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.
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Aug- 2024 -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…
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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…
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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…
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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…
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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…
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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…
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14 August
Fanatics renews long-term FA partnership amid surge in merch sales
Global digital sport platform Fanatics and The Football Association (FA) have announced a long-term renewal and expansion to their wide-ranging retail, e-commerce and merchandising partnership, following record England merchandise sales during Euro 2024. Under the terms of the expanded partnership, Fanatics will retain e-commerce rights with the FA and run…
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13 August
Today’s news in breif-13/8/24
UK wage growth has fallen to a two-year low, with wages excluding bonuses growing by 5.4% in the three months ending June 2024, the lowest since 2022, according to the Office for National Statistics. Factoring in inflation, wage growth drops to 3.2%. Public sector pay rose by 6%, while private…
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13 August
UK wage growth falls to two-year low
Wages excluding bonuses in the UK grew by 5.4% in the three months ended 30 June 2024, the lowest growth for two years, according to data from the Office for National Statistics (ONS). Furthermore, when price rises, measured by inflation, are factored in wages only grew by 3.2%. Alongside this,…
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13 August
Pandora reports 15% organic growth in Q2 2024
Pandora has reported a 15% increase in Q2 2024 organic growth to DKK 6.77bn (£744m), comprising Like-for-like (LFL) growth of 8%, network expansion of 6% and 1% phasing of sell-in to partners and other. The group’s operating profit (EBIT) also increased from DKK 1.18bn (£134.9m) to DKK 1.33bn (£152m). However…
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