Board
This coverage highlights board-level developments shaping the UK retail industry, from executive appointments and leadership reshuffles to governance strategy and corporate direction. Retail Sector reports on boardroom changes across major retail brands, supermarkets, and e-commerce operators, analysing how leadership decisions influence company performance, culture, and market positioning. Coverage includes director appointments, succession planning, governance best practices, and strategic decision-making at the highest levels. For retail professionals, these insights illuminate how leadership dynamics drive operational change, investor confidence, and long-term growth across the sector.
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Sep- 2024 -6 SeptemberElectrical
Gear4music on track for FY25 revenues of £154.7m
Gear4music expects that revenues for the year ending 31 March 2025 will be on track to hit a total of £154.7m, with EBITDA of £11.7m and profit before tax of £2.8m. The musical instruments and music equipment retailer will be holding its Annual General Meeting today (6 September) at 10.30am. …
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5 SeptemberClothing & Shoes
Asos offloads Topshop and Topman ownership amid refinancing
Asos has offloaded ownership of the Topshop and Topman brands amid a refinancing of the business, after forming a joint venture with investment company Heartland. Following the move, Heartland will acquire a 75% stake in the brands for a total of £135m, and the remaining 25% stake will be owned by…
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4 SeptemberNews
Today’s news in brief-4/9/24
John Lewis Partnership has submitted an £80m proposal to transform a disused warehouse in Reading into 215 energy-efficient rental homes. The planning application, now with Reading Borough Council, envisions a mix of one, two, and three-bedroom units featuring amenities for fitness, home-working, and socialising, alongside community spaces and public green…
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4 SeptemberPeople Moves
The Very Group appoints former Asos exec as NED
The Very Group has announced the appointment of Nick Beighton and Paul O’Donnell to the company’s board as non-executive directors. It comes as non-executive director Mark McMenemy has retired from the board, having rejoined the company in 2019 after giving up executive roles to accommodate non-executive and consulting positions. McMenemy…
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3 SeptemberNews
Ultimate Products appoints two non-exec directors
Ultimate Products, the owner of a number of leading homeware brands including Salter and Beldray, has announced the appointment of Andrew Milne and José Carlos González-Hurtado as two new non-executive directors. The retailer has also announced that Jill Easterbrook has notified the board of her intention to step down as…
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Aug- 2024 -30 AugustClothing & Shoes
Birkenstock misses Q3 profit estimates
Birkenstock has missed its quarterly profit estimates as its gross profit margin dropped 220 basis points to 59.5% during the third quarter which ended 30 June. The group reached an adjusted EBITDA of €186m (£156m), up 15% year-over-year. However, adjusted EBITDA margin was 33%, down 140 basis points from 34.4%…
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28 AugustClothing & Shoes
Frasers to grow presence in Australia with latest investment
Frasers Group has announced the purchase of a 14.65% strategic investment in Accent Group Limited, a retail and distribution business in the performance and lifestyle market in Australia and New Zealand. The news comes as Frasers aims to grow its presence in Australia and New Zealand through partnerships to help…
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21 AugustClothing & Shoes
Asos shareholders approve new pay plan for execs
Asos shareholders have approved a new pay plan for executives with the group’s new Value Creation Plan (VCP). According to the company, the scheme aims to further align executive directors and the senior leadership team with its “ambitious growth plans”. Around 91.82% of shareholders voted in favour to amend the…
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20 AugustHealth & Beauty
Estée Lauder sales fall in ‘difficult year’ as CEO departs
Estée Lauder has seen sales dip by 2% to $15.6bn (£12bn) in its full-year results, in part due to an “ongoing softness” in the China market, whilst also forecasting a fall in sales for the current fiscal year. While the group forecast lower than expected sales and earnings in FY25, it…
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15 AugustPeople Moves
Victoria’s Secret appoints Hillary Super as new CEO
Victoria’s Secret has appointed Hiillary Super as its new chief executive officer and a member of the board, effective 9 September 2024. Super succeeds Martin Waters in both roles. Timothy (TJ) Johnson, VS&Co’s chief financial and administrative officer, will serve as interim CEO effective today through 8 September 2024. Meanwhile,…
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