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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Feb- 2024 -14 February
Today’s news in brief-14/2/24
The British Retail Consortium (BRC) reported a disturbing surge in violence and abuse against retail workers, with incidents increasing by nearly 50% to 1,300 per day in 2022/23 compared to the previous year. This rise occurred despite significant investments by retailers in crime prevention measures such as CCTV and security…
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14 February
The Works appoints two non-exec directors
The Works has announced the appointment of John Goold and Mark Kirkland as non-independent non-executive directors effective immediately. Goold is chief executive officer and Kirkland is chief financial officer at Kelso Group Holdings plc, an investment company that seeks to identify, engage and unlock trapped value in the UK stock…
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14 February
Intimissimi opens new store on Kensington High Street
Oniverse Group, formerly known as Calzedonia Group, has announced the expansion of the Intimissimi brand in the UK with the opening of a new store on Kensington High Street, West London. The new store, which is located at 123a Kensington High Street W8 5SF, joins the existing eight locations within…
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14 February
Inflation remains steady at 4%
Inflation remained unchanged at 4% in January, despite forecasters expecting a slight rise as falling food prices offset an increase in the energy cap, according to the latest figures from the Office of National Statistics (ONS). The news comes as the ONS revealed the annual inflation rate for housing, water,…
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14 February
Abuse of retail workers almost doubles to 1,300 incidents a day
Violence and abuse against retail workers jumped almost 50% as the number of incidents rose to 1,300 per day in 2022/23 from almost 870 per day the year before, according to data from the British Retail Consortium. This rise comes despite retailers investing heavily in crime prevention, spending £1.2bn on…
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14 February
Frasers ups stake in AO amid £80m share buyback programme
Frasers has upped its stake in AO World to 24.7% amid the launch of a new £80m share buyback programme. The Mike Ashley-owned group previously held 23% of its shares. Last year it was reported that Frasers Group had acquired an 18.9% strategic stake in AO World. At the time,…
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14 February
Waitrose invests £30m in price cuts
Waitrose has announced that it is cutting prices by another £30m on hundreds of everyday own brand products. The price cuts begin today (14 February) on over 200 lines including British meat, fruit and vegetables, store- cupboard staples and products sold on our popular fresh food counters, with more price…
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14 February
Dunelm H1 sales rise 4.5% to £872m
Homeware retailer Dunelm has revealed that sales grew by 4.5% to £872m in the 26 weeks to 30 December 2023, as its active customer base also rose 4.2% during the period alongside an uptick in transaction frequency. The retailer attributed its healthy performance in H1 2023 to its continued digital…
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13 February
Today’s news in brief-13/2/24
Yodel has been rescued by rival company Shift, marking a significant development in the logistics sector. Yodel, acquired by YDLGP Limited, backed by Shift and other investors, is set to merge with Shift, known for successfully revitalising the Tuffnells brand. The merger aims to create a robust logistics platform catering…
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13 February
The Body Shop collapses into administration, 2,000 jobs at risk
The Body Shop UK has collapsed into administration, in a move that could see up to 2,000 jobs at risk. German buyout company, Aurelius, confirmed that it has appointed FRP Advisory as administrator following the group’s collapse in the UK. The retailer’s international business will not be affected by the…
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