to remove the red tape governing trade across the Irish…
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5 February
Today’s news in brief-5/2/25
A Welsh fashion designer has taken Boohoo, and its affiliated brands PrettyLittleThing, Nasty Gal Limited, Misspap, and Debenhams, accusing it of copying her signature designs. Sonia Edwards claims that her designs, including a halter-neck bikini top, a rib organza mesh puff-sleeve top, a velvet ruched midi-skirt, a twist-front skirt, and…
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5 February
Estée Lauder to axe up to 7,000 roles amid restructuring plan
Estée Lauder has revealed its plans to cut up to 7,000 roles globally as part of its latest cost-cutting plan, as the cosmetics retailer braces for tariff increases sparked by US President Donald Trump. It comes as net sales fell by 6% to $4bn (£3.2bn) during the second quarter ended…
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5 February
Amazon reports fastest ever Prime delivery times in 2024
Amazon achieved its fastest delivery speeds ever for Prime members globally in 2024, and delivered more than nine billion items the same or next day. The retail giant said that it is delivering more “everyday essentials”, household and pantry items across health, beauty, baby, pet food and other categories. It…
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