Retail
Shein’s UK revenue rose 26% to £2.58bn in 2025, while pre-tax profits increased 18% to £45.2m. UK revenue exceeded ASOS’s £2.48bn global revenue, although the figures are not directly comparable. However, Shein’s international quarterly profits fell 67%, driven by higher freight costs and weaker US and European sales, while planned UK import duty changes could further pressure margins (Retail Gazette, 12/10/26).
Schuh has appointed former Footasylum finance chief Nick Scott as its new chief financial officer, effective 2 November 2026. Scott, who has over 20 years of financial and operational experience, replaces David Gillan-Reid after 28 years and will support the Genesco-owned retailer’s growth and digital strategy (Retail Gazette, 12/10/26).
Martin Property Group has reportedly emerged as the preferred backer of a management-led takeover of Poundland, potentially safeguarding almost 12,000 jobs and nearly 600 stores. The proposed rescue deal could involve acquiring the retailer for £1, repaying outstanding loans and injecting fresh capital, avoiding administration. Current owner Gordon Brothers is seeking repayment of a £30m shareholder loan, with a sale targeted before the end of October (Retail Gazette, 12/10/26).
DPD has leased 47,944 sq ft at Union Park Industrial Estate in Norwich for £407,950 annually, representing a 15% premium to estimated rental value. The letting follows a £1.1m refurbishment that improved the units’ energy performance rating to EPC A (Property Week, 14/10/26).
Matalan has agreed a 15-year lease renewal at a retail park in Bletchley, securing annual rental payments of £529,550. The agreement forms part of Schroder REIT’s recent leasing activity across its portfolio (Property Week, 14/10/26).
Tesco has signed a 15-year lease at Headingley Central in Leeds, forming part of Schroder REIT’s nine recent lettings, which collectively generated £1.2m in annual rental income (Property Week, 14/10/26).
HMV has announced plans to close its flagship store at 363 Oxford Street in March 2027, just three years after reopening, citing a proposed doubling of rent and substantial renovation costs that would make the site commercially unviable. The closure will affect more than 50 employees, although HMV intends to relocate staff where possible and secure a new flagship location in London's West End (BBC News, 12/10/26).
Kingfisher, the parent company of B&Q and Screwfix, has appointed OBI chief executive Sebastian Gundel as its new CEO, effective 1 February 2027. Gundel will replace Thierry Garnier, who is leaving to lead Ahold Delhaize, bringing over 20 years of home improvement experience and expertise in digital transformation. Kingfisher's CFO, Bhavesh Mistry, will serve as interim CEO during January 2027 (Retail Gazette, 13/10/26).
Frasers Group has increased its financial interest in Burberry from 6.32% to 7.42%, strengthening its exposure to the luxury fashion sector. The position, representing 27 million potential voting rights, is held entirely through financial instruments rather than direct share ownership. The move follows Frasers' £43.3m acquisition of Harvey Nichols and its growing involvement in Hugo Boss, reflecting its wider luxury expansion strategy (Retail Gazette, 13/10/26).
Morrisons, Waterstones, PizzaExpress, Itsu and Poundland are among major UK retailers being considered for potential sales as private equity owners seek to exit investments. The activity follows the £6.7bn sale of Boots and growing pressure on investors to release capital. UK retail deal values have reached $10.1bn across 54 transactions in 2026, more than double the value recorded during the same period in 2025 (Retail Gazette, 13/10/26).
LVMH reported a 5% decline in Q3 2026 organic sales across its fashion and leather goods division, driven by weaker Chinese demand and declining Louis Vuitton sales. Group organic revenue increased by just 1%, below expectations, despite stronger performances from selective retailing, including Sephora, which grew 8%, and watches and jewellery, which increased 6%. The results highlight continued challenges facing the luxury sector's recovery (Retail Gazette, 13/10/26).
A major cyberattack disrupted refrigeration systems across hundreds of French supermarkets, forcing retailers including Intermarché, Carrefour and Monoprix to discard significant quantities of food. Approximately 150 Intermarché and 80 Carrefour stores were affected, with refrigeration temperatures reaching 50°C and causing substantial financial losses. The incident has been linked to vulnerabilities in outdated Danfoss refrigeration software, prompting investigations by French cybersecurity authorities (Retail Gazette, 13/10/26).
Poundland faces potential administration within days, putting approximately 12,000 jobs across 600 stores at risk, as owner Gordon Brothers seeks a rescue deal. The Range owner CDS Superstores has joined potential bidders, alongside Fortress Investment Group and Modella Capital, while Martin Property Group is backing a proposed management buyout involving Barry Williams and former Asda chief Andy Bond. Negotiations are reportedly complicated by Gordon Brothers’ demand for repayment of a £30m shareholder loan. Despite a recent return to like-for-like sales growth and the closure of over 100 stores, the retailer’s future remains uncertain (Retail Gazette, 13/10/26; Retail Gazette, 15/10/26).
Pets at Home is investing over £110 million to refurbish 460 stores as part of its Retail Turnaround Plan. The Our Space Reset programme will improve store layouts, customer environments and space for growing product categories and services, with approximately five stores being refurbished weekly. The retailer has also reduced overhead costs by £20 million as part of its wider transformation strategy (Retail Gazette, 15/10/26).
Ikea’s largest retailer, Ingka Group, has appointed Erika Intiso as chief sustainability officer, effective 15 November 2026. Intiso, currently country retail manager for Ikea in the Czech Republic, Hungary and Slovakia, will succeed Karen Pflug and oversee the group’s global sustainability strategy. The appointment follows progress in sustainability initiatives, including a 70.6% reduction in operational emissions against its 2016 baseline (Retail Gazette, 15/10/26).
Dunelm has warned that first-half underlying pre-tax profits are expected to decline following weaker summer trading, although full-year guidance remains unchanged. Total sales rose 1.1% in its first quarter, despite a 0.8% decline in like-for-like sales. The retailer is targeting £100m in cost savings by FY2029, having already reduced central roles by approximately 8%, while planning up to 10 new store openings annually over the next three years (Business Live, 15/10/26).
Logistics
Stellantis reported a 1% year-on-year decline in global vehicle shipments to approximately 1.3 million units in Q3 2026, primarily driven by a 12% drop in North America to 357,000 vehicles following summer production shutdowns. Shipments also fell 21% in the Middle East and Africa, while Europe recorded a 10% increase to 588,000 vehicles, supported by electric vehicle demand and deliveries from Chinese partner Leapmotor. The company is pursuing a €60bn turnaround plan following two years of declining market share and weak sales, with full Q3 results due on 28 October (Reuters, 13/10/26).
DHL Global Forwarding has expanded its healthcare cold chain network with six new air freight routes connecting Europe and North America with key pharmaceutical markets in Asia. The expansion strengthens temperature-controlled logistics capacity for medicines, vaccines and clinical trial materials, while improving routing flexibility and shipment reliability. It follows further investment in healthcare logistics infrastructure, including a planned cold chain hub at Singapore’s Changi Airport (Logistics Manager, 13/10/26).
DP World and Thames Freeport have completed a £13m logistics training and innovation facility at London Gateway. Known as The Hive, the three-storey hub will support approximately 1,125 trainees annually, providing advanced logistics training, meeting spaces and business facilities. The BREEAM Outstanding-rated development is expected to become operational in November 2026, supporting workforce development across the growing logistics hub (Logistics Manager, 15/10/26).
DP World has completed a £60m quay crane investment programme at the Port of Southampton, strengthening one of the UK's principal container gateways. The arrival of two additional cranes completes a four-crane programme designed to accommodate the world's largest container vessels and increase terminal efficiency. The investment supports continued growth at Southampton's container terminal, which handles approximately two million containers annually (Container News, 13 October 2026).
CMA CGM and ENGIE have agreed to develop a biomethane production facility at the Port of Le Havre, France, strengthening the shipping group's access to renewable marine fuels. Subject to final investment approval, the facility is expected to supply approximately 7,000 tonnes of biomethane annually from 2029, potentially avoiding 23,000 tonnes of CO₂ emissions each year. The project supports CMA CGM's fleet decarbonisation strategy, with more than 200 alternative-fuel-capable vessels expected by 2030 (Container News, 14 October 2026).
A.P. Moller Capital has agreed to acquire 100% of Portek International from Mitsui & Co., significantly expanding its global port infrastructure portfolio. Portek operates seven multipurpose terminals across Algeria, Gabon, Indonesia, Latvia, Malta and Vietnam, handling approximately seven million tonnes of bulk cargo, 700,000 containers and 90,000 vehicles annually. The transaction strengthens the Danish investment manager's exposure to international port operations and follows agreements to acquire stakes in Moroccan logistics company Globex Investissement and terminal operator Euroports (Container News, 15 October 2026).
ID Logistics has opened a new 35,000 sq m logistics centre in Lower Saxony, Germany, expanding its national network to 17 facilities. Located at Mittelweserpark, the site specialises in handling heavy and bulky consumer goods, including furniture and household appliances, with capacity for approximately 7,000 oversized items. The facility is expected to employ 150 people when fully operational, bringing ID Logistics' German warehouse footprint to approximately 910,000 sq m (Container News, 16 October 2026).
DHL Global Forwarding has expanded its pharmaceutical cold-chain network with six dedicated air freight corridors connecting Europe, North America and Asia. The new routes link Liège with Shanghai, Brussels with Shanghai and Singapore, and Cincinnati with Singapore, Tokyo and Seoul. The expansion provides additional temperature-controlled capacity for medicines, vaccines and clinical trial materials, with most flights operated using DHL's own aircraft to improve shipment visibility and handling reliability (Logistics Manager, 13 October 2026).
SBB Cargo International has secured CargoBeamer's largest-ever rail traction contract, strengthening its position in European cross-border freight transport. The 24-month agreement will begin in 2027 and covers CargoBeamer's Kaldenkirchen-Domodossola intermodal corridor, connecting Germany and Italy through Switzerland. CargoBeamer plans to increase service frequencies along the route, which specialises in transporting semi-trailers by rail, although the contract value and additional capacity have not been disclosed (Rail Market, 14 October 2026).
InPost has expanded its UK parcel delivery network through a new partnership with retailer Ann Summers, strengthening its position in out-of-home e-commerce fulfilment. Customers can now select 48-hour delivery to InPost lockers and return purchases through the company's network of more than 16,000 UK parcel lockers. The agreement reflects growing retailer demand for flexible delivery and returns services as parcel operators compete to capture a larger share of e-commerce volumes (Logistics Manager, 13 October 2026).
Yusen Logistics has expanded its Italian pharmaceutical distribution network with a new temperature-controlled logistics hub in Bari. Operated by subsidiaries Movianto and Eurotranspharma, the 1,000 sq m facility provides 14 loading docks and storage environments maintained at 15-25°C and 2-8°C. The hub will support daily deliveries to pharmacies, hospitals and pharmaceutical wholesalers across Puglia, strengthening connections between northern and southern Italy through existing facilities near Milan and Naples (Container News, 10 October 2026).
Office
Sharp has relocated its UK headquarters from Wakefield to the South Central office building in Leeds, taking 10,200 sq ft on a 10-year lease with a five-year break option. The new headquarters will accommodate approximately 100 employees and feature a technology showroom and modern collaborative workspace (Property Week, 13/10/26).
Klipboard has leased 19,425 sq ft at White Rose Office Park in Leeds on a 10-year lease from Munroe K Luxembourg. The software and AI company will consolidate its regional operations with recently acquired fleet management provider RAM into the ABC Building, supporting its continued expansion (BE News, 15/10/26).
Great British Railways has selected a 106,000 sq ft development in Derby for its new national headquarters, accommodating up to 450 employees. The government-backed organisation will occupy 3 Springwell Square within the Becketwell regeneration scheme, with construction expected to begin in early 2027 and completion anticipated in spring 2029. The eight-storey development will consolidate key railway functions into a national headquarters in Derby (Construction News, 15 October 2026).
A&O Shearman has begun relocating its London workforce to a new 360,000 sq ft headquarters at 2 Broadgate. The international law firm is moving from One Bishops Square after 20 years, with the relocation across eight floors expected to finish by the end of October. The new workplace incorporates flexible working areas, collaborative facilities and employee amenities, supporting the firm's longer-term workplace and sustainability strategy (A&O Shearman, 12 October 2026).
Citadel is reportedly preparing to take approximately 80,000 sq ft of office space at 20 Carlton Terrace House in London's St James's district. The hedge fund is expected to assume BP's existing lease, establishing a substantial West End presence alongside its planned City headquarters. The proposed transaction would further expand Citadel's London office footprint, although the agreement has not been confirmed as completed (CoStar News, 14 October 2026).
Deloitte has completed its Birmingham office relocation, taking 46,000 sq ft at One Centenary Way. The professional services firm has moved from Brindleyplace to the Paradise development, occupying the seventh and eighth floors and providing accommodation for its approximately 1,000 Birmingham employees. The relocation forms part of a wider UK office strategy that has included moves in Aberdeen, Belfast, Bristol and Manchester over the past two years (Place Midlands, 16 October 2026).
Taylor & Francis has agreed to relocate its Oxfordshire headquarters from Milton Park to a 30,000 sq ft office in central Oxford. The academic publisher will occupy the refurbished Cantay House on Park End Street, with the move scheduled for early 2028. The relocation follows the expiry of its existing lease and will provide improved transport connections, collaborative facilities and publicly accessible spaces for researchers and authors (Taylor & Francis, 14 October 2026).
Central Saint Martins has agreed to expand its King's Cross campus by 17,782 sq ft, consolidating more of its operations into a single location. University of the Arts London has signed a lease for additional accommodation across parts of the first and second floors of Western Transit Shed South. The expansion will enable the institution to bring more employees and students together, strengthening its long-term presence at King's Cross (CoStar News, 13 October 2026).
The Solicitors Regulation Authority has been identified as the occupier behind a major 54,000 sq ft office letting at 10 Brindleyplace in Birmingham. The regulatory body's commitment was highlighted in newly published third-quarter office market figures, representing one of the city's largest occupier transactions of 2026. The letting contributed significantly to Birmingham's office take-up during the period (CoStar News, 13 October 2026).
Bic has agreed to relocate its North American headquarters from Shelton to Norwalk, Connecticut, securing 32,000 sq ft of office space. The consumer goods manufacturer has signed a lease at 501 Merritt 7, with approximately 220 employees expected to move into the new headquarters during the second quarter of 2027. Its existing manufacturing operations in Milford will remain unaffected (CT Insider, 15 October 2026).
Other
GE Aerospace has announced a £57m investment to expand and modernise its aircraft maintenance facility at Prestwick Airport, including £30m from the company and £27m through the Ayrshire Growth Deal. The project includes a new 55,000 sq ft building, expected to be completed by early 2028, and is forecast to create approximately 150 jobs over five years, increasing operational capacity and supporting future demand (BBC News, 12/10/26).
Workspace Group reported subdued customer activity and slower asset disposals in the quarter to September 2026, amid higher interest rates and economic uncertainty. Lettings declined to 227 from 326 a year earlier, while renewals fell to 96 from 124. Total rent roll decreased 0.6% to £126.6m, with occupancy slipping to 79.2%. The company has completed £138m of disposals towards its £200m target by March 2027, although further planned sales may take longer. Workspace continues its turnaround strategy, introducing new pricing, digital initiatives and furnished office offerings to support growth (Property Week, 15/10/26).
Microsoft has filed a lawsuit against JLL over its alleged failure to provide insurance coverage and cover legal costs following a 2023 construction accident at Microsoft's 150,000 sq ft offices at 122 Fifth Avenue in New York. Microsoft claims JLL, which managed the office fit-out, breached its contractual obligations by failing to include the company under a $10m liability insurance policy after a worker suffered serious injuries in a forklift accident. JLL has reportedly refused to cover Microsoft's associated legal costs (Bisnow, 12/10/26).
Bank of America has experienced a series of senior investment banker departures, including Amy Lissauer, Mike Joo and Ed Liu, amid intensifying competition and concerns overcompensation. The bank slipped from third to fourth in global investment banking fee rankings, prompting executives to reassure staff and accelerate recruitment, particularly in technology. Despite these challenges, Bank of America reported its second-highest first-half investment banking fees on record and hired more than 40 managing directors in 2026, with senior appointments reportedly exceeding departures (Reuters, 13/10/26).
Goldman Sachs reported a 29% increase in Q3 2026 net profit to $5.29bn, up from $4.10bn a year earlier, exceeding analyst expectations. Total revenue rose 23% to $18.68bn, driven by a 72% surge in equities trading revenue to $6.44bn and a 21% increase in investment banking fees to $3.22bn. Asset and wealth management revenue also grew 14%, although fixed income, currency and commodities revenue declined 1% to $3.47bn (Reuters, 13/10/26).
Whitbread, owner of Premier Inn, has urged shareholders to reject activist investor Corvex Management’s proposal to appoint a director to its board, defending its five-year expansion plan to add 14,000 rooms across the UK and Germany. Corvex, Whitbread’s third-largest shareholder, has criticised the strategy and previously called for a sale of the business. For the 26 weeks to 27 August 2026, adjusted pre-tax profit fell 9% to £287m, despite revenue rising 2% to £1.57bn and adjusted EBITDA increasing 1% to £608m. Whitbread has also closed 260 branded restaurants as part of its restructuring, with more than 100 sites subsequently acquired by other hospitality operators (Property Week, 13/10/26).
BMW reported a 6.3% year-on-year decline in global vehicle deliveries to 551,072 units in Q3 2026, primarily driven by a 24.8% slump in China to 114,355 vehicles amid intensifying competition from domestic manufacturers. However, deliveries increased by 2.5% in the US and 2.7% in Europe, while battery electric vehicle deliveries rose by 7.2%. The decline reflects wider challenges facing German automakers, including Volkswagen, Mercedes-Benz and Porsche, which also reported falling quarterly deliveries (Reuters, 13/10/26).
General Motors reported sales of more than 358,000 vehicles in China during Q3 2026, with new energy vehicles accounting for a record share of over 60%. Growth was supported by strong demand for electric and plug-in hybrid models, including the Buick ELECTRA, Cadillac XT5 and Wuling ranges, reflecting GM’s expanding presence in China’s electric vehicle market (General Motors, 12/10/26).
Marston’s expects underlying pre-tax profit for the year ending September 2026 to exceed the upper end of market expectations of £83.2m, representing more than three times its 2023 profit of £25.6m. The pub operator reported a third consecutive year of significant profit growth, with its adjusted EBITDA margin improving by approximately 100 basis points and debt levels halving over the past three years. Despite full-year like-for-like sales declining 1.2%, disciplined cost control and improved operating efficiency supported stronger profitability and cash generation (Alliance News, 13/10/26).
PureGym has agreed to acquire Swiss fitness operator NonStop Gym for £235m, adding 47 locations to its existing 49 Swiss sites. The acquisition will strengthen PureGym’s national presence, with plans to exceed 100 sites in Switzerland by the end of 2026, supporting its wider international expansion strategy (Business Live, 15/10/26).
