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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Aug- 2022 -31 August
Boohoo warns suppliers risk further HMRC costs over polybag content
The Boohoo Group has reportedly been charged by HMRC as some of its polybags don’t have the certificate to confirm…
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31 August
Co-op sells petrol forecourt estate to Asda for £600m
Co-op has agreed to sell its petrol forecourt business to Asda in a £600m deal. The enterprise value of approximately…
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30 August
Joules deal with Next in danger after share price tumbles
Joules’ hope of securing an investment lifeline from Next has taken a blow after reports suggest that the two companies…
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30 August
Farfetch revenues increase 10.7% in Q2
Online luxury fashion retail platform, Farfetch, has announced that the group’s revenue increased by 10.7% year-over-year in Q2 to $579.3m…
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30 August
Asda eyes £450m bid for Co-op’s petrol forecourts
Supermarket group Asda is reportedly preparing to make a £450m swoop on the Co-op Group’s petrol forecourt business, according to…
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30 August
Store closures drop to lowest rate in seven years
Store closures have stabilised to the lowest rate in over seven years, with 6,146 store closures in H1 2022 (-30%)…
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26 August
Retail entrepreneur swoops to acquire Paperchase
Steve Curtis, an operating partner at Rcapital, the turnaround investor, has reportedly agreed to buy Paperchase as a private investor…
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26 August
Abercrombie lowers sales forecast amid Hollister pressures
Abercrombie and Fitch Co. has lowered its sales forecast for FY22, with sales expected to be down mid single-digits from…
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26 August
Asda sees Q2 sales improve but remain down on 2021
Asda has revealed that it saw like-for-like sales in Q2 2022 ending June 30 fall by 1.9% year-on-year compared to…
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26 August
Energy price cap to rise by 80% to £3,549 from October
Ofgem has confirmed that the energy price cap will increase by 80% to a record £3,549 a year for dual…
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