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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Jul- 2024 -4 July
Today’s news in brief-4/7/24
The European Commission is taking a decisive step to tackle a surge in unsafe and substandard products flooding EU markets from Chinese online retailers like Temu and Shein. Concerned by a 50% increase in dangerous product reports last year, exceeding 3,400 cases, the Commission plans to scrap the current €150…
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4 July
Castore opens new flagship shop at centre:mk
Sportswear brand Castore has recently announced the official opening of its regional flagship store at centre:mk. Located on centre:mk’s premium Silbury Arcade, Castore’s investment into centre:mk marks a new regional retail endeavour for the brand. Occupying 865 sq ft, the new regional flagship store is home to the brand’s complete…
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4 July
EU proposes new custom duties to curb Chinese imports
The EU has reportedly drawn up plans to impose custom duties on cheap products from Chinese online retailers such as Temu and Shein in a bid to dampen a rise in what it has called “substandard items”, the Financial Times has reported. The FT reported that The European Commission plans…
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4 July
Bezos to sell over $4bn of Amazon shares
Amazon founder Jeff Bezos is planning to sell more than $4bn (£3.2bn) of his shares in the company, as the stock hit a new record of $200.43 (£157.13) on Tuesday (2 July 2024). The news also comes after it was revealed that Bezos would sell another 25 million shares, raising…
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4 July
M&S appoints former Aldi MD and Morrisons director to food team
M&S has announced the appointments of Kara Greatorex as its new chief commercial officer and Jon Downes as supply chain and commercial operations director. Greatorex had been at Aldi for 15 years working across a number of roles including buying director and managing director for stores. She joins M&S on…
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4 July
Tesco staff to receive £30m pay out from share scheme
More than 20,000 Tesco employees are set to receive a £30m bumper pay out after the strong performance of the Tesco Save as You Earn colleague share schemes. The windfall is created by the strong growth of the Tesco share price, which reached £3.06 earlier this week. Employees who joined…
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3 July
Today’s news in brief-3/7/24
JD.com is reportedly considering a bid for parcel delivery company Evri, progressing to the second stage of bidding after making a non-binding offer last month. Competing companies include InPost and Cainiao, Alibaba Group’s logistics arm, as well as Apollo Global Management. Evri, formerly Hermes, has been exploring options including a…
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3 July
Kiko Milano to expand presence at Trafford Centre
Italian makeup brand Kiko Milano has announced that it is set to open a permanent store at Trafford Centre on 26 July. Since its inception in 1997, Kiko has become known for its “innovative” products and formulations, making makeup accessible to a global audience. The brand has traded with Trafford…
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3 July
JD.com considers Evri bid
Chinese online retailer JD.com is reportedly considering a bid for parcel delivery company Evri. It is now thought to be in the second stage of bidding after tabling a non-binding offer last month, according to Reuters. Other companies involved in the process include Polish parcel locker firm InPost and Alibaba…
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3 July
M&S to open flagship stores in Bath and Bristol
Marks and Spencer has revealed plans to open new flagship stores in Bath and Bristol as it looks to cement its offering around the UK. The move will see it return to Bristol city centre with a brand-new 80,000 sq ft flagship full-line store at Cabot Circus. The store is…
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