Irish fast-fashion retailer expanding in Europe and the U.S.
Sainsbury’s has agreed to sell Argos and the Habitat brand to Swift Partners, a new vehicle led by Richard Pennycook and supported by Trevor Strain and Matt Truman. The deal will see Argos, including its standalone stores and in-store outlets, transferred to Swift, enabling Sainsbury’s to concentrate on its food business. Completion is expected in February 2027 with full separation by 2029.
Shein's Hong Kong listing is priced lower than hoped, valuing the company around $26.3 billion. Trading began shakily, with early losses narrowing as markets digest regulatory twists, tax changes, and weak consumer sentiment that have weighed on the fast-fashion group after a rapid ascent.
Inditex’s Lefties opens its first UK store in Liverpool, featuring robotics to sort clothes and a new online-first proposition. The move, part of a broader UK expansion, targets a budget-conscious segment and faces competition from Primark, Shein and others. The retailer plans more UK outlets based on early performance.
Alvarez & Marsal is coordinating a sale of Poundland after Gordon Brothers acquired the chain for £1 last year. Initial bids are expected early next month as potential buyers, including Modella Capital, weigh the upside of a revived discount retailer ahead of the festive period.
Funding Circle has announced that chief executive Lisa Jacobs will leave the group no later than September 2027 and the board has begun the search for a successor. Jacobs has led the group since 2022 after joining in 2012, as profits for the six months to June climbed, prompting an upgraded outlook. Shares fell in early trading despite the upbeat results.
Associated British Foods says Primark has acquired a Sheffield warehouse and will offer home delivery in Great Britain in the future, expanding beyond its established click-and-collect model. Primark sales are dipping year-on-year, with UK performance modestly positive while continental Europe weakens. A demerger plan to list Primark separately is targeted for end-2027.
Retail activity has held up in August and early autumn, with online and department-store sales contributing to a broader pickup in spending. Analysts note energy costs, inflation, and consumer sentiment as ongoing challenges for the economy, while a new government stance signals support measures may shift in the coming months.
Protests across Dhaka and industrial zones over a proposed minimum wage of 30,000 taka continue as the government forms a six-member wage board to review workers’ demands. The garment sector, a major export earner, faces disruption as thousands of workers demand higher pay amid rising living costs.