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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Jan- 2025 -16 January
UK economy narrowly returns to growth in November
The UK economy narrowly returned to growth in November as real gross domestic product (GDP) increased 0.1%, largely because of a growth in services. The increase comes after two consecutive months of decline, however, real GDP is estimated to have shown no growth in the three months to November 2024,…
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16 January
Pepco plans to get Poundland ‘back on track’ following weak Q1 sales
Poundland owner Pepco has pledged that getting Poundland “back on track” is its key priority after sales at the discount retailer fell over the Q1 period. In the quarter ended 31 December, Poundland saw like-for-like sales fall by 7.3%, largely driven by a “continued underperformance” in clothing and general merchandise, with…
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15 January
Today’s news in brief-15/1/25
Inflation in the UK unexpectedly fell to 2.5% in December, marking its first decline in three months, according to the ONS. The decrease, attributed to reduced hotel and tobacco prices despite rising fuel costs, exceeded expectations, as analysts had predicted inflation would remain steady at 2.6%. While inflation remains above…
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15 January
Liverpool One’s footfall rises 10% in ‘most successful’ shopping season
Liverpool One has reported its “most successful” festive shopping season since 2019, with footfall up 10%. The run of success began with Black Friday week when the destination experienced a 14% growth in footfall and a 28% increase in sales, reflecting the trend of consumers buying in-store and ahead of…
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15 January
Currys raises profit outlook amid ‘strong peak trading’
Currys has revealed that it expects its profit-before-tax to land between £145-155m for the full year, 23-31% ahead of consensus expectations. It comes after the company saw its revenues rise 2% like-for-like in the UK and Ireland in the 10 weeks ended 4 January, what the company refers to as…
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15 January
NI increase will force retailers to raise prices, BRC warns
The British Retail Consortium (BRC) has warned that the National Insurance Increase, set to come into place this April, will force retailers to put up prices after it found that two thirds of CFOs said they will do so in response to the change. The BRC said its survey of…
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15 January
Victorian Plumbing revenues hit £295m in FY24
Victorian Plumbing has reported a 4% revenue growth to £295.7m for the year ended 30 September 2024. The bathroom retailer shared that its order volume increased by 10% to over one million orders for the first time and that its adjusted pre-tax profits grew 14% to £23.1m. However, on a…
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15 January
Inflation unexpectedly falls to 2.5% in December
The rate of Consumer Price Index inflation unexpectedly fell one percentage point to 2.5% in December, dipping for the first time in three months, according to the Office for National Statistics (ONS). It comes as hotel prices fell and tobacco costs eased, which have been credited with helping offset a…
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15 January
Asos to shut US distribution centre to help boost profitability
Asos is set to close its US distribution centre and instead fulfill its US orders from the UK, as part of efforts to boost the group’s profitability in the long-term. The retailer confirmed plans to mothball its Atlanta distribution centre this year and bring the site to market following the completion…
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15 January
The Entertainer appoints new COO
Teal Group, the parent company of the UK’s leading toy retailer, The Entertainer, has announced the appointment of former John Lewis Partnership group supply chain director, Mark Robinson, as its new chief operating officer. He will join the business in March, from his current role as managing director of Wincanton…
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