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.
-
Sep- 2024 -2 September
End of tax-free shopping hitting retail hard, warns Kurt Geiger CEO
Kurt Geiger’s CEO has warned that scrapping tax-free shopping for tourists is having a “massively negative effect” on retail in the UK. According to The Times, Neil Clifford said tourists were now travelling to other European countries for their shopping after the scheme was scrapped in 2021. Under the scheme,…
Read More » -
2 September
Oasis reunion boosts HMV sales
Music and entertainment retailer HMV said it has seen a “huge boost” in sales following the reunion of rock band Oasis after 16 years. The group saw a 526% rise in sales across the band’s full catalogue as they announced a series of live shows next year. Meanwhile, sales of their…
Read More » -
2 September
M&S urges Angela Rayner to approve Marble Arch shop revamp plans
M&S has urged Deputy PM Angela Rayner to give the go ahead to controversial plans for the demolition of its Marble Arch flagship store. According to This is Money, Rayner is currently reviewing the plans which were previously blocked by the Conservatives. M&S wants to demolish its Marble Arch site,…
Read More » -
Aug- 2024 -30 August
UK retail sales dipped 0.7% in August, BDO reveals
Total retail sales have increased by just 0.7% compared to August last year, according to this month’s High Street Sales Tracker from BDO. Despite reports signalling that retail prices had fallen for the first time in three years during August, sales growth figures are still running below the rate of…
Read More » -
30 August
UKRadiators.com appoints ex-Tiffany exec as operations director
UKRadiators.com, an online retailer based in Colchester, UK, has appointed Mark Webber, as its new operations director. Webber brings over 11 years of experience from Tiffany and Co., where he was “instrumental” in building its e-commerce operations. This strategic hire is part of UKRadiators.com’s growth plan. By improving supply chain…
Read More » -
30 August
Dobbies plans restructuring process
Dobbies, the UK’s biggest garden centre operator, is reportedly planning a financial overhaul which could result in store closures or steep rent cuts, according to Sky News. The group, which is controlled by Ares Management, an American investor, is believed to be working with advisers at FTI on a restructuring…
Read More » -
30 August
ACS warns of instances of smaller stores buying stolen goods from shoplifters
The Association of Convenience Stores (ACS) has reported that some smaller shops are buying stolen goods from professional shoplifters who work for criminal gangs, according to The Guardian. It comes as ACS members have experienced “very brazen and direct” incidents of shoplifting, with the typical items targeted being meat, cheese…
Read More » -
30 August
Birkenstock misses Q3 profit estimates
Birkenstock has missed its quarterly profit estimates as its gross profit margin dropped 220 basis points to 59.5% during the third quarter which ended 30 June. The group reached an adjusted EBITDA of €186m (£156m), up 15% year-over-year. However, adjusted EBITDA margin was 33%, down 140 basis points from 34.4%…
Read More » -
30 August
Tesco faces strike ballot as warehouse workers reject pay offer
Usdaw has launched a consultation ballot, asking Tesco workers at eight sites if they are ready to take a dispute over pay to industrial action. According to the trade union, members at all eight sites “overwhelmingly rejected” Tesco’s pay offer of between 2% plus £500 and 4.4%, depending on contract.…
Read More » -
30 August
Sainsbury’s acquires 10 Homebase stores
Sainsbury’s has announced that it has acquired 10 stores from HHGL Limited, trading as Homebase, for conversion into Sainsbury’s supermarkets. The acquired stores are in key target locations that will grow Sainsbury’s supermarket coverage across England, Northern Ireland and Scotland. Once they are converted, the shop floor area of the…
Read More »
