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 -3 July
B&Q appoints new director of responsible business
B&Q has announced the appointment of Joanna Gluzman as director of responsible business. Gluzman has over 25 years of experience spanning ESG and investor relations, most recently at PZ Cussons, a FTSE 250 FMCG company as chief sustainability officer overseeing the sustainability strategy and implementation internationally. She has also held…
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2 July
Today’s news in brief-2/7/24
Shop price inflation in the UK saw a significant slowdown in June, dropping to 0.2% from 0.6% in May, marking the lowest rate since October 2021. This decline was driven by a 1% decrease in non-food prices and a deceleration in food inflation to 2.5%. Helen Dickinson of the BRC…
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2 July
M&S launches clothing repair service
Marks and Spencer has recently announced it will offer a dedicated clothing repair service for the first time. With new insight from M&S revealing only 10% of the population is confident enough to repair clothing themselves and 60% of consumers looking for retailers to offer more services which support them…
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2 July
Virgin Wines makes three leadership appointments
Virgin Wines, one of the UK’s largest direct-to-consumer online wine retailers, has announced three key senior management appointments to bolster its leadership team. Danny Cooper has been appointed chief information officer (CIO) having worked in IT roles for almost three decades. Initially holding Infrastructure and Architecture roles within JP Morgan…
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2 July
Sainsbury’s Q1 sales jump 2.6% as it hails market share gains
Sainsbury’s has revealed that its retail sales rose 2.6% and also hailed its market share gains during the 16 weeks ended 22 June 2024. Sales at Sainsbury’s alone rose 4.2%, with grocery sales up 4.8% but its general merchandise and clothing sales dropped 4.3%. The retailer stated that the sales drop…
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2 July
Shop price inflation eases to 0.2% in June
Shop price annual inflation eased to 0.2% in June, down from 0.6% in May, the lowest rate of price growth since October 2021. According to the BRC and NielsenIQ shop price index, this figure is below the 3-month average rate of 0.5%. Non-food fell 1% in June, down from 0.8%…
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2 July
JD Sports COO steps down
The COO of JD Sports, Sherilyn Paterson, has stepped down amid her retirement after spending 12 years at the group. In a post on LinkedIn, Paterson wrote: “Today is my first day of retirement after an amazing 12 years with the JD group as part of the executive team and this…
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2 July
Shoe Zone posts profit warning amid continued cost pressures
Shoe Zone has reported that it now expects adjusted profits before tax to be “no less than” £10m for the year ending on 2 October, due to continued cost pressures. The announcement elaborates on the shoe retailer’s 12 March AGM Statement, which also maintained that Shoe Zone continued to experience…
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1 July
Today’s news in brief-1/7/24
Several firms, including Gordon Brothers led by Mark Newton-Jones, are bidding to rescue The Body Shop’s UK business after its collapse into administration earlier this year. Alteri and Modella Capital are also considering bids. The retailer, known for its beauty products, faced financial difficulties despite a recent takeover attempt. Administrators…
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1 July
Mango Teen opens first UK store in Carnaby Street
Mango Teen, the dedicated youth offering by international fashion retailer Mango, has opened its first store in the UK in Soho. Mango Teen has opened at 14-16 Foubert’s Place, in 2,475 sq ft off Carnaby Street. The store has been designed with its Mediterranean-inspired New Med concept, which embodies the…
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