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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Mar- 2024 -13 MarchClothing & Shoes
Zara owner profits surge by 28% in FY23
Zara owner Inditex has welcomed a “very robust” FY23 performance, as profit-before-tax surged 28.2% to €6.9bn (£5.9bn) while sales rose by 10.4% to €35.9bn (£30.7bn).Gross profits rose by 11.9% to €20.8bn (£17.8bn), and EBITDA increased 13.9% to €9.9bn (£8.5bn) as the group reported strong results both in stores and online. …
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12 MarchClothing & Shoes
Hype co-founders resign
Leicester-based streetwear brand Hype has announced the departure of co-founders Liam Green and Bav Samani less than a year after its pre-pack rescue. Hype entered into administration on 31 March 2023 due to falling sales and tackling excess stock post-Covid. Carl Jackson and Kelly Mitchell of Quantuma Advisory were appointed…
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11 MarchNews
Today’s news in brief-11/3/24
Doug Putman, the owner of HMV, is reportedly contemplating a bid to acquire The Body Shop from its administrators. The Body Shop has encountered financial difficulties, including filing for bankruptcy in the US and Canada. This move follows the closure of numerous stores and job losses. Private equity firm Aurelius…
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11 MarchElectrical
Elliott ditches Currys takeover plans
Elliott Management has abandoned plans to buy Currys after claiming that “multiple” attempts to engage with the company’s board were “rejected”. The US investment group initially offered to buy Currys for 62p per share before raising the offer to 67p last month. Currys said the proposals “significantly” undervalued the group,…
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11 MarchElectrical
Currys appoints Octavia Morley as non-executive director
Currys has announced the appointment of Octavia Morley as a non-executive director and a member of the company’s Remuneration, ESG and Nominations Committees with effect from 1 April 2024. The group has also announced that Tony DeNunzio, senior independent director, will step down as a director on 25 April 2024…
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7 MarchNews
Today’s news in brief-7/3/24
The British Retail Consortium (BRC) criticised Chancellor Jeremy Hunt’s Spring Budget, stating that it lacked initiatives to boost investment and growth in communities, particularly for retail businesses. Despite calls to reduce business rates and reintroduce tax-free shopping for tourists, Hunt’s budget did not address these concerns. The BRC emphasised the…
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7 MarchClothing & Shoes
Asos plans India expansion with Reliance Retail partnership
Asos is said to be in talks with Indian retail company Reliance Retail to bring the British brand to the Indian market, according to Retail Week. Reports have indicated that although an agreement has not yet been reached, conversations between the two parties have “been on for a while”. It…
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7 MarchNews
Hugo Boss sales rise by 18% to €4.2bn in FY23
Hugo Boss has announced an 18% sales increase to €4.2bn (£3.5bn) for the fiscal year 2023. For the first time in its history, sales crossed the €4bn (£3.4bn) threshold, exceeding the brand’s initial mid-term sales target two years ahead of plan. Group’s EBITDA increased by 22% to €410m (£350m), compared…
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7 MarchSupermarkets
M&S co-CEO to step down
Katie Bickerstaffe is set to retire from her role as co-CEO at M&S to pursue her board career.The company said she would step down after its AGM in July 2024. Bickerstaffe served as a non-executive director and co-COO of M&S prior to being appointed co-CEO in March 2022. According to…
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1 MarchNews
Oxford Street revamp to deliver £2.8bn in sales by 2033
The upcoming £90m Oxford Street Programme is set to deliver up to £2.8bn in total additional sales to the West End between 2027-2033, New West End Company has revealed. The significant public and private investment into Oxford Street’s public realm coincides with a wider evolution in mix across the street,…
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