News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Jun- 2024 -21 June
BoE decision a ‘blow for Gen Z spending’, says RSM UK
The economic impact of high interest rates is set to hit Gen Z spending for the next 12 months, “prolonging the challenge for retailers and hospitality businesses as discretionary spend gets squeezed”, according to accountancy firm RSM. A survey of 2,000 consumers conducted on behalf of RSM UK shows Gen…
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21 June
Card Factory to engage shareholders after AGM revolt
Card Factory has announced that it will engage with shareholders after a revolt over the reelection of its chair. The greetings card retailer saw nearly a quarter of shareholders vote against the reelection of Paul Moody. Moody joined the business in July 2020 as executive chair and saw 24.87% of…
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21 June
UK retail sales jump 2.9% in May
UK retail sales volumes rose by 2.9% in May 2024, following a fall of 1.8% in April 2024, according to the Office for National Statistics (ONS). Sales volumes rose across most sectors, with clothing retailers and furniture stores rebounding following poor weather in April. More broadly, sales volumes rose by…
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21 June
Consumer confidence up three points in June, Gfk finds
Consumer confidence increased by three points in June to -14, the latest Gfk consumer confidence index has revealed. According to the index, the measure for the general economic situation of the country during the last 12 months is up seven points at -32. This is 22 points higher than in…
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20 June
Today’s news in brief-20/6/24
Sainsbury’s announced the sale of its banking arm’s personal loan, credit card, and retail deposit portfolios to NatWest, scheduled for completion next year. The sale, which excludes Sainsbury’s Bank’s commission income businesses like insurance and travel money, will involve Sainsbury’s paying NatWest £125m to take over the portfolios. Sainsbury’s plans…
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20 June
Footasylum to open first Aberdeen store
Footasylum has announced that it will be opening a new store in Aberdeen’s Union Square shopping centre. The new 7,000 sq ft store will open to the public in early September, with an exact date to be confirmed in due course. It will be located on the ground floor of…
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20 June
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first time…
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20 June
Lidl to hold contractor events as it seeks new stores
Lidl is set to host a series of events aimed at forging new relationships and engaging with existing partners, as it looks to open hundreds of new stores in Great Britain. The events are set to take place from July in Newcastle, Glasgow, Birmingham and Southampton. Hosted by members of…
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20 June
Starmer reaffirms commitment to crackdown on shop worker abuse
Labour leader Keir Starmer has reaffirmed the party’s commitment to cracking down on abuse against shop workers should his party emerge victorious at the general election. Starmer reiterated the promise from his party’s manifesto to introduce a specific offence for assaults on store staff. He made this commitment to a…
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20 June
Sainsbury’s to sell banking portfolios to NatWest
Sainsbury’s has agreed to sell its banking arm’s personal loan, credit card and retail deposit portfolios to NatWest, in a deal that is set to complete next year. Under the deal, Sainsbury’s Bank will pay NatWest £125m to take on the portfolios. The sale will not include Sainsbury’s Bank’s commission income…
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