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 -8 July
Today’s news in brief-8/7/24
James Timpson OBE, CEO of the Timpson shoe repair chain, has been appointed as the new Minister for Prisons, Parole, and Probation following Labour’s landslide victory in the general election. Timpson, who has been involved in the family business since his school days, has grown the company from 320 to…
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8 July
Asda publishes latest ESG report
Asda has today (8 July) published its 2023 Brighter Living Report – its fourth report updating on the progress made towards its Environmental, Social and Governance (ESG) targets in the last calendar year. In the “carbon” section, key updates from the report include continued reduction in carbon emissions (scope 1-3),…
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8 July
Superdrug FY23 pre-tax profits hit £111m
Health and beauty retailer Superdrug has revealed its pre-tax profits jumped 43% to £111.6m during the 52 weeks ended 31 December 2023. Superdrug said the positive figures have been driven by strong retail store performance, increased sales volume and continued own brand growth as sales increased 11% to £1.52bn. Superdrug…
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8 July
John Lewis to hire more shop floor staff
John Lewis executive director, Peter Ruis, has reportedly made plans to increase the shop floor staff count across the retail estate, The Sunday Times has revealed. It is understood that Ruis is also currently renegotiating contracts with fashion brands, which will see them pay the department store a lower rate…
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8 July
Asda scraps four-day work week trial
Asda has reportedly scrapped its trial of a four day work week after staff were left exhausted, according to reports from The Telegraph. Under the trial, employees in 20 of its stores worked a usual 44 hour work week in four days rather than five. However, many staff complained that…
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8 July
Huddled Group acquires 75% stake in Boop Beauty
Huddled Group has announced it has taken a controlling stake of 75% of the equity in Boop Beauty Limited, an e-commerce business specialising in surplus beauty and cosmetic products. Huddled said it will pay a “modest sum” for the stake roughly equivalent to the value of stock on hand, with…
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8 July
Labour appoints Timpson boss as new prisons minister
James Timpson OBE, CEO of the Timpson shoe repair chain, has been appointed as the new Minister for Prisons, Parole and Probation following Labour’s landslide victory in last Thursday’s general election. The current Timpson chief executive James began his journey in retail spending each holiday working in the family business…
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5 July
Today’s news in brief-5/7/24
The British Retail Consortium (BRC) has urged Keir Starmer and the Labour Party to swiftly address their campaign promises after their overwhelming victory in the general election, securing over 400 seats with a majority of around 170. The Confederation of British Industry (CBI) congratulated Starmer, stressing the importance of delivering…
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5 July
Aldi to introduce higher welfare standard for chickens
Aldi has announced that it is set to introduce new stocking density requirements for its fresh chicken suppliers, further improving the quality of life for livestock. The transition to the higher welfare standard, which will be complete by the end of October 2024, means that Aldi fresh chicken will have…
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5 July
Time for Starmer to ‘get down to business’, says BRC
The British Retail Consortium (BRC) has stated that it is time for Keir Starmer and the Labour Party to “get down to business” after he emerged victorious in the general election. BRC chair Helen Dickinson stated that the organisation now awaits details of how Starmer will take his promises forward.…
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