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.
-
Jan- 2024 -9 January
Brits spend record £4.8bn on groceries during Christmas
Sales at the UK supermarkets reached a record breaking £4.8bn during the week ending 23rd December 2023, according to the latest data from NIQ. This is a +4.3% uplift in sales compared with Christmas in 2022 as volumes also increased by 1.2% as shoppers traded up at this busy time…
Read More » -
9 January
Festive period fails to boost retail sales, BRC finds
Total retail sales in the UK rose by only 1.7% in December, against a growth of 6.9% the prior year, as Christmas failed to “make amends” for what was a challenging year in retail. December’s growth was below the three-month average growth of 2.3%, and below the 12-month average growth…
Read More » -
9 January
Shoezone profit before tax jumps to £16.2m
Shoezone has revealed that its profit before tax has risen to £16.2m, up from £13.6m last year, for the year ended 30 September 2023. Alongside this, the company posted revenues of £165.7m, up from £156.2m for the same period last year. Shoezone saw store revenues of £134.8m, up from £129.8m…
Read More » -
9 January
N Brown appoints new director of supply chain
N Brown Group has announced the appointment of Clare Empson as its new director of supply chain. According to N Brown, the appointment is in line with existing “succession” plans for the group’s current director of supply chain, Phil Barnes, who confirmed last year that he will retire in the…
Read More » -
9 January
Boohoo eyes closure of Leicester factory
Boohoo Group is looking to close its Thurmaston Lane factory in Leicester in favour of relocating its operations, Drapers has reported. The news comes after the online fashion retailer entered a consultation last month, which revealed that “less than 100” employees will be impacted at the so-called “model factory” in…
Read More » -
9 January
B&M sales rise 5% to £1.6bn in Q3
B&M has reported that year-on-year revenues rose by 5% to £1.6bn in Q3 2024. In the 14-week period to 30 December 2023, B&M UK like-for-like revenue growth was 1.2%, driven by “positive transaction numbers”. Meanwhile, Q3 YTD increased 8.1% YoY to £4.1bn. During the period B&M UK revenue increased 3.7%…
Read More » -
8 January
Today’s news in brief-8/1/24
The UK retail sector faced challenges as almost 120,000 jobs were lost and over 10,000 stores closed, according to data from the Centre for Retail Research. Despite a -38.8% decrease in store closures compared to 2022, and a -21.3% reduction in redundancies, the improvement is seen as “less bad” rather…
Read More » -
8 January
Nisa announces £1m price drop campaign
Nisa has recently announced a £1m price drop campaign to lower the wholesale selling price (WSP) of hundreds of products, as part of its strategy to ensure its retailers remain competitive. Launching today (8 January), the campaign will focus on areas which have been highlighted as a priority by its…
Read More » -
8 January
Majestic sales rise 8.1% in run-up to Christmas
Majestic has experienced its “best ever” Christmas trading period after recording a 8.1% increase in total sales in the eight weeks to 25 December. Retail sales also grew compared with the same period last year, as Majestic stores served 63,000 new customers ahead of the holidays. Friday 22 December became…
Read More » -
8 January
£90m Oxford Street revamp project to begin in autumn
Westminster City Council has greenlit the £90m renovation of Oxford Street and has set to move the programme forward with construction due to start in autumn 2024. The news comes after the council received positive feedback from more than 1,600 people in the borough, as well as support for all…
Read More »
