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 -27 February
Today’s news in brief-27/2/24
Shop price inflation reached its lowest level since March 2022, dropping to 2.5% in February, according to new figures from the British Retail Consortium (BRC). This decline was attributed to easing input costs for energy and fertilisers, resulting in lower food prices. However, non-food inflation remained stable, with clothing prices…
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27 February
Asos relaunches influencer programme
Asos has relaunched its Asos Insider influencer programme after the initiative was previously wound down in 2020 due to the pandemic. The online retailer said the programme will allow fashion and style influencers from across Asos to “offer customers inspiration, beauty, fashion, and style advice across social channels”. The reintroduction…
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27 February
Asda’s mean Gender Pay difference hits 6.6%
Asda has today (27 February) published its 2023 Gender Pay figures, confirming that the mean pay difference between all male and female workers is 6.6%. In a report submitted to the Government’s Gender Pay website, the supermarket also revealed that the median pay difference between all male and female colleagues…
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27 February
M&S invests record £89m in boosting staff pay
M&S has today (27 February) announced a record £89m investment in its retail pay offer, and a further £5m annual investment to enhance its maternity, paternity, and adoption policies. From 1 April, the rate of pay for UK customer assistants will increase from £10.90 to £12 per hour, representing a…
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27 February
Grocery sales jump 5% as food price inflation falls
Total grocery sales increased 5.1% to £35.3bn for the four weeks to 18 February 2024, as grocery price inflation fell 5.3%, marking the lowest rate since March 2022, according to the marketing data and analytics company Kantar. February also saw a return to indulgence for some consumers as dry January…
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27 February
Morrisons hires advisors as it eyes sale of bakery business
Morrisons has reportedly drafted in advisers to explore the potential sale of its bakery business, as part of plans to offload assets in order to pay down its debts. According to The Telegraph, the supermarket is now working with Deloitte to explore potential interest in Rathbones bakery, which supplies baked…
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27 February
Homebase owner eyes second sale in four years
Hilco Capital has reportedly put Homebase up for sale for the second time in four years after acquiring the business for £1 in 2018. According to reports from The Times, Hilco has already sounded out potential buyers such as B&M and The Range. Hilco originally acquired Homebase from Australian firm…
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27 February
Victorian Plumbing FY24 EBITDA in line with expectations
Bathroom retailer Victorian Plumbing expects to deliver full-year adjusted EBITDA in line with market expectations, as an increase in own brand product sales improved the group’s gross margins. During the first 21 weeks of FY24, the retailer saw that customers continued to seek value by purchasing more own brand products,…
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27 February
Shop price inflation drops to 2.5% in February
Shop price annual inflation eased to 2.5% in February, down from 2.9% in January, new figures from the BRC have revealed. The analysis shows that February’s figures are below the three-month average rate of 3.3% and that shop price annual growth is its lowest since March 2022. Non-food inflation was…
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26 February
Today’s news in brief-26/2/24
Frasers Group has announced the appointment of four new directors to its board, signalling a significant restructuring move. Among the appointees are David Al-Mudallal, the current chief operating officer, and Ger Wright, the managing director of Sports, who are elevated to executive director roles due to their notable contributions. Additionally,…
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