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.
-
Feb- 2024 -7 February
Gap appoints Zac Posen as new creative director
Gap has announced the appointment of American fashion designer, Zac Posen, as the executive vice president, creative director of Gap Inc. and chief creative officer of Old Navy. Posen is an award-winning creator and entrepreneur, celebrated for his “technical excellence” and body positive designs. Over 25 years, his extensive career…
Read More » -
7 February
Co-op to introduce secure tills and AI tech to combat rising crime
The Co-op is reportedly set to install more than 200 secure till kiosks, locked cabinets for bottles of spirits and AI technology to monitor self-checkouts amid rising in-store crime. According to The Guardian, the move comes after a 44% surge in retail crime last year, with incidents reaching about 1,000…
Read More » -
7 February
Jan supermarket sales remain buoyant
Total Till sales at UK supermarkets experienced continued growth (+6.6%) in the last four weeks ending 27 January 2024, according to new data released today by NIQ. The firm said the increase is reflective of a slow down (6.1%) in food inflation, which is at its lowest rate since June…
Read More » -
7 February
Amazon Fashion partners with resale platform Hardly Ever Worn It
Amazon’s fashion arm, Luxury Stores at Amazon In Europe, has announced its collaboration with resale platform Hardly Ever Worn It, offering an assortment of pre-owned items from “coveted” luxury brands. Customers in the UK, Germany, Spain and Italy can now browse pre-owned (but never or ‘hardly ever’ worn), designer items…
Read More » -
7 February
Estée Lauder to cut up to 3,100 jobs amid global sales decline
Estée Lauder has announced a restructuring programme, which will see the group cut up to 3,100 jobs across its global workforce, as net sales fell 7% to $4.28bn (£3.39bn) for the second quarter ended 31 December 2023. According to the group, the restructuring programme will go hand-in-hand with a further…
Read More » -
7 February
Sainsbury’s unveils ‘Next Level’ strategy
Sainsbury’s has announced its latest strategy ‘Next Level Sainsbury’s’, aiming to build on its Food First Strategy it launches in 2020. The company has laid out eight commitments which it aims to achieve by March 2027. These include; having food volume growth ahead of the market, delivering profit leverage from…
Read More » -
6 February
Today’s news in brief-6/2/24
Revolution Beauty has settled a dispute with its former CEO and co-founder, Adam Minto. Minto will pay the company £2.9m over six years, starting with a payment of £483,333.35 due in March. The settlement follows delays in the company’s financial reporting during Minto’s tenure. Both parties agreed to settle without…
Read More » -
6 February
MINISO to open new store in Camden
Lifestyle retailer MINISO is opening its biggest-ever store in the UK in Camden. Located on Camden High Street, MINISO is opening its doors to the public on Wednesday, February 14 at noon. Spanning across an expansive 4,110 square feet, MINISO’s Camden store will stand as the brand’s largest retail space…
Read More » -
6 February
Co-op calls for more effective use of Apprenticeship Levy
Co-op has called for private and public sector organisations to collaborate to ensure the Apprenticeship Levy is used more effectively to support young people. It comes as it was revealed this week that millions of pounds of funds remain unspent and have been returned to the central government, due to…
Read More » -
6 February
Hobbs to open relocated stores after closure programme
Women’s clothing brand Hobbs is set to launch new stores in more favourable locations despite a string of closures, according to the Times. The group, which closed its London’s Bloomsbury, Victoria and Islington stores in recent weeks, will open in seven new locations confirmed for this year, including in Canary…
Read More »
