Today’s news in brief-6/1/25
Fast-fashion retailer Shein is set to face scrutiny from a Parliamentary Committee over labour practices in its supply chain. The inquiry, part of the government’s employment rights initiative, also involves Chinese firm Temu. The committee, chaired by ex-Labour minister Liam Byrne, aims to tackle forced labour concerns and inadequate protection against importing poor labour standards. Shein’s EMEA general counsel Yinan Zhu will testify, though Shein insists it upholds human rights and has a zero-tolerance forced labour policy.
Aldi celebrated its most successful Christmas ever in 2024, with sales reaching £1.6bn in the four weeks to Christmas Eve. The discount grocer saw a 10% rise in Christmas product sales and a 12% growth in its Specially Selected range. British fresh produce proved popular, with record sales of turkeys and vegetables.
Evri, a UK parcel delivery company, posted record volumes during its peak festive season, delivering 173 million parcels over nine weeks. The firm experienced a “mega-week” post-Black Friday, handling 24.7 million parcels, up 20.8% from 2023. Despite challenges like Storm Darragh, Evri maintained strong service levels, with domestic and international trade driving growth.
Waterstones, led by CEO James Daunt, plans to open dozens of new stores in 2025 after a strong holiday season. Last-minute shoppers boosted sales across all genres, with the final weekend before Christmas proving exceptional. Daunt highlighted inflation’s challenges but supported increased national insurance contributions. Under Daunt’s leadership, Waterstones, owned by private equity group Elliott since 2018, has expanded steadily and performed well despite broader economic pressures.
New Look is accelerating store closures due to rising costs from tax changes, including a 6.7% minimum wage increase and higher employer National Insurance contributions. About a quarter of its 364 stores may shut as leases expire, impacting 8,000 staff. Despite narrowing pre-tax losses from £87.8m to £21.7m in 2024, New Look faces declining sales, which it attributes to challenging trading conditions and previous closures. The company continues to invest in its remaining stores and digital platforms.
London Designer Outlet (LDO) in Wembley Park reported a 5% rise in annual sales to over £103m, supported by a 2% increase in footfall, totaling 5.4 million visitors. The outlet recorded its best Black Friday ever and strong Christmas trading, with £3.4m in sales during a single week. New brand arrivals, including French Connection and Rituals, alongside committed existing retailers, bolstered performance. LDO’s F&B offerings, such as Nando’s and Wagamama, also expanded.
