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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Apr- 2024 -23 April
Supermarket sales jump 3.3% as inflation continues to fall
Overall take-home grocery sales rose by 3.3% over the four weeks to 14 April as grocery price inflation also continued to fall to 3.2%, according to the latest data from Kantar. Kantar said the decline has been aided by a significant increase in promotional spending, with items bought on offer…
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23 April
Grocery regulator to monitor Tesco over fees for online suppliers
The UK’s supermarket regulator is reportedly keeping a close eye on Tesco since it imposed a fulfilment fee for online suppliers that is similar to Amazon, according to the Times. The Grocery Code Adjudicator has been monitoring the supermarket chain and put in place “assurance” processes after it stated last…
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23 April
THG sales rise 4.5% in Q1 amid ‘standout’ beauty performance
THG has seen overall sales “continue to strengthen” in its first quarter, as group revenues rose by 4.5% to £455m, with progression made in each of the last five consecutive quarters.Its group sales were largely boosted by a “standout performance” in THG Beauty, where sales soared by 11.1% to £267.6m…
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23 April
JD Sports to acquire Hibbett in £899m deal
JD Sports has today (23 April) announced the acquisition of US sports brand Hibbett for £899m. The deal represents an important strategic milestone for the retailer, accelerating its growth plans in North America and aligning with the group’s stated strategy of enhancing its presence in the US. Headquartered in Alabama,…
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22 April
Today’s news in brief-22/4/24
Investors from the Middle East and China are eyeing Selfridges following Signa’s financial struggles, leading to restructuring and insolvency. Central Group, a co-owner, is seeking to buy out Signa’s stake, with potential partnerships being explored with sovereign wealth funds and tycoons. Notable entities like Saudi Arabia’s Public Investment Fund and…
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22 April
Gloucester Quays footfall rises 7% in FY24
Gloucester Quays has revealed a record period of sales and footfall performance up 11% and 7% respectively. The outlet is also celebrating its 15th anniversary, going from a new destination in the South West when it launched in 2009, to establishing itself as the dominant retail and leisure hub in…
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22 April
Ocado shareholders call for switch to New York stock market
Ocado is reportedly facing pressure from shareholders to abandon the London stock exchange in favour of the New York market, according to The Telegraph. The outlet said that in recent weeks investors including a fund manager, have told management they would like to see the possibility of a listing in…
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22 April
Tesco boss to receive record £10m pay packet
Tesco’s chief executive Ken Murphy is set to receive a £10m pay this year, according to The Times. The unprecedented sum will come from his £1.4m salary, an annual bonus of up to £3.6m and a share-based bonus worth £5.1m in June. The payout, which is more than double his…
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22 April
Asda profits soar 24% to £1.1bn amid sales boost in FY23
Asda has seen adjusted EBITDA after rent soar by 24% to £1.078bn in FY23, largely driven by like-for-like sales growth and the impact of strategic acquisitions, after the group welcomed four consecutive quarters of growth.For the year ending 31 December 2023, like-for-like sales (excluding fuel) rose by 5.4%, which Asda…
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22 April
Middle East and Chinese investors eye up Selfridges
Investors from the Middle East and China are reportedly eyeing up Selfridges amid the financial troubles of its Austrian co-owner Signa, according to The Times. Thai conglomerate Central Group, a fellow co-owner, wants to buy out Signa’s remaining stake in the department store chain with another partner. Central group is…
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