News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Jan- 2024 -30 January
Pets at Home lowers guidance despite Q3 revenue jump
Pets at Home has lowered its underlying profit before tax guidance to around £132m despite the fact its group revenue…
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30 January
Shop price inflation drops to lowest level since 2022
Shop Price annual inflation eased to 2.9% in January, down from 4.3% in December, marking the lowest level since May…
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30 January
Poundland begins transition to new general merchandise ranges
Poundland has confirmed that it has begun a “complete overhaul” of its general merchandise ranges that will see it introduce…
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30 January
Studio Retail swings to full-year profit following Frasers takeover
Studio Retail has welcomed a pre-tax profit of £12m in the year ended 30 April, 2023, up from a £75.7m…
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29 January
Today’s news in brief-29/1/24
The UK experienced a significant increase in business administrations, with the retail sector being the hardest hit, accounting for 19%…
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29 January
Frasers Group to open new locations in Queensgate
Frasers Group is set to open several dynamic stores in Queensgate, Invesco’s 835,000 sq ft shopping centre, located in the…
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29 January
Hela Apparel Holdings acquires Focus Brands
Sri Lankan clothes manufacturer, Hela Apparel Holdings, has announced its acquisition of Focus Brands, a brand management company in one…
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29 January
Retail accounted for 19% of 2023 UK administrations, study finds
The retail sector accounted for 19% of administrations in 2023 – the highest industry in the UK, according to analysis…
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29 January
Iceland boss backs Labour government
Richard Walker, managing director of Iceland and former Tory donor, has publicly backed Keir Starmer to be the next Prime…
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29 January
EY resigns as Asda auditor
Big Four firm EY has reportedly resigned as auditor of supermarket giant Asda after one of its senior partners started…
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