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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Jan- 2024 -31 January
John Lewis ‘will return to profit this year’, White insists
John Lewis Partnership chair, Dame Sharon White, has said the business will return to profit this year, The Telegraph has reported, following reports that up to 11,000 jobs could be cut under the retailer’s turnaround plan. White reportedly told workers that the retail business would “more than break-even” after suffering…
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30 January
Today’s news in brief- 30/1/24
Online marketplace Secret Sales has appointed Anthony Farrow as its new Chief Technology Officer. Farrow, with 23 years of experience working with global fashion brands, will focus on advancing AI and emerging technologies to enhance the platform’s efficiency. His role involves implementing serverless architecture, refining search capabilities, and integrating AI-driven…
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30 January
Freemans sales jump 5% during Christmas
Freemans, the digital department store, announced today (30 January) a strong Christmas trading with continued growth. Sales figures for the eight weeks to 31 December 2023 rose 5% when compared to the same period last year and were set against a challenging backdrop for the retail sector for this Christmas.…
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30 January
Less shoppers stick to a weekly grocery shop routine, report finds
Just 16% of shoppers now report sticking to a weekly shop schedule, down from 26% in 2020, according to Savanta’s Grocery Eye report. The report has found that the weekly shop – a staple of domestic life for decades – appears to be “coming to a close” as cash-strapped and…
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30 January
Secret Sales appoints new chief technology officer
Secret Sales has announced the appointment of Anthony Farrow as the online marketplace’s new chief technology officer. The appointment comes as a strategic move by the retailer to intensify its focus on technology investments, in tandem with its expansion efforts across Europe. Prior to joining Secret Sales, Farrow held the…
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30 January
Pets at Home lowers guidance despite Q3 revenue jump
Pets at Home has lowered its underlying profit before tax guidance to around £132m despite the fact its group revenue rose to £362.4m for the 12 weeks ended 4 January 2024, a 4.2% increase on last year. The pet retailer also revealed its consumer revenue rose 6.0% last year and…
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30 January
Shop price inflation drops to lowest level since 2022
Shop Price annual inflation eased to 2.9% in January, down from 4.3% in December, marking the lowest level since May 2022. It comes as non-food inflation fell to 1.3% in January, down from 3.1% in December. This is below the three-month average rate of 2.4%. Meanwhile, food inflation decelerated to…
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30 January
Poundland begins transition to new general merchandise ranges
Poundland has confirmed that it has begun a “complete overhaul” of its general merchandise ranges that will see it introduce 2,000 new lines across all its 850-plus stores in the UK and Ireland. The new ranges, powered by parent company Pepco Group, will be the single biggest change in its…
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30 January
Studio Retail swings to full-year profit following Frasers takeover
Studio Retail has welcomed a pre-tax profit of £12m in the year ended 30 April, 2023, up from a £75.7m loss the prior year, following its acquisition by Frasers Group. According to new filings from Companies House, while full-year revenues fell from £424.4m to £330.2m, it has “actively taken action…
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29 January
Today’s news in brief-29/1/24
The UK experienced a significant increase in business administrations, with the retail sector being the hardest hit, accounting for 19% of the total administrations. This information comes from a study conducted by full-service law firm Shakespeare Martineau. The year saw a total of 1,641 businesses filing for administration, a 22%…
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