Exchange Rate
This coverage examines the impact of exchange rate fluctuations on the UK retail sector. Stay informed on how changes in currency values influence import costs, product pricing, and consumer purchasing power. Tailored for retail professionals, our reporting provides insights into how exchange rate movements affect pricing strategies, supply chains, and retail operations, especially for businesses with international dealings.
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Mar- 2025 -17 MarchNews-In-Brief
Today’s news in brief-17/3/25
Fenwick, the family-owned retailer, is facing significant financial challenges, with pre-tax losses widening to £38.1m in the year to January 2024, up from £28.4m the previous year. The company has been operating at a loss for six years due to high inflation, increased costs, and tough market conditions. Despite efforts…
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17 MarchHigh Street
Ex-Morrisons boss touted for B&M CEO role
Former Morrisons boss David Potts is reportedly among the leading candidates for the CEO role at B&M, according to The Sunday Times. Potts has reportedly been in talks with the bargain retailer for weeks about the position, which became vacant following Alex Russo’s departure last month. Sources familiar with the…
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Feb- 2025 -24 FebruaryNews-In-Brief
Today’s news in brief-24/2/25
Shein, the global online fashion retailer, saw its profits plummet by 40% to $1bn in 2024. The company faced a challenging final quarter and intensified competition from rival Temu. Shein’s declining profitability complicates its efforts to secure regulatory approval for a London listing, with some investors urging a valuation reduction…
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24 FebruaryPeople Moves
B&M CEO to retire as group lowers FY guidance
B&M has revealed that chief executive Alex Russo will retire on 30 April, as the group announced it has lowered its profit guidance for FY25 once again to a range of £605m to £625m. The group said the lowered guidance reflects the “current trading performance of the business, an uncertain…
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May- 2024 -1 MayOnline & Digital
Amazon Q1 net sales jump 13% to $143.3bn
Amazon has revealed that its net sales rose 13% to $143.3bn (£114.7bn), up from $127.4bn (£102bn), for the three months ended 31 March. This figure excludes the $0.2bn (£0.16bn) “unfavourable impact” of year-on-year foreign exchange rate changes. The company’s sales in the North America segment increased 12% year-on-year to $86.3bn…
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Mar- 2024 -12 MarchDIY
Matalan fell to £100m loss before takeover, filings reveal
Matalan fell to a pre-tax loss of £103.4m in FY23, widening from a £7m loss the prior period, in a year that saw the group rescued by a group of investors. According to newly-filed accounts with Companies House, EBITDA fell to £124.1m in the year ended 25 February 2023, down…
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Feb- 2024 -8 FebruaryNews
Today’s news in brief-8/2/24
Farfetch has appointed Akshay Navle as a new director amidst shareholder discontent following the company’s sale to Coupang. Navle, who had previously served as chief product officer at Deliveroo and co-founded Maple, brought valuable experience to the company. Farfetch’s decision to remain silent on shareholder concerns hinted at ongoing turbulence.…
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Jan- 2024 -4 JanuaryLuxury Goods
Barbour FY23 profits fall despite healthy sales rise
Barbour has revealed that operating profits fell 15% to £34.3m for the year ended 30 April 2023, despite seeing sales increase by 20% year-on-year to £343m during the period. The retailer attributed the dent in its operating profits to “intense cost pressures” on the business. In February 2023, the luxury…
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Oct- 2023 -27 OctoberNews
Today’s news in brief-27/10/23
Tesco has appointed Matthew Barnes as the new UK CEO, effective March 2024, succeeding Jason Tarry, who will step down after 33 years with the company. Barnes, with extensive experience at Aldi, previously served as UK&I CEO and co-head of Aldi Sud’s executive board. Under Tarry’s leadership, Tesco underwent a…
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May- 2023 -22 MayClothing & Shoes
Foot Locker sees 11.4% drop in sales to $1.9bn
Foot Locker has reported a 11.4% decline in total sales to $1.92bn (£1.5bn) for its first quarter ended 29 April 2023, compared with sales of $2.1bn (£1.6bn) in the first quarter of 2022. Excluding the effect of foreign exchange rate fluctuations, total sales for the first quarter decreased by 10%.…
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