United Kingdom
UK exits recession
The UK has emerged from recession. Official figures show that the economy has grown by 0.6% between January and March, the fastest rate in two years
UK: Poor weather and early Easter weigh on April retail sales
UK retail sales fell by 4 by 4.0% year-on-year in April, against a gain of 5.1% in April 2023. An early Easter and poor weather dampened sales, particularly for clothing and footwear, the BRC said
Clarks CEO steps down
The British footwear label has confirmed that Jon Ram has stepped down as CEO to “pursue other opportunities” after two years in the role
Shein eyes acquisition of Topshop
According to The Sunday Times, Topshop’s owner, Asos, has reportedly attracted interest from several prominent retail companies, including the Chinese fast-fashion giant Shein
Primark reports strong sales growth in the H1
Associated British Foods (ABF) has reported strong sales growth for Primark in the first half of the year, highlighting that the Christmas season helped to offset the impact of a slow start to the cold season
JD Sports announces acquisition of Hibbett
The British sports retailer has proposed to buy the US sportswear retailer Hibbett for around 1.08 billion USD. The move will allow JD Sports to expand its business in the North American country
Harvey Nichols appoints new CEO
The British department store Harvey Nichols has announced the appointment of Julia Goddard as CEO. She joins the company from Alexander McQueen, where she spent 14 years
Asos announces stock reduction ahead of target
The online retailer widened its losses in the first half of its fiscal year, but said its turnaround plan was progressing well, highlighting that it had reduced its stock levels ahead of target
UK retail sales flat in March
The first quarter was a disappointing one for retailers. The latest figures from the Office for National Statistics (ONS) show that both the value and volume of sales in March were unchanged on the previous month
New CEO at Dr. Martens as the outlook for FY25 worsens
The British footwear company has announced that Ije Nwokorie, currently Chief Brand Officer, will succeed Kenny Wilson as CEO, while admitting that the outlook for fiscal 2025 is challenging
Ted Baker UK to close 15 stores and cut nearly 250 jobs
Ted Baker is to close 15 of its stores across the UK within weeks and make 245 store and head office jobs redundant. The brand’s UK and Europe arm went into administration last month
Asos reports a sales decline in the first half of its fiscal year
With its turnaround plan underway, the British retailer has issued a trading update for the first half of its fiscal 2024, in which sales fell by 18% year-on-year, but maintained its annual outlook
Levi’s pulls out of footwear business
The denim company has announced that it is exiting the footwear business. This is part of its strategy to focus the business as it moves towards a more direct-to-consumer business
Dr. Martens boots its sustainability efforts
The British footwear brand has announced a partnership with The Boot Repair Company to create a brand-new repair service. It has also launched a recycled leather collection and resale platform
Short term outlook for JD Sports remains challenging
The UK-based sports retailer has reported a 3.6% year-on-year sales growth in its fiscal 2024, but expects the trading environment to remain challenging in the first half of the current year-
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