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 -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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18 June
Frasers launches £80m share buyback scheme
Frasers Group has announced the launch of a new share buyback programme of up to £80m to reduce the share capital of the company. The group has entered into a non-discretionary arrangement with Barclays Bank PLC, acting through its investment bank, for a new share buyback programme. The programme will…
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17 June
Today’s news in brief-17/6/24
Superdry’s shareholders have approved a restructuring plan to rescue the company from financial difficulties. This plan, following the approval of creditors, includes a £10m equity raise and delisting from the stock market. Founder Julian Dunkerton will underwrite the equity raise, which the company believes will provide sufficient liquidity for its…
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17 June
Sainsbury’s completes Cobham superstore renovation
Sainsbury’s has recently completed the renovation project of its Cobham supermarket to upgrade the entire store. Over the past few months, employees in Sainsbury’s Cobham have been working to give the store a whole new look. The supermarket has been reimagined to showcase Sainsbury’s latest product offer and state-of-the-art format…
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17 June
Morrisons exec steps down after three months
The interim chief customer officer at Morrisons has stepped down from the role after only three months in the position. Darren Blackhurst’s appointment as interim chief customer and marketing officer was expected to lead to a permanent position, The Times has reported. However, Blackhurst stepped down from the supermarket’s board…
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17 June
Kingfisher names Bhavesh Mistry as new CFO
B&Q owner Kingfisher has announced the appointment of Bhavesh Mistry to the role of chief financial officer, with his exact start date to be announced in due course. The news comes as current CFO Bernard Bot will be retiring to “further pursue his non-executive career”. While Bot’s leaving date is…
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17 June
M&S appoints new stores director of West division
M&S has appointed Ikea’s UK&I country deputy retail manager Marsha Smith as the new stores director of the West division. Smith, who will take up the new role in September, has worked for Ikea since 2004 in various roles, including becoming president of the Canadian arm. She was also responsible…
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