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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Mar- 2022 -17 March
Abercrombie & Fitch unveils new activewear sub-brand YPB
Abercrombie and Fitch, a division of Abercrombie and Fitch Co., has announced the launch of a new activewear sub-brand called…
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17 March
BoE raises interest rates to 0.75%
The Bank of England has raised interest rates back to the pre-pandemic level of 0.75% as it tries to mitigate…
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17 March
Deliveroo losses widen to £298m despite surging revenues
Deliveroo has announced a loss before income tax of £298m in comparison to £213m in 2020 during its FY21. According…
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17 March
Prada FY21 revenues spike 41% to €3.36bn
Prada S.p.A has reported its revenues increased 41% year-on-year to €3.36bn (£2.82bn) in the full year ending 31 December 2021,…
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17 March
Brunello Cucinelli acquires 43% stake in Lanificio Cariaggi
Luxury fashion retailer Brunello Cucinelli has announced that it has acquired from the Cariaggi family a 43% stake in the…
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17 March
Retail insolvencies surge 21% amid supply chain issues
Data recently released by the Insolvency Service has shown that insolvencies amongst retailers businesses have surged in the past year…
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16 March
Currys boosts hourly base rate for colleagues
Currys plc has today announced a 5.2% increase to the minimum pay rate of its hourly paid colleagues in the…
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16 March
Vestiaire Collective acquires US reseller Tradesy
Vestiaire Collective, the global online marketplace for “pre-loved fashion” has announced the acquisition of Tradesy, the US fashion reseller for…
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16 March
Inditex FY21 profits surge 199% despite Omicron impact
Inditex, the parent company of Zara, has reported its income before tax surged 199% to €4.19bn (£3.53bn) between 1 February…
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16 March
BRC calls for reform on Apprenticeship levy to create 8,000 new jobs
The British Retail Consortium (BRC) has written to the secretary of state for education calling on the government to introduce…
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