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 -13 June
Sainsbury’s launches EV charging loyalty scheme in UK first
Sainsbury’s has begun rolling out its fast EV charging service, Smart Charger, with which customers will be able to collect Nectar points, making it the first EV charging service in the country to offer a national loyalty scheme. The retailer announced that smart charger customers with active Nectar accounts will…
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13 June
Kingfisher unveils new decarbonisation targets for vendors
B&Q owner Kingfisher has unveiled “ambitious” decarbonisation targets for its vendors as part of an ongoing plan to reduce carbon emissions.The company said it will work alongside the suppliers to hit three levels of common target, depending on the scale of their impact on Kingfisher’s Scope 3 emissions. The targets…
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12 June
Today’s news in brief-12/6/24
The UK economy stalled in April 2024, showing no growth after a 0.4% increase in March, as wet weather significantly dampened consumer spending, according to the Office for National Statistics. Services output did rise by 0.2% for the fourth consecutive month and grew by 0.9% over the three months to…
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12 June
Derbion to welcome new B&M store in July
Bargain and variety retailer B&M will be opening a 25,503 sq ft store at Derbion on Friday 26 July. The arrival follows an announcement that Debrion is investing over £5m in three new concept stores for JD, New Look and Ann Summers, with Ann Summers opening its doors last month. …
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12 June
Economy stalls in April due to wet weather
The UK economy stalled in April showing no growth as wet weather dampened consumer spending, according to the latest figures from the Office for National Statistics. Monthly real gross domestic product (GDP) is estimated to have shown no growth in April 2024, following growth of 0.4% in March 2024. It…
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12 June
Euros to boost retail spending, BRC finds
England and Scotland’s involvement in this year’s euros are likely to net retailers a “vital” spending boost, according to polling from the British Retail Consortium. A new poll of 2,000 British shoppers suggests that the country’s love of football will translate into additional purchases. This will come after weak retail…
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12 June
Ex-BHS directors fined £13m over ‘wrongful trading’
Two former directors of department store chain BHS have been ordered to pay at least £13m to creditors over their involvement in the collapse of the retailer in 2016. High Court judge Justice Leech has fined Lennart Hennington and Dominic Chandler £6.5m each after finding them liable for wrongful trading…
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12 June
Superdry creditors vote through restructuring plan
Superdry has revealed that its creditors have voted overwhelmingly in favour of its restructuring plan. The company stated 99% of its creditors voted for the plan which now only requires shareholder approval. The plan will involve rent reductions at 39 stores, delisting from the stock market and an equity raise…
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12 June
Castore opens new site at Centre:mk
Sportswear brand Castore has announced its regional debut into Milton Keynes with the launch of its new store at Centre:mk. Set to open on Silbury Arcade in late June, Castore’s 865 sq ft location will be one of the brand’s first new store concepts designed by Ink Associates. The centre:mk…
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12 June
DFS slashes FY guidance amid Red Sea disruption and weak demand
DFS has downgraded its full-year guidance amid “challenging” consumer demand and ongoing disruption issues in the Red Sea, which have caused delivery delays and higher freight costs. In its latest update, the company said it now expects profit-before-tax to be in the range of £10m to £12m in the full-year, down…
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