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 -13 August
Sainsbury’s sees biggest market share gain since 1997
Take-home sales at the grocers rose by 3.8% in the four weeks to 4 August 2024 compared with a year ago, as Sainsbury’s also saw its largest market share gain since 1997, according to the latest data from Kantar. Sainsbury’s market share increased 0.5 percentage points over the 12 weeks…
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13 August
Frasers Group non-exec director steps down
Frasers Group has announced that non-executive director David Brayshaw has retired from its board, effective from yesterday (12 August). Brayshaw was with the company for almost eight years. He has over 30 years’ of experience as a senior investment and commercial banker. David Daly, chair, said: “With over 30 years’ of…
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13 August
Shein scouts Midlands warehouse ahead of London IPO
Shein is reportedly looking to open its first British warehouse within the Midlands’ “golden logistics triangle” ahead of its anticipated £50bn listing on the London Stock Exchange, according to The Telegraph. It is understood that the fast fashion giant has sent a team of representatives to the UK to look…
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12 August
Today’s news in brief-12/8/24
Asda’s chair, Lord Rose, expressed embarrassment over the supermarket’s recent performance, citing a 5.3% drop in like-for-like sales and a market share decline from 14.8% to 12.7%. He suggested it might be time for co-owner Mohsin Issa to reduce involvement. Asda has initiated a £50m store upgrade and £30m investment…
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12 August
The Floor Room falls into administration, 201 jobs lost
The Floor Room, a sister company of Carpetright, has fallen into administration, causing a total of 201 redundancies across its operations. Administrators at PwC were brought in last Friday (9 August) and closed the retailer’s 34 John Lewis concessions, one stand-alone store in London, and its online operation “with immediate…
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12 August
Salt & Stone secures ‘significant’ investment from Humble Growth
Salt and Stone, the US-based body care brand, has announced it has secured a “significant investment” from investment firm Humble Growth. Founded in 2017 by former pro snowboarder Nima Jalali, Salt and Stone claims to sell one product every seven seconds and has profitably achieved consistent triple-digit year-over-year revenue growth.…
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12 August
Sainsbury’s urges gov to reform business rates
Sainsbury’s and USDAW have together called on the new government to deliver on its promise to reform business rates.The call follows research which “demonstrates that failure to act could lead to 17,300 retail closures over the next ten years”. The research, carried out by Development Economics, warned that an increase…
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12 August
Pret hands out body cams to staff amid rise in retail crime
Pret A Manger has dished out body cameras to its staff amid a surge in shoplifting cases and attacks on retail workers in the wake of the pandemic, according to the Telegraph. The coffee shop chain has reportedly launched a trial of the body-worn cameras in six of its London…
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12 August
Asda chair ‘embarrassed’ by recent performance
Asda chair Lord Rose has stated that he is “embarrassed” by the supermarket’s performance and indicated it could be time for co-owner Mohsin Issa to step back his involvement. Last week, the supermarket saw its like-for-like sales drop 5.3% in Q2 while its market share fell to 12.7%, it was…
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9 August
Today’s news in brief-9/8/24
Recent riots and protests across UK towns have significantly deterred shoppers, leading to a 4.8% decrease in footfall across high streets and retail destinations. Regional cities like North Yorkshire and the West Midlands were hardest hit, experiencing declines as steep as 12.9%. The Retail Trust has reported an increase in…
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