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 -24 April
Dobbies appoints new board advisor for its restaurant business
Dobbies, the UK’s garden centre retailer, has appointed hospitality professional Robert Cook as a board advisor to support the strategic development of its restaurant business. Cook has led a number of the UK’s hospitality and leisure businesses including TGI Fridays, Malmaison and Hotel du Vin, and Virgin Active. Dobbies has…
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24 April
Kering revenues dip 11% to €4.5bn in Q1
Kering’s revenues were down 11% to €4.5bn (£3.8bn) for the first quarter of 2024 as Gucci, Yves Saint Laurent and Bottega Veneta failed to perform positively. The group’s revenue from the directly operated retail network fell 11% on a comparable basis, as a result of lower store traffic. During the…
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24 April
John Lewis finance director to step down
The John Lewis Partnership has announced its executive director of finance, Bérangère Michel, is stepping down from the role later this year after deciding to pursue future career options outside of the business. Michel has spent the past 16 years in various senior leadership positions across retail, supply chain and customer…
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24 April
Gear4music FY performance in line with expectations
Gear4music has revealed that its FY24 revenues and EBITDA are in line with market expectations, with revenues hitting £144.1m for the 12 months ended 31 March 2024. The music retailer also posted adjusted EBITDA of £9.8m, adjusted profit before tax of £1.3m, and pre-IFRS 16 net debt of £11.6m. According…
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23 April
Today’s news in brief-23/4/24
UK’s grocery regulator is closely monitoring Tesco’s imposition of online supplier fees akin to Amazon. The Grocery Code Adjudicator initiated assurance processes after Tesco’s move to charge extra for online sales last year. Tesco claims rising online operation costs prompted the fee, starting at 12p per branded item and 5p…
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23 April
M&S trials postal donations bags with Oxfam
M&S is asking the public for the first time to donate their “unwearable” clothing, alongside their wearable clothing, through the trial of a free postal donation service, in partnership with Oxfam. It is estimated that UK homes contain 1.6 billion items of unworn clothing which have the potential to be…
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23 April
Primark launches click and collect amid soaring profits
Primark has revealed that it is launching a new click and collect service to all of its British stores by the end of 2025. It comes as its parent company Associated British Foods (ABF) saw its pre-tax profit jump 37% to £881m for the 24 weeks ended 2 March 2024.…
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23 April
Supermarket sales jump 3.3% as inflation continues to fall
Overall take-home grocery sales rose by 3.3% over the four weeks to 14 April as grocery price inflation also continued to fall to 3.2%, according to the latest data from Kantar. Kantar said the decline has been aided by a significant increase in promotional spending, with items bought on offer…
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23 April
Grocery regulator to monitor Tesco over fees for online suppliers
The UK’s supermarket regulator is reportedly keeping a close eye on Tesco since it imposed a fulfilment fee for online suppliers that is similar to Amazon, according to the Times. The Grocery Code Adjudicator has been monitoring the supermarket chain and put in place “assurance” processes after it stated last…
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23 April
THG sales rise 4.5% in Q1 amid ‘standout’ beauty performance
THG has seen overall sales “continue to strengthen” in its first quarter, as group revenues rose by 4.5% to £455m, with progression made in each of the last five consecutive quarters.Its group sales were largely boosted by a “standout performance” in THG Beauty, where sales soared by 11.1% to £267.6m…
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