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 -23 January
Merry Hill signs 65 new leases in 2023
Retail and leisure destination Merry Hill has completed 65 leasing deals covering more than 330,000 sq ft in 2023. The destination also increased its sales – 2023 exceeding 2022 by 7%, and December up 6.5% year-on-year – while footfall rose by 9.4% in the 12 month period. In total, the…
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23 January
Storm Isha dampens early week footfall
Battering winds from Storm Isha hit retail over Sunday and Monday with footfall across all UK retail destinations down -4.6% on the week previous and down -5.1% on 2023 levels, according to the latest data from MRI Springboard. Against 2023 levels, footfall on UK high streets slumped by -14.4% on…
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23 January
Morrisons nears £2.5bn sale of forecourt business
Morrisons is reportedly close to agreeing a deal to sell its forecourts business to Motor Fuel Group (MFG) in a £2.5bn, according to Sky News. MFG and Morrisons are both majority owned by American private equity firm Clayton Dubilier and Rice (CD&R). Reports of talks between the two companies emerged…
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23 January
Primark sales jump 7.9% to £3.3bn amid strong Christmas
Primark has reported a 7.9% increase in sales to £3.3bn for the 16 weeks ending 6 January 2024. The sales increase was attributed to “slow start” given the unseasonably warm weather, and “strong Christmas trading”. Like-for-like sales grew by 2.1% driven by higher average selling prices. Primarks owner, Associated British…
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23 January
Lidl rewards employees with £37m pay investment
Lidl GB has announced its latest investment of £37m into pay, which will see its 26,000 hourly-paid staff receive the “highest rates of pay in the sector”. From 1 March, the supermarket’s entry level rates will increase from £11.40 to £12.00 outside of the M25, rising to £13.00 with length…
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23 January
Boohoo appoints new CFO as McCabe steps down
Boohoo has announced the appointment of Stephen Morana as its new CFO, following the resignation of current CFO Shaun McCabe, who has stepped down from his role “by mutual agreement and with immediate effect”. Morana, who “is widely recognised for his ecommerce expertise”, will assume the role on 19 February…
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22 January
Today’s news in brief- 22/1/24
John Lewis, as part of its turnaround strategy, has reportedly alerted employees to the possibility of smaller pay rises. The retailer is considering changes in salary policies, aiming for more flexibility and sustainability. Dame Sharon White’s management team would gain control over performance-linked pay rises, potentially leading to fewer staff…
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22 January
Co-op opens new convenience store in Swansea
Co-op has opened its newest store to serve and support the community of Pontarddulais, Swansea. The new 2,500 sq ft convenience store, which is located on St Teilo Street, opens between 7am and 10pm daily and has created 15 local jobs. Designed to serve and support the community, the store…
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22 January
John Lewis warns staff could face smaller pay rises
John Lewis has reportedly warned staff that they may face smaller pay rises under new salary policies as it continues its turnaround strategy, according to The Telegraph. The outlet reported that the John Lewis Partnership is consulting on the changes that it believes would allow for more “flexibility” and allow…
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22 January
Sainsbury’s boss backs tougher retail crime laws
Sainsbury’s CEO Simon Roberts has backed calls for tougher laws to protect shop workers from abuse and physical attacks. Roberts told the Mail on Sunday that he had been working with the government and other retail bosses after attacks on the supermarket’s staff “escalated through last year”. He stated that…
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