Today’s news in brief-10/1/25
Shein is reportedly planning a London IPO by mid-2025, with Easter 20 April as a possible completion date if regulatory approval is secured. Rachel Reeves, UK Shadow Chancellor, is visiting China for economic talks, accompanied by Britain’s Financial Conduct Authority head, potentially advancing Shein’s IPO progress. Meanwhile, scrutiny from MPs over Shein’s supply chain raised concerns about its sourcing of cotton, particularly from China, as its representatives failed to provide concrete answers, leading to sharp criticism. Despite these challenges, Shein continues to push for expansion.
Sainsbury’s announced plans to increase staff pay following a 3.7% sales rise in the 16 weeks ending 4 January 2025, with a festive sales boost of 3.8%. Promotions during Black Friday and Christmas bolstered Argos sales, though the latter saw a slight overall decline in Q3. CEO Simon Roberts highlighted seven consecutive quarters of growth, strong Christmas performance, and the success of premium ranges like Taste the Difference, which grew by 16%.
Fast Retailing, Uniqlo’s parent company, reported a 10.4% revenue rise to ¥895.1bn (£4.6bn) in Q1 2025, driven by strong performances across Japan, North America, and Europe. International revenue surged 13.7%, while Japan’s domestic market saw steady growth. Uniqlo’s early launch of winter collections contributed to robust sales of seasonal items like cashmere and seamless down. However, revenue and profits in China declined due to poorly matched product mixes for warm winter conditions. Despite this, the group maintained its full-year forecast, expecting a 9.5% revenue increase to ¥3.4tr (£18bn).
US retailer Macy’s announced the closure of 66 stores as part of its “Bold New Chapter” strategy, which aims to focus resources on profitable locations. This strategy, targeting the closure of 150 stores over three years, has already boosted sales and customer satisfaction at revamped pilot stores.
Tala has appointed Jon Wetherell as creative director, marking a significant step in its international expansion. With extensive experience at brands like Net-A-Porter and Boden, Wetherell will shape Tala’s creative strategy, visuals, and tone. Founder Grace Beverley expressed excitement about his role in driving innovation and meeting consumer needs in active-inspired fashion.
Future Stores has named Oliver Murray as its first sales director, following the October 2024 launch of its £20m flagship store on London’s Oxford Street. Known for his expertise in immersive retail experiences, Murray will oversee collaborations with rotating partner brands, offering dynamic showcases blending physical and digital engagement. The store’s high-tech features, including micro-LED displays and interactive tutorials, have positioned it as a pioneering retail concept.
