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 -8 April
Ocado faces shareholder revolt over proposed £15m bonus for CEO
Ocado could reportedly face a shareholder revolt later this month over a new pay scheme that includes a bonus of up to £15m for its CEO, The Financial Times has reported. According to the FT, it comes as the group is looking to change its pay plan as the previous…
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8 April
BRC boss warns greenwashing crackdown will discourage retailers
The CEO of the British Retail Consortium, Helen Dickinson, has warned that the CMA’s crackdown on greenwashing risks retailers scaling back their sustainability efforts. Dickinson’s comments to The Times follows the CMA’s announcement that it had secured “landmark changes” after the authority investigated the eco-friendly claims made by Asos, Boohoo…
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5 April
Today’s news in brief-5/4/24
Carpetright has enlisted the help of advisers to explore avenues for cutting costs amidst a challenging market. With weakening demand and intensifying competition, including from newer brands like Tapi, the company is considering options such as store closures. Over the past 14 months, Carpetright reported a decline in revenues to…
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5 April
Mango teams up with Victoria Beckham for new capsule collection
Mango is teaming up with Victoria Beckham to launch a new capsule collection, which will be available internationally on April 23, 2024. Victoria Beckham x Mango has been designed by Beckham and reflects the essence of the designer’s label, considered the “perfect blend of classic British luxury with a subtle…
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5 April
Logie Timber opens retail outlet near Forres
Scottish sawmill Logie Timber has opened a new retail outlet – Logie Timber Supplies – for woodwork and outdoor living at Logie Steading near Forres. Joining other independent retailers, the shop stocks a wide selection of clothing, outdoor equipment, gadgets and gifts. Alongside professional-grade tools and workwear, Logie Timber Supplies…
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5 April
Theo Paphitis slams gov’s ‘disappointing’ attitude towards retail
Theo Paphitis has called out the government’s “disappointing” attitude towards the industry’s importance, Retail Week has reported. It comes as Paphitis’ retail group, which comprises Ryman, Robert Dyas and Boux Avenue, achieved improved profitability in its full-year results. Paphitis said he had increased investment in his brands, whilst the government was…
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5 April
Majestic acquires Vagabond Wines
Majestic, the UK’s largest specialist wine retailer, has bought Vagabond Wines out of administration, saving nine of its wine bars from closure. The strategic acquisition provides clarity and job security for 171 Vagabond colleagues following a period of uncertainty, after the business went into administration last month. Following the acquisition,…
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5 April
Carpetright calls in advisers to cut costs
Carpetright has reportedly called in advisers to help it explore cost cutting measures as demand weakens and competition increases, according to The Times. The carpet retailer has appointed Teneo to consider a number of options which could include store closures. In recent years the company has struggled to deal with…
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5 April
Decathlon revenues reach €15.6bn in 2023
Decathlon reported a 1.1% revenue increase to €15.6bn (£13.3bn) for the financial year 2023. Digital sales accounted for 17.4% of the group’s revenue, while the group’s net result reached €931m (£798m). For the second year in a row the retailer decreased its absolute CO2 emissions by -10%, compared to -2%…
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5 April
The Works shareholders vote to exit main stock exchange
The Works has announced that its shareholders voted to transfer shares from the main market of London’s Stock Exchange to its sub-market AIM, as a cost-reducing measure. This latest move was the outcome of the retailer’s latest AGM that was held yesterday (4 April). Almost all shareholders – 99.7% –…
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