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 -3 January
Today’s news in brief- 3/1/24
Asda has appointed Matt Kelleher, former Chief Information Officer at Morrisons, as its first Chief Digital Officer. Kelleher will be responsible for data and ecommerce functions, leading all technology functions after completing the ongoing technology transformation project ‘Future.’ This move is part of Asda’s long-term ambition to become the UK’s…
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3 January
Almost half of consumers feel less financially secure, KPMG finds
Four in 10 consumers are heading into 2024 saying they feel less financially secure than when 2023 began, according to new research from KPMG UK. Assessing confidence for 2024, KPMG’s latest Consumer Pulse survey of 3000 UK consumers shows those feeling worse about their financial security outnumber those feeling more…
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3 January
UpCircle wins £250k Sky Zero Footprint Fund 2023
Skincare brand UpCircle has won Sky Zero Footprint Fund’s £250k prize in media value to spend on TV this year with its TV commercial ‘forward thinking skincare that keeps you coming back’. UpCircle was founded by siblings Anna and Will Brightman when they discovered that more than 500,000 tonnes of…
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3 January
The O2 sales jump 31% in 2023
The Entertainment District and Outlet Shopping at The O2 has reported a record-breaking year of trade in 2023, with a 31% sales increase compared with like-for-like trading days in 2022. Across the year, The O2 welcomed over 8.9 million visitors to the destination (up 17% compared to 2022 footfall), and…
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3 January
The Body Shop first global beauty brand awarded 100% vegan certification
The Body Shop has revealed it has become the first global beauty brand retailer to achieve 100% vegan product formulations across all ranges including skincare, body care, haircare, makeup and fragrance. The entire product formulations portfolio has been certified by the Vegan Society. It comes as the retailer said the…
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3 January
Morrisons invests £15m to freeze prices across 1000 products
Morrisons has revealed it has invested £15m in order to cut the price of popular products this January in a bid to help its customers through the January squeeze after the expense of Christmas. Over 200 products are being cut by an average of 20% including cupboard essentials and breakfast…
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3 January
THG backs director after shareholder revolt
The board of THG has backed a non-executive director after his re-election was voted against by more than a fifth of shareholders at the company’s AGM. A “significant” number of votes were cast against a resolution relating to Iain McDonalds’ re-election in the AGM last June. However, following a review…
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3 January
Supermarkets see highest December transactions since 2019
Britons made 488 million trips to the supermarkets over the four weeks to 24 December, 12 million more than last year and the largest number at Christmas since 2019. According to data from Kantar a record £13.7 bn passed through the tills, with the average household spending an all-time high…
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3 January
Asda appoints new chief digital officer from Morrisons
Asda has appointed Matt Kelleher as its first chief digital officer with the aim to evolve how it uses data to improve its customer offer, as part of its long-term ambition to be the UK’s second largest grocery retailer. Kelleher will join the supermarket in July from Morrisons, where he…
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2 January
Today’s news in brief-2/1/24
Central Group is reportedly considering increasing its stake in luxury department store Selfridges as co-owner Sigma faces financial issues. Central recently became the largest shareholder, converting a £317m loan into equity. Sigma’s Prime Selection unit filed for insolvency, possibly leading to liquidation of assets worth over €19bn, impacting its stake…
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