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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Dec- 2023 -18 December
Adidas appoints new head of global HR
Adidas has appointed Michelle Robertson as executive board member, responsible for global human resources, people and culture, effective from 1 January. Robertson, a British national, has been with adidas and previously Reebok in different HR roles for more than 18 years. Since July 2023 she has already been leading global…
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15 December
Today’s news in brief-15/12/23
Amazon has emerged victorious in a £215m tax dispute with the EU Commission. The European Court of Justice dismissed the Commission’s claims that Amazon had entered into a deal with Luxembourg allowing it to avoid 75% of its EU tax. The court ruled that the Commission failed to prove that…
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15 December
A quarter of UK adults to scale back Xmas meal, survey finds
A quarter of UK adults will be scaling back their Christmas meal this year due to the current financial pressures, with 12% – up to 19% of those aged between 25 and 34 – planning to offer fewer dishes than usual, according to a survey by Strat7 Researchbods. The survey,…
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15 December
THG launches sustainability partnership PACT
THG has announced the launch of THG Partnership in Action, or PACT, a new initiative focused on collaboration with suppliers to foster a culture of sustainability while mutually decarbonising operations. The group’s science-based targets were officially validated by the SBTi in September 2023, encompassing mandatory Scope 1 and 2 reductions…
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15 December
Consumer confidence improves during December
Consumer confidence improved two points during December to -22 as sentiment improved ahead of Christmas. All five measures were up in comparison to last month’s announcement. The index measuring changes in personal finances during the last year is up two points at -14; this is 14 points better than December…
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15 December
Amazon wins £215m EU tax battle
Amazon has won its case against the EU Commission over a £215m tax battle in the European Court of Justice. The Commission had alleged that Amazon had struck a deal with Luxembourg enabling the company to avoid 75% of its EU tax. The ECJ dismissed the claims insisting it had…
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15 December
Sosandar appoints new non-exec chairman
Sosandar has announced the appointment of Nick Mustoe as non-executive chairman. Mustoe has been interim non-executive chairman since 16 March 2023. In addition, the company has announced that Jon Wragg, independent non-executive director, has notified the board of his intention to step down in order to focus on other commitments,…
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15 December
Currys boss criticises gov’s minimum wage plans
Currys CEO Alex Baldock has accused the government of not caring about the retail industry after claiming its decision to raise the minimum wage would “load more costs onto an already overburdened sector”. It comes after chancellor Jeremy Hunt outlined plans to raise the legal minimum wage by 10% to…
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15 December
Naked Wines H1 sales fall 20% as losses widen
Naked Wines total revenues fell by 20% to £132.3m during the six months ended 2 October, while its pre-tax losses widened to £9.7m from £200k a year earlier. The results come as the retailer’s revenues dropped in all markets, which it attributed to a reduction in repeat customer sales. However,…
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14 December
Today’s news in brief-14/12/23
Farfetch is reportedly in talks with Apollo Global Management to secure emergency funding as it faces financial challenges. Farfetch, once valued at $23bn (£18bn) in 2018, now has a market value of $221m (£175m). While discussions with Apollo are ongoing, it is uncertain whether the funding will be provided as…
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