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.
-
Aug- 2024 -15 August
Today’s news in brief-15/8/24
The UK economy showed resilience with a 0.6% growth in the second quarter of 2024, despite a stagnant June where GDP showed no growth. The Office for National Statistics reported that this growth follows a 0.7% increase in the first quarter. The service sector played a crucial role, expanding by…
Read More » -
15 August
Aldi to retire click-and-collect service
Aldi has revealed it will be discontinuing its click-and-collect offering at the end of this week on 18 August. According to the group, the offering was a trial and had always been under review. By scrapping the service, Aldi said it will be able to focus on running its stores…
Read More » -
15 August
UK economy grows by 0.6% despite June flatline
The UK economy has grown by 0.6% between April and June, in part boosted by the service sector, according to the latest figures from the Office for National Statistics. The second quarter growth follows a GDP rise of 0.7% in the first quarter of the year. Despite this, GDP showed no…
Read More » -
15 August
Victoria’s Secret appoints Hillary Super as new CEO
Victoria’s Secret has appointed Hiillary Super as its new chief executive officer and a member of the board, effective 9 September 2024. Super succeeds Martin Waters in both roles. Timothy (TJ) Johnson, VS&Co’s chief financial and administrative officer, will serve as interim CEO effective today through 8 September 2024. Meanwhile,…
Read More » -
15 August
Amazon cleared for delivery drone trial
Amazon has been given permission from the Civil Aviation Authority (CAA) to trial drones beyond a human controller’s line of sight in the UK, paving the way for delivery drones. Kirkwall airport in the Orkney islands will be one of the projects, testing how drones and other aircraft might operate…
Read More » -
14 August
Today’s news in brief-14/8/24
Inflation in the UK increased to 2.2% in July 2024, up from 2% the previous month, driven by less significant declines in energy prices compared to a year ago. The Office for National Statistics (ONS) reported that while gas and electricity prices fell by 7.8% and 6.8% respectively from June…
Read More » -
14 August
Avon UK owner files bankruptcy to avoid $1bn debt
The owner of Avon in the UK, Europe and Latin America, Avon Products Inc (API), has filed for Chapter 11 bankruptcy as it tries to offload $1bn worth of debt, according to The Telegraph. The debt also includes millions of dollars in liabilities linked to lawsuits alleging that talc in…
Read More » -
14 August
Inflation rises to 2.2% due to energy prices
Inflation increased for the first time this year in July, as energy prices fell less than they did a year ago, according to the latest figures from the ONS. Prices rose 2.2% in July, up from 2% the previous month, but came below analysts previous estimates of 2.3%. Although monthly…
Read More » -
14 August
John Lewis to cut 150 roles as part of realignment plan
John Lewis is set to cut more than 150 jobs as part of a realignment plan that will see it make a multi-million pound investment to simplify in-store operations, including investments into new technology and realigning staffing. As part of the changes, 153 roles, or 1% of the total workforce, will…
Read More » -
14 August
Amazon opens £500m fulfilment centre in Leeds
Amazon has officially opened a £500m “state-of-the-art” fulfilment centre at Gateway45 in Leeds, which will employ more than 2,000 people by November this year. The group has already begun recruiting for a wide range of roles, including engineers, HR, IT specialists, health and safety, and finance specialists. This is in…
Read More »
