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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Jun- 2024 -19 June
Inflation hits 2% target for first time in three years
UK inflation has hit its target for the first time in almost three years, as consumer price inflation eased to 2% in the year to May, down from a rise of 2.3% the prior month. The Bank of England last hit the 2% target in July 2021. According to the Office…
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19 June
Amazon to invest £23m in skills training for UK employees
Amazon has announced that it is investing £23m in skills training for employees across the UK. The announcement comes as a new study by the retailer found that 61% of UK workers believe that on-the-job skills training or apprenticeships are more valuable for preparing people for work than traditional university…
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19 June
Games Workshop profits to hit £200m in FY results
Games Workshop has said it expects its profit-before-tax will hit “no less” than £200m in its full-year results, up from £171m the prior year. It comes as the group’s core revenues are expected to be not less than £490m in the 53 weeks ended 2 June 2024, up from £445m…
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18 June
Today’s news in brief-18/6/24
Supermarket sales in the UK saw a modest increase of just 1.0% for the four weeks to June 9, 2024, marking the slowest growth since June 2022. This sluggish performance is attributed to poor weather and falling inflation, with average shopper visits dropping slightly from 16.4 to 16.3 times compared…
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18 June
Tesco to improve chicken welfare standards
Tesco has recently announced that all the fresh chicken in its core ranges will be reared to higher welfare standards, providing customers with access to chicken grown with more space to perch and move around. The improvements, which will be completed by the first half of 2025, will see chicken…
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18 June
Decathlon UK posts £2m loss
Decathlon UK has revealed that it posted a loss of £2m for the year ended 31 December 2023. Alongside this, the company saw its turnover drop 5% with a 2.5% decrease for comparable stores. The retailer has put this decline down to three things; cost of living, market dynamics and…
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18 June
Michael Kors eyes further price hikes as UK sales nosedive
Michael Kors may resort to further price hikes after seeing the cost of basic materials rise, at the same time as it experienced a dramatic fall in UK sales last year, This is Money has reported. The luxury group’s sales performance, which was down by a tenth in the UK,…
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18 June
Supermarket sales slow in May as wet weather dampens visits
Take-home grocery sales rose by just 1.0% over the four weeks to 9 June 2024, marking the slowest increase since June 2022 as poor weather and falling inflation impacted the sector, according to the latest data from Kantar. Growth in footfall has also stalled, with the average shopper visiting a…
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18 June
Russell and Bromley appoints first creative director
Russell and Bromley has announced the appointment of Daniel Beardsworth-Shaw as its first creative director, as the footwear and accessories brand moves design in-house for the first time in its 140-year history. In his new appointment, Beardsworth-Shaw will join the executive leadership team leading brand and product direction reporting to…
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18 June
Superdry appoints global technology director
Superdry has appointed Dafydd Moore, a former IT boss at Halfords, as its new global technology director. Moore joins the group from the cycling chain, where he was group director of IT Strategy and Architecture, and before that, he was the global director of IT strategy, architecture and innovation at…
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