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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Mar- 2024 -1 March
The Body Shop to close 75 stores and cut over 400 jobs
The Body Shop will close 75 more stores across the UK in the coming weeks, with 489 jobs set to be lost, according to administrators at FRP Advisory. The firm said it would “support all impacted staff with claims to the Redundancy Payments Service”. Some 116 stores will continue trading…
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1 March
Asda co-owner to step back after ‘fixing’ supermarket
Asda co-owner Mohsin Issa has announced that he is set to step back from running the business after “fixing” it. Speaking to the BBC, Issa said that he was carrying out a “reset” of the retailer before hiring a new CEO. Despite the supermarket’s £5bn debt pile Issa insisted he…
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1 March
Stuart Hill leaves Matches for DHL CEO role
Stuart Hill, COO of Matches Fashion, is set to leave his role to join DHL UK as its new CEO. In his new role, Hill will lead the company through the next phase of growth and oversee the opening of the company’s second hub in Coventry later this year. Prior…
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1 March
Sainsbury’s to axe 1,500 roles amid cost-cutting programme
Sainsbury’s has announced that it will reduce the number of roles across the business by approximately 1,500 as part of its ‘Save and Invest to Win’ programme. The news comes as the supermarket has outlined proposals that aim to adapt the business’ strategy earlier in February. According to the proposals,…
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Feb- 2024 -29 February
Today’s news in brief-29/2/24
UK retail destinations saw a decline in footfall by -2.2% overall for the month. The start of February was marked by rail strikes and disruptions, though footfall initially rose by +2.9%. The half-term holiday in the third week contributed to a rise in footfall of +8.3% from the previous month,…
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29 February
Majestic named exclusive UK distributor for Blake Lively’s drinks
Majestic has become the exclusive distributor of actress and entrepreneur Blake Lively’s drinks brands – Betty Buzz and Betty Booze – across England, Scotland and Wales. The new partnership will see the retailer add seven products from the Betty Buzz premium sparkling soda and Betty Booze ready-to-drink ranges to its…
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29 February
Tesco launches Accelerator Programme for developing brands
Tesco has welcomed 27 up-and-coming brands to its Welwyn Garden City campus as it launched its new innovation initiative, the Accelerator Programme. The programme will provide support to some innovative brands in the UK, with the suppliers benefiting from the opportunity to be stocked in Tesco stores and online, and…
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29 February
Hammerson rental income jumps 6% amid footfall boost
Hammerson has reported a 6% increase in like-for-like gross rental income following a record year of leasing with 306 deals. As a result, Hammerson also saw a 11% increase in its adjusted earnings growth to £116m. Footfall across its retail locations was also up 3% with LFL sales in the…
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29 February
Half-term boost fails to save Feb footfall
Half-term failed to save footfall figures in February as it declined by -2.2% across UK retail destinations for the second consecutive month, largely driven by a drop in footfall of -3.5% in high streets, according to the latest figures from MRI Springboard. MRI said the start of the month was…
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29 February
Central Co-op calls on gov to address ‘alarming rise’ in retail crime
Central Co-op is encouraging its members and customers to write to their local MPs and advocate for legislative reform that will help to criminalise assaults on shopworkers. It comes as the British Retail Consortium (BRC) recently reported that incidents of violence and abuse in retail environments have increased to over…
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