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.
-
Mar- 2024 -1 March
Today’s news in brief-1/3/24
The forthcoming £90m Oxford Street Programme is poised to generate up to £2.8bn in additional sales for London’s West End between 2027 and 2033, as indicated by the New West End Company. This initiative, supported by both public and private investments, aims to revamp Oxford Street’s public spaces, infrastructure, and…
Read More » -
1 March
GOBI Cashmere appoints new CEO
GOBI Cashmere has announced the appointment of Amarsaikhan Baatarsaikhan as its new chief executive officer, effective from today (1 March). Advancing from his previous role as chief growth and strategy office, Baatarsaikhan first joined the Mongolian cashmere retailer in 2019 to spearhead its global brand expansion. In his new role,…
Read More » -
1 March
Oxford Street revamp to deliver £2.8bn in sales by 2033
The upcoming £90m Oxford Street Programme is set to deliver up to £2.8bn in total additional sales to the West End between 2027-2033, New West End Company has revealed. The significant public and private investment into Oxford Street’s public realm coincides with a wider evolution in mix across the street,…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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,…
Read More » -
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,…
Read More » -
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…
Read More » -
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…
Read More »
