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 -30 April
AIS names interim director of fashion, toys and sport
Associated Independent Stores (AIS) has announced the appointment of Devlin Lindeque as its interim director of fashion, toys and sports. He brings over 20 years of experience to the association, including Disney, Mothercare, and Merlin Entertainments, having led buying and design teams, as well as constructing and developing ranges across…
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30 April
Lidl announces plans to open hundreds of new sites
Lidl has unveiled plans to open hundreds of new stores across the country, creating thousands of new jobs. This follows a year of significant investment in its infrastructure to further strengthen operations, during which Lidl opened its largest global warehouse in Luton. The discounter grocer has also been optimising and…
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30 April
Frasers buys back Matches IP from administration
Frasers has announced that it has reached an agreement with the administrators of Matches Fashion to acquire certain intellectual property for an undisclosed sum. Under the terms of the transaction Frasers Group has granted a licence to the administrators that allows them to sell stock owned by Matches. All the…
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30 April
Barclay family’s Abu Dhabi backers plan Very sale
The Barclay family’s Gulf-based backer Redbird IMI is reportedly planning a sale of Very Group as it seeks to unwind a £1.2bn refinancing of the family’s debts, according to the Times. RedBird IMI, the joint venture that is part-funded by Sheikh Mansour bin Zayed bin Sultan al-Nahyan and American private…
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30 April
Fifth of Ocado shareholders vote against CEO bonus
Amost a fifth of Ocado shareholders voted against a new pay scheme that would see co-founder and CEO, Tim Steiner, receive a bonus share award of £14.8m. Some 19% of votes cast at the retailer’s annual general meeting opposed the new pay scheme, which would be awarded to Steiner if…
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30 April
Shop Price annual inflation falls to 0.8% in April
Shop Price annual inflation eased to 0.8% in April, down from 1.3% in March, as it starts to show “signs of normalising”, according to the latest figures from the BRC-Nielsen Index. Non-Food entered deflation at -0.6% in April, down from 0.2% in the preceding month. This is below the three-month…
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30 April
Morrisons completes £2.5bn petrol forecourts sale to MFG
Morrisons has successfully closed the sale of 337 Morrisons’ petrol forecourts and more than 400 associated sites on the Morrisons’ car parks to Motor Fuel Group (MFG) for £2.5bn. The transaction, which was originally announced in January, forms a new strategic partnership between the two companies. As part of the…
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30 April
Card Factory profits soar 25% amid strong store trading
Card Factory has welcomed a strong year of trading, as pre-tax profit soared 25% to £65.6m in FY24, largely boosted by its store performances.Over the period, revenues rose by 10.3% to £510.9m, with total store revenue up by 8.7%, including contribution from 26 net new store openings during the year.…
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29 April
Today’s news in brief-29/4/24
Ted Baker’s European operations are on the brink of administration, endangering 149 jobs. The potential collapse affects stores and concessions in the Netherlands, Belgium, and Spain. This development follows the appointment of restructuring firm Teneo as administrator of Ted Baker by its owner, Authentic Brands Group, after a £210m acquisition…
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29 April
BP appoints convenience retail VP and senior deal manager
BP has announced the appointment of Jo Hayward as VP of mobility and convenience retail and Natalie Cattermole as senior deal manager, as the group looks to grow its UK retail arm. Hayward, the former VP for convenience in Europe at BP, will be replacing Sonya Adams who has been…
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