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 -17 June
Kingfisher names Bhavesh Mistry as new CFO
B&Q owner Kingfisher has announced the appointment of Bhavesh Mistry to the role of chief financial officer, with his exact start date to be announced in due course. The news comes as current CFO Bernard Bot will be retiring to “further pursue his non-executive career”. While Bot’s leaving date is…
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17 June
M&S appoints new stores director of West division
M&S has appointed Ikea’s UK&I country deputy retail manager Marsha Smith as the new stores director of the West division. Smith, who will take up the new role in September, has worked for Ikea since 2004 in various roles, including becoming president of the Canadian arm. She was also responsible…
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17 June
Peak international spending returns to pre-pandemic levels, ONS finds
Spending by international visitors in August, the traditional UK high season, has largely recovered since the Covid-19 pandemic, according to the latest figures from the Office for National Statistics (ONS) and Visa. The ONS found that places in the UK with the highest concentration of seasonal spend by international tourists…
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17 June
YNAP closes China operations
Yoox-Net-A-Porter has shut down its operations in China as it looks to focus on more profitable markets according to reports from The Financial Times. The company’s ecommerce platforms, which are run as a joint venture with Alibaba, will be liquidated. Owner Richemont stated that the decision was made as a…
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17 June
Superdry shareholders vote in favour of restructuring plan
Superdry has announced that its shareholders have voted in favour of its restructuring plan. The news comes after the group’s creditors also approved its proposed equity raise of £10m and delisting last week. The plan will involve rent reductions at 39 stores, delisting from the stock market and an equity…
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14 June
Today’s news in brief-14/6/24
The British Retail Consortium (BRC) has expressed support for the Labour Party’s manifesto, which aims to bring significant changes to benefit retailers and their customers. The BRC particularly appreciates Labour’s recognition of the flawed business rates system that stifles investment and results in numerous vacant retail properties. However, retailers are…
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14 June
Aldi announces planned refurbs for more than 30 stores
Aldi has announced that over 30 of its stores across the UK will undergo refurbishments this summer, with the supermarket set to invest more than £90m on store improvements throughout 2024. Over 100 stores located across the country are getting an upgrade this year – from Crewe to Cardiff and…
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14 June
Tesco maintains guidance and grows market share as Q1 sales rise
Tesco has revealed that its market share has risen to 27.6% in the 13 weeks ended 25 May 2024, as the group welcomed strong volume growth and rising sales over the period. It comes as the supermarket’s sales in the UK and Ireland rose by 3.6% to £14.3bn over the…
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14 June
BRC welcomes Labour manifesto
The BRC has welcomed Labour’s manifesto, saying it includes “many of the right policies” to help retail invest in the future, upskill its workforce, and play its part in growing the economy. If elected, Labour has promised to make changes that will have a “meaningful” impact to retailers and their…
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14 June
Wolford appoints new chief executive
Wolford has announced that Regis Rimbert has been appointed as the group’s new chief executive, succeeding Silvia Azzali. Rimbert has more than 20 years of leadership experience across the fashion and luxury sectors, spearheading transformative initiatives in retail, online, and international operations. Wolford said that with “pivotal roles at renowned…
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