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 -3 June
‘We should have overtaken Waitrose already’, says M&S boss
M&S CEO Staurt Machin has argued that the company should have “already overtaken” Waitrose following its latest strong results. The company revealed that its profits had risen 41% to £673m while sales increased in both food and fashion departments. In an interview with the The Telegraph, Machin said: “You could…
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3 June
Pashley Cycles appoints new CEO
Pashley Cycles has appointed Andy Smallwood as its new chief executive with effect from 3 June. Smallwood joins Pashley Cycles with over two decades of experience in the cycle industry. He previously worked as chief executive for seven years at Ribble Bikes and prior to that as managing director of…
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3 June
Frasers appoints ex-FRC CEO as NED
Frasers Group has announced the appointment of Sir Jon Thompson, former CEO of Financial Reporting Council, as non-executive director. His expertise in corporate governance, reporting and audit, and experience in large-scale project management, will strengthen the execution of Frasers’ long-term growth strategy and continue to position the group as a…
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3 June
Superdry landlord drops challenge to restructuring proposal
M&G, landlord of Superdry’s London flagship store, will not formally seek to block a restructuring proposal, Sky News has reported. It is understood that Superdry received a reprieve after M&G backed down from a challenge to the struggling fashion chain’s rescue plan. As a result, M&G has decided not to…
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May- 2024 -31 May
Today’s news in brief-31/5/24
UK supermarkets experienced a 3.3% sales boost in May, attributed to a brief period of warm weather which saw increased sales in items such as ice cream, cider, pre-mixed alcoholic drinks, and mineral water. Visits to stores increased by 2.8%, adding 14.3m visits compared to the previous year, while online…
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31 May
Tesco signs new wind farm deal to accelerate renewable energy projects
Tesco has announced it has signed a new deal to take 150GWh of power from Stranoch wind farm every year. The wind farm, being built by EDF Renewables UK, has started construction this week and is due to become operational in 2026 generating 102MW, with 20 turbines located on the…
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31 May
Ribble Cycles appoints new CEO
Ribble Cycles has appointed Sean Hastings as its new CEO, effective 1 July, 2024. He joins from B2C Group, where he grew the business internationally, becoming one of Europe’s top-rated water sports retailers. Prior to that, he was chief customer officer at River Island and ran its online business. He has…
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31 May
Supermarkets enjoy 3.3% sales boost in May
Total Till sales at UK supermarkets remained strong at +3.3% growth for the four weeks ending 18 May 2024, according to new data released today by NIQ. This is in line with figures reported last month (+3.4%) and is attributed to the brief period of hot weather during the week…
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31 May
Burberry CEO forgoes bonus amid PBT slump
Burberry CEO Jonathan Akeroyd has missed out on a bonus after the luxury brand reported a pre-tax profit slump to £383m from £636m in the year ended 30 March. This comes as revenues at the group fell to £2.96bn from £3.094bn in the prior year, as comparable store sales dropped…
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31 May
JD Sports PBT dips 8% amid ‘challenging market’
JD Sports has seen its profit-before-tax fall 8% down to £912.4m for the year ended 27 January 2024. Despite this, the company has still stated it saw “strategic progress in a challenging market”. As a result, its revenue rise 2.7% from £1.13bn in the period last year up to £1.4bn…
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