The company, formerly Hermes, also recorded its biggest individual trading week, handling 24.7 million parcels in the week following Black Friday as shoppers snapped up bargains during what the business termed “thrift-mas.”

On its busiest day, 4 December, Evri delivered nearly 3.8 million parcels, averaging 2.7 million deliveries per day during the festive period.

To prepare for the peak period, the firm recruited 9,000 additional couriers and 1,000 employees across other parts of the business.

The company also enhanced customer service, offering improved contact options and new delivery preferences for customers with accessibility needs.

During the key festive period, Evri said domestic parcel volumes rose by 6.9%, while overseas inbound trade surged by 24%, driven by demand for value-oriented online shopping.

Evri CEO Martijn De Lange said: “We continue to see fast growth towards our five-year target to become a billion parcel a year business and the Christmas trading period was no exception with our delivery volumes demonstrating that retailers online offerings fared much better than expected.

“We saw record volumes of deliveries and double digit growth as generous shoppers treated loved ones and friends.

“During a festive season that saw approximately 40 million UK adults doing most of their Christmas shopping online, the investments in our network and customer service paid off – sustaining our yearly average of more than 99% of standard parcels being delivered on time.”

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The frozen food supermarket has expanded its £1 or less range to now include over 1,000 products, alongside the return of its £10 for 10, buy 2, get 1 free and half-price must-haves in store and online.

Research commissioned by Iceland found that January is the most financially difficult month of the year for half of the population (50%).

A further 50% of Brits say they are actively searching for ways to save on food and essentials, with over half (56%) adjusting their shopping habits to cut costs.

Iceland Foods executive chairman Richard Walker said: “We know families are looking to reduce spending in all aspects of everyday life and we know that we need to do our bit to help.

“January will be a struggle for millions, it’s no secret that bills are going to rise and it’s going to hit some families extremely hard. That’s why we’re stepping up, expanding our £1 or less lines and introducing hundreds of deals. We’re here to help this January.”

Iceland joins Asda, which has slashed the prices on over 2,500 household essentials, offering an average discount of 26% both in-store and online, as part of its “Big Jan Price Drop” initiative.

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The trade committee noted that while the Black Friday weekend had delivered more promising results in the Golden Quarter, they were overshadowed by a “lacklustre” holiday season.

Total UK footfall in 2024 was down 2.2%, compared to 2023, and 2.5% lower in the three months to December, the BRC reported.

Shopping Centres were the worst hit, with visitor numbers falling 3.3% in the five weeks to 28 December. However, this was up from -6.1% in November.

High street’s were marginally better, with footfall down 2.7% last month compared to -3.7% in November. Retail Park footfall was unchanged in December, a rise from -1.1% the month before.

BRC chief executive Helen Dickinson said: “A drab December which saw fewer shoppers in all locations, capped a disappointing year for UK retail footfall.

“This means 2024 is the second year in a row where footfall has been in decline. High streets and shopping centres were hit particularly hard throughout the year as people veered towards retail parks to take advantage of free parking and the variety of larger stores.

“Even the Golden Quarter, typically the peak of shopping activity, provided little relief, with footfall down over the period. While the Black Friday weekend delivered more promising results, they were overshadowed by a lacklustre festive season.

“Shopping habits have been changing fast and customers are increasingly looking for more experiential shopping, as well as a variety of cafes, services and things to do.

“Unfortunately, investment in town centres and high streets is held back by our outdated business rates system, which penalises town and city centres,” she added.

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The cross-party Business and Trade Committee has requested the presence of representatives from the two online giants to appear before them in a hearing on 7 January, Reuters reported.

The committee, chaired by former Labour minister Liam Byrne, is investigating the government’s flagship employment rights bill in the context of protections for British workers.

It is also looking at how to ensure adequate protection against importing poor labour standards, including concerns over forced labour.

Shein’s general counsel for Europe, Middle East and Africa Yinan Zhu and Temu senior legal counsel Stephen Heary has been called to be a witness, an update on the committee website showed.

The hearing comes as it was reported last month that Shein is still waiting for the UK’s financial regulator to approve its IPO after it received challenges about the fast fashion giant’s supply chain.

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The streetwear retailer’s parent company Ashworth & Parker posted a pre-tax loss of £43m in the year to end of March, down from a £9m profit the year before, as sales slipped 3.8% to £212.7m, The Times reported.

The loss came mostly from impairments linked to the implementation of a new stock system in 2022, which End Clothing said last year had created logistical problems preventing it from shopping products and leading to a multimillion-pound write-off.

Accounts filed on Companies House show consultancy costs incurred to fix the problems and costs related to removing old stock.

The retailer said it had taken steps to reduce its stock intake throughout the year to “de-risk” its inventory exposure. It closed the year with £62m of stock, down from £92.7m.

It added that softer consumer demand required the business to increase its promotional activity to shift stock.

End Clothing said that it was seeing “significant efficiencies and improved service levels” under its new warehouse system. “Inventory is now at very healthy levels and we are focusing fully on new season trading for SS25.”

The brand switched hands late last year, when private equity giant Apollo acquired the business in October from The Carlyle Group.

Apollo had helped to finance The Carlyle Group’s purchase of a majority stake in the brand back in 2021, which valued the business at £750m.

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The Spanish fashion giant’s new 42,000sq ft store has increased in size by 55% from 27,200sq ft – housing a larger collection of Zara’s menswear, womenswear, and childrenswear across two floors.

The retailer said that “together with a more spacious interior, the flagship places the customer experience at the forefront, adopting the brand’s latest innovative technologies such as self-service payment facilities”.

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Liverpool ONE asset management director Rob Deacon said: “Liverpool ONE is defined by its leading mix of brands and ability to deliver the best of the best, and the opening of Zara’s significantly upsized regional flagship is the perfect example of this.

“Demand for Liverpool ONE is at an all-time high, with leading brands recognising its appeal as a destination for flagships and showcase spaces.

“2024 was a milestone year for big-name signings and 2025 will be our biggest year for openings yet, with Uniqlo, Sephora and TFG London set to make their debuts.”

The Liverpool ONE store revamp aligns with Inditex’s strategy of creating larger flagship stores for Zara, featuring enhanced brand experiences such as expanded product ranges and digitally enabled services.

The expansion also increases the total trading footprint of Inditex-owned brands within the scheme to 68,000 sq ft. Other group companies at Liverpool ONE include Bershka, Stradivarius, and Pull&Bear.

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Retail Gazette speaks with industry experts to find out their predictions of which retailers will be the winners and losers of 2025.

Nick Bubb

Retailing analyst 

Winner: M&S

M&S has been one of the winners of 2024, but it is well placed to build on its recent success in 2025, thanks to its significant investment in creating impressive food halls and the development of a ‘weekly shop’ food range, as well as its stronger multi-channel positioning in clothing.

Loser: B&M

B&M has been one of the losers of 2024, but it looks like it will continue to underperform in 2025, given its inability to match the powerful loyalty card discounts of its supermarket rivals in food and its failure to develop a credible presence in non-food online.

Patrick O’Brien

Research director, Globaldata Retail

Winner: John Lewis

It might seem like it’s in reverse ferret mode since Sharon White left, but John Lewis goes into 2025 on the front foot. The return of its Never Knowingly Undersold promise and the de-emphasis of its cannibalistic Anyday range is re-establishing the department store as a place for quality products at the right price.

Loser: H&M

While value clothing players scramble to fend off the threat of Shein, H&M is reacting with almost Gap-like slouchiness. Primark is more fashionable, Uniqlo does basics better, Shein is cheaper. H&M needs to find a compelling reason for people to shop there.

Susannah Streeter

Head of money and markets, Hargreaves Lansdown

Winner: Marks and Spencer

Marks and Spencer has been making remarkable progress with its ranges, which have tickled the fancy of shoppers, leading to some impressive revenue growth. Its core customers have been more insulated from cost-of-living headwinds, but they’ll still have an eye on trimming costs. Clothing and home has made some impressive strides and sales growth reflects improved customer perceptions of value, quality, and style. What is particularly impressive is that over 80% of M&S’s clothing has sold at full price – which is much higher than most of its rivals. Profitability dipped slightly in the first half – due to investment in digital platforms but this is positioning the company more resilient for future growth.

Loser: Boohoo 

Key customer metrics and profits have been trending in the wrong direction at Boohoo and although there is a plan in place aimed at turning things around, big challenges lie ahead in 2025. The situation has prompted major shareholder Mike’s Ashley’s Frasers Group to try and gain two board seats at the company. Boohoo’s board has already rebuffed attempts to install Mike Ashley as CEO. They are instead counting on Dan Finley, with his successful track record at Boohoo’s Debenhams online business, to turn the company’s fortunes around.

Kate Calvert

Head of retail and consumer research, Investec

Winner: Watches of Switzerland

After a more difficult 2024, Watches is well positioned to take advantage of a market recovery in 2025. Brands are back launching more appealing mid-priced range and watches has a number of exciting new projects opening, including the long awaited Rolex flagship on Bond Street. In addition, we expect strong growth to come through in pre-owned and luxury jewellery.

Loser: Boohoo

Boohoo’s underperformance has caught the attention of Frasers Group. We expect 2025 to be another challenging year for the group and are concerned about the general health of a number of Boohoo’s brands given the inroads Shein and others are making into its territory. Turnaround stories are rarely straightforward, take time and are not without risk.

Catherine Shuttleworth

Savvy Marketing CEO

Winner: Primark

Under the smart leadership of Paul Marchant the Primark business continues to grow internationally through a strong strategy and comprehensive roll out programme. In the UK their growth continues with customer appetite for their offer resilient. In high streets across the UK where other retailers have long deserted shoppers Primark continues to surprise and delight.

Loser: Boohoo

Internal wrangling and debt repayments aside, the group is struggling to connect its brands with shoppers. As the original shoppers grow up they aren’t being replaced by the next generation of shoppers and they seem to have lost their ability to connect with them.

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The deal will see Laura Ashley’s UK-based team retained as part of a strategy to expand Marquee Brands’ global footprint.

The move includes the opening of its first European headquarters in London and increases the retail value of Marquee Brands’ portfolio to $4bn (£3.23bn).

Marquee Brands CEO Heath Golden said: “Laura Ashley’s licensed business model and robust group of high-quality partners makes the brand a seamless addition to Marquee Brands. We are excited to harness the strong affinity for this iconic brand and drive expansion across new platforms and partnerships.

“With the existing UK team in place, we are primed and ready to leverage Laura Ashley’s seven-decade legacy to unlock its future potential as a full lifestyle brand innovating new products and categories, offering unique collaborations and engaging multi-generational audiences in key markets worldwide.”

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Gordon Brothers head of brand Tobias Nanda added: “As a firm that actively invests in and revitalises iconic brands like Laura Ashley, we acquired the British heritage brand out of insolvency in 2020 and built a flexible, scalable licensing business and a global e-commerce presence over the last four years.

“We could not be prouder of Laura Ashley’s growth under Carolyn D’Angelo’s leadership, the former president of Laura Ashley, and know the brand is in the right hands for continued global growth under Marquee Brands’ leadership.”

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Despite a 6% drop in turnover, which fell to £322m from £343m, the British fashion retailer managed to boost its profits thanks to effective cost-saving measures and favourable foreign exchange rates amid what it described as “relentless” cost and pricing pressures.

The company attributed the decline in turnover to a “challenging” wholesale market and rising costs.

“Our long-term strategy remains consistent and relevant, dedicated to the vision of being recognised as a trusted and leading British global lifestyle brand with distribution channels via wholesale, retail, ecommerce and licensing,” said the heritage brand.

“We always strive to deliver excellent service, remain steadfast in our commitment to the heritage and ethics of our brand, supporting sustainable recovery and long-term growth in line with our vision and values.”

In a bid to strengthen its presence in the Asia-Pacific region, the retailer opened a fulfilment centre in Singapore during the year. This move aims to better service demand in the area, which is increasingly important for the brand.

Following the results, Barbour group managing director Steve Buck said: “Twelve months ago, we anticipated that global markets would be very challenging and made the decision to focus on high-quality, profitable sales.

“This strategy has worked very well in generating strong demand for the brand with increased efficiency and profits. This approach is very much in line with the long-term view taken by the business.

“While demand for our brands has remained strong, there has been a general retraction in the UK wholesale market with several major retail and ecommerce closures.

“We have worked closely with all of our wholesale partners to focus on building quality, profitable sales during this time. This strategy has also set the brand up very well for future growth, which we are already beginning to see.”

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The beauty retailer has agreed to pay Chrysalis a “non-material sum”, which is less than 1% of Chrysalis’s stock market value, according to the investor, though the amount was not disclosed.

Revolution said the “confidential” settlement was reached without any admission of liability from either firm and that Chrysalis will not be taking any legal claim forward.

Chrysalis, which invests in public and private companies, said it would take legal action against Revolution Beauty last year, with potential claims for more than £45m.

It bought shares in Revolution Beauty when it floated in July 2021 for over £40m before selling its holding in late 2022 for a fraction of its initial investment at £5.7m.

Revolution Beauty’s crisis began in 2022 when its auditors refused to sign off on its accounts for the previous year, with shares in the firm sent tumbling.

Months later, Revolution found itself embroiled in a battle with Boohoo, which owns more than a quarter of the company’s shares, over demands to replace its leadership team.

The troubles led to the resignation of its co-founder, Adam Minto, as well as former chief executive Bob Holt and chairman Derek Zissman.

When it bought into the beauty retailer, Chrysalis claimed “the original share purchase was made on the basis that information provided to the company by Revolution prior to the company’s purchase of the shares in Revolution, and during the period in which the shares were held prior to their sale, contained misstatements and material omissions”.

Revolution denied the allegations, saying that it “strongly contested” the claims while Chrysalis did not file any claim with the court before the settlement was agreed.

Under new chief executive Lauren Brindley, Revolution Beauty is pressing ahead with a plan to revive the business.

In November, the group plunged into loss in its first half on the back of a 20% sales plunge in what Brindley called  “a year of transformation”.

The beauty brand made a £10.9m pre-tax loss in the half to 31 August, down from a £400,000 profit last year as sales plunged to £72.4m, which it blamed on the planned simplification of its product portfolio, the discontinuation of unproductive SKUs, and “significant” stock clearance activity.

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