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 -14 January
Brunello Cucinelli revenues surge to €1.27bn
Brunello Cucinelli has reported a 12.1% rise in FY revenues to €1.27bn (£1.07bn), thanks to “very positive sales” throughout the year. In Q4 itself, the group achieved a turnover of €358m (£301.45m), up 11.6%. Geographically, the Americas saw a 17.8% rise in revenues to €476.5m (£400.8m), an increase of, accounting…
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14 January
Authentic Brands Group names Matt Maddox as president
Authentic Brands Group, a global brand development and licensing platform valued at $20bn (£16.3bn), has announced the appointment of Matt Maddox as president. Authentic said Maddox is a “highly accomplished leader” with more than 20 years of experience in global hospitality and gaming. He most recently served as CEO of…
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14 January
Ocado retail revenues rise 17% amid boost in active customers
Ocado has revealed that its retail revenue rose 17.5% to £715.8m for the 13 weeks ended 1 December 2024. Alongside this, the joint venture between Ocado Group and M&S revealed that its active customers rose 12.1% to 1.12m. Ocado stated that it delivered another record-breaking Christmas, with its highest ever…
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14 January
JD Sports lowers FY guidance after ‘challenging’ winter
JD Sports has lowered its full-year guidance after it struggled with a “challenging and volatile” market over the Christmas period. The group now expects full-year profits to be between £915m and £935m, down from previous expectations of £955m to £1bn. It comes as like-for-like sales in the nine weeks to…
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13 January
Tesco urges gov to deliver plan for UK agriculture
Tesco is calling on the government to provide a clear and comprehensive plan to support UK farmers transition to net zero as it announces new plans to set up two low carbon concept farms in its supply chain to trial low carbon farming methods and help suppliers accelerate innovation. Speaking…
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13 January
Today’s news in brief-13/1/25
Asda announced a significant overhaul of its operations, cutting 13 regional manager roles and consolidating management of supermarkets and express stores into 22 sub-regions from 30. The changes, driven by poor Christmas performance with a 5.8% drop in sales and a decline in market share to 12.5%, mark Allan Leighton’s…
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13 January
Perfume Shop launches new app to boost store experience
The Perfume Shop has implemented the first phase of its new Store+ app initiative designed to enhance the customer’s shopping experience and aims to “make it easier for them when it comes to making an informed perfume purchase”. Store+ has been launched in response to The Perfume Shop’s customer and…
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13 January
Majestic hails successful festive sales performance
Majestic has reported a 1.9% rise in total sales during the six-week period to 30 December 2024, beating its previous record for Christmas sales set a year prior. The wine retailer’s performance was boosted by the opening of seven new stores during 2024 and the “strong” growth of its specialist…
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13 January
Boots sales rise 8.1% in Q1
Boots has delivered a “strong” first quarter with total comparable retail sales up 8.1% YoY for the three months ended 30 November 2024. The UK’s leading health and beauty retailer saw growth across all categories and channels, on top of a “significant increase” in the prior year. Boots’ digital sales…
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13 January
Sainsbury’s boss criticises speed of Labour tax changes
Sainsbury’s CEO, Simon Roberts, has told the Telegraph that the chancellor gave businesses no time to plan for her £25bn tax changes. He said that the decision to increase employer National Insurance from April was “not something anyone expected – certainly, it wasn’t expected at the speed it was coming…
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