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 -11 December
Tissot opens flagship boutique in Covent Garden
Tissot, the Swiss watch brand owned by the Swatch Group, has opened its debut flagship boutique in Covent Garden, representing the brand’s only standalone store in the UK. This new location marks a significant milestone for Tissot as it continues to expand its presence in one of London’s shopping destinations.…
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11 December
John Lewis non-exec director steps down
John Lewis non-executive director Nicky Dulieu has stepped down from her role after seven months with the partnership. According to a spokesperson for the retailer, she decided to quit her role after deciding that it wasn’t “compatible with her existing time commitments”. Dulieu was appointed to the partnership’s board in…
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11 December
Matalan adds 10 new third-party brands
Matalan has announced the addition of 10 new third-party brands launching exclusively online. The new brands are Quiz, Pink Vanilla, Blue Vanilla, Roman, Yumi, Mela London, Where’s that From, Izabel, Brand Threads and Toe Zone. These new brands will sit alongside existing brands such as Little Mistress, JDY, In The…
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11 December
Black Friday fails to rally shoppers during ‘bleak’ November, BDO finds
Significant discounts in the run up to Black Friday failed to rally UK shoppers, resulting in “another disappointing month” for retailers, according to new figures released today by accountancy and business advisory firm BDO. According to its High Street Sales Tracker, total like-for-like (LFL) sales in November fell by 0.3%…
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11 December
Asda lorry strikes could lead to Xmas food shortages, union warns
Asda may face food shortages over the festive period following strike action amongst its lorry drivers. It comes as Unite confirmed that around 80 HGV drivers, employed by Wincanton on an Asda contract, will strike over the Christmas period at the supermarket’s Rochdale operations hub. The union confirmed drivers will…
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8 December
Lululemon revenues rise by 19% in Q3
Lululemon has welcomed a strong third quarter of trading that exceeded expectations, as revenues rose by 19% to $2.2bn (£1.75bn), and gross profit increased 21% to $1.3bn (£1bn). Over the period, North America revenues rose by 12% while international revenues soared 49%. Overall, total comparable sales increased 13%, with comparable…
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8 December
Lidl scraps ‘use by’ dates on dairy products
Lidl has ditched ‘use by’ dates in favour of ‘best before’ ones on all its yoghurt and fresh milk ranges, in a move to help customers reduce food waste at home. The grocer’s updated milk packaging has already started filtering into stores across England and Wales, while customers can expect…
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8 December
Levi’s CEO to retire in April 2024
Levi’s has announced that president and CEO Chip Bergh has decided to retire from the company, effective from 26 April 2024. As a result, the group’s board of directors has elected Michelle Gass, the current president, to succeed Bergh in the role of president and CEO from 29 January 2024.…
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7 December
Today’s news in brief-7/12/23
Kelso, an activist shareholder in THG, has intensified its campaign for THG to clarify its plans to separate its three business divisions. Kelso believes that splitting the divisions (beauty, nutrition, and ecommerce services) would bridge the gap between THG’s share price and its true value. The shareholder has written to…
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7 December
Castle Quarter signs first Korean supermarket in Norwich
Castle Quarter, Norwich’s social, leisure and lifestyle destination, is to be the home of Norwich’s first dedicated Korean supermarket, Itaewon, following the arrival of new food retailers at the scheme. Itaewon has taken unit 12 at Castle Quarter, totalling 1,664 sq ft, on a new ten-year lease. Increasing numbers of…
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