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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May- 2024 -13 May
N Brown named one of The Sunday Times Best Places to Work
N Brown Group has recently been named one by The Sunday Times Best as one of the best places to work in 2024. This is the first time that N Brown has entered the list from The Sunday Times, which recognises organisations with the highest rates of workplace engagement, happiness…
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13 May
Asda unveils plans for mixed-use redevelopment in North West London
Asda has unveiled plans for a mixed-use redevelopment of its 10-acre Park Royal site in North West London. The retailer has partnered with property developer Barratt London on plans to redevelop the Brownfield site which is currently home to its Park Royal Superstore. The proposal, which is subject to planning…
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13 May
Lidl GB ups staff pay for third time in 12 months
Lidl GB has announced that it is increasing pay for hourly-paid colleagues to a minimum of £12.40 across the country, up from £12, marking the third time it has increased staff pay in the past year. In London, colleagues will see entry level pay rise to £13.65, up from £13.55.…
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13 May
John Lewis appoints new fashion director
John Lewis has announced the appointment of Rachel Morgans as its new director of finance. Morgans is currently working as creative consultant to brands in the UK and US and will join the company in June 2024. She has almost 30 years’ of experience in the fashion industry and holding…
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13 May
Shein accelerates London IPO preparations
Shein is reportedly ramping up its move towards a London IPO after its attempt to float in New York faced regulatory hurdles, sources have told Reuters.One source told Reuters that Shein now plans to update China’s securities regulator on changing the IPO venue and file with the London Stock Exchange…
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13 May
Retailers call for overhaul of ‘broken’ apprenticeship levy
Large retailers such as John Lewis, Tesco and M&S have called for the apprenticeship levy to be overhauled as the current system is “a complete waste of money”, This is Money has reported. It is understood that the retailers believe the rules around the apprenticeship levy limit them from using…
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13 May
The Very Group appoints Nadhim Zahawi as non-exec chair
The Very Group, which operates digital retailers Very and Littlewoods, has appointed former senior government minister and MP for Stratford-on-Avon Nadhim Zahawi as non-executive chair and board member. Zahawi, who recently announced he will stand down as an MP at the next general election, will replace current non-executive chair Aidan…
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10 May
Today’s news in brief-10/5/24
The UK economy has emerged from recession with a growth of 0.6% in the first quarter of 2024, surpassing economist expectations. This growth was primarily driven by consumer-facing services, which expanded by 0.6% after a decline in the previous quarter. Notably, retail trade played a significant role in this recovery,…
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10 May
Footasylum to upsize location at Metrocentre
Footasylum is upsizing its location at the top five super regional malls Metrocentre. The retailer is set to increase its presence by 25%, taking a 12,375 sq ft unit enabling it to stock a larger range of streetwear, sportswear, and footwear for men, women, and kids. This relocation and notable…
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10 May
John Lewis cut 3,800 jobs in past year to reduce costs
The John Lewis Partnership has revealed that it cut 3,800 roles across the company in an effort to reduce costs. The number of employees at the Partnership fell to 70,500 at the end of January down from 74,300 the previous year. As first reported by the Telegraph, the job losses…
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