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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Dec- 2024 -23 December
Quiz proposes stock market exit amid financial difficulties
Quiz has proposed plans to cancel its listing on the Alternative Investment Market (AIM) and re-register as a private company as a result of financial difficulties. The retailer is seeking investor approval for the move at its next general meeting scheduled for 8 January 2025. The vote will need a…
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23 December
BRC warns of ‘spending squeeze’ in January
The British Retail Consortium has warned of a January spending squeeze, as BRC-Opinium data between 10 and 13 December showed that people’s spending intentions dropped 6pts. It comes as public confidence in the state of the economy “took a nosedive”, falling 8pts to -27, creating a widening gap between expectations…
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23 December
UK retail spending rises 2.3% ahead of Christmas, Visa finds
UK retail spending over the holiday period has increased 2.3% year-on-year, according to Visa’s first-ever Retail Spend Monitor, which analysed spending over the seven-week period beginning 1 November, 2024. The VCA Retail Spend Monitor reports on national retail sales across all payment types. The findings are based on aggregate sales…
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23 December
Boohoo offloads head office for £49.5m
Boohoo has completed the sale of its London office for a total of £49.5m. Located on Great Pulteney Street, Soho, the site was sold to Global Holdings UK Limited, an independent property fund. Boohoo said the move would help to “further strengthen the company’s balance sheet”. Part of the proceeds will…
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23 December
UK economy heading for ‘worst of all worlds’, CBI warns
The Confederation of British Industry (CBI) has warned that the UK economy is headed for “the worst of all worlds” as business activity is set to decline at the start of the new year. Private sector firms expect activity to fall in the three months to March (weighted balance of…
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20 December
Today’s news in brief-20/12/24
Retail sales in the UK edged up by 0.2% in November, falling short of analysts’ 0.5% forecast. The slight increase followed a 0.7% decline in October, with food sales rising for the first time in three months, up 0.5%, while non-food revenues rose by 0.2%. However, clothing sales fell sharply…
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20 December
Abaci selects London Designer Outlet for first UK store
Turkish womenswear retailer Abaci has chosen London Designer Outlet (LDO) for its first physical UK store after agreeing a 2-year lease to occupy a 1,418 sq ft unit. Abaci, which specialises in modest fashion, was founded in 1981 in Turkey and has since been a leader in the women’s apparel…
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20 December
Network Rail retail sales rise 10% to £233m in Q2
Network Rail saw its total retail sales rise 10% to £233.7m for the second quarter from July to September, spelling an increase of over £21m on the same period last year. Additionally, retail sales overtook the previous quarter, jumping by over £8m. Network Rail’s annual retail sales for 2023/24 surpassed…
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20 December
Retail sales fall short of expectations in November
Retail sales in the UK rose 0.2% in November, behind analysts expectations of 0.5%, according to data from the Office for National Statistics. However, this slight increase is an improvement on the 0.7% decline seen in October. ONS stated growth in supermarkets and other non-food stores was partly offset by…
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20 December
FCA approves N Brown’s £191m takeover
N Brown’s board of directors has confirmed that the FCA has given the go ahead for a £191m takeover deal that will see Joshua Alliance acquire the brand. As previously announced on 17 October, Alliance will pay 40p in cash for each N Brown share. The company already owns 6.6%…
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