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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Nov- 2023 -23 November
Blakemore Retail acquires Hockmeyer Motors Limited
The UK’s largest SPAR Retail Distribution Company A.F. Blakemore and Son Limited has expanded its operation in Sleaford, Lincolnshire after agreeing a deal to purchase Hockmeyer Motors Limited. Rachael Hockmeyer and Christian Slingsby joined the business in 1999 and has owned and operated it since 2007. The 2,100 sq ft…
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23 November
Today’s news in brief-23/11/23
The British Retail Consortium (BRC) has criticised the chancellor, accusing him of neglecting larger businesses in his Autumn Statement. While the business rates multiplier for small businesses was frozen, larger ones received no relief. The decision to increase the business rates standard multiplier has drawn sharp criticism, with BRC’s CEO,…
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23 November
Rituals and Miniso open stores at Derbion
Midlands’ retail and leisure destination, Derbion, has announced that Rituals and Miniso have taken up leases. The news follows a string of recent openings at the centre including Yankee Candle’s 1,300 sq ft store and TUI’s all-new 1,000 sq ft space. Rituals has signed a lease for a 1,700 sq…
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23 November
Amazon founder to sell £800m worth of shares
Amazon founder Jeff Bezos is expected to offload a further £800m worth of shares in the online giant, CNBC revealed. Bezos, who is estimated to have a £135bn net worth, may reportedly sell as many as 8 million to 10 million shares. The news comes after Bezos last week sold…
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23 November
Asos interim chief people officer to step down
Asos interim chief people officer, Caroline Ross, is reportedly set to step down from her role after a year at the fashion retailer, according to Drapers. The news comes after the group’s brands director, James Barron, also stepped down last month after 13 years, while menswear product director Stefan Pesticcio…
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23 November
BRC accuses Hunt of ‘selling out’ retailers and customers
The British Retail Consortium (BRC) has accused the chancellor of selling out retailers and customers in his Autumn Statement delivered yesterday (22 November). In the budget Hunt froze the business rates multiplier for small businesses but offered nothing to larger ones. He also increased the National Living Wage to £11.44…
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23 November
Nisa appoints new director of retail and sales
Peter Batt, managing director at Nisa, has appointed Katie Secretan to his senior leadership team as director of sales and retail to help drive and implement its long-term business plans. Joining from her most recent role as retail transformation director at the Post Office, Secretan will be responsible for setting…
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22 November
Chancellor cuts National Insurance to 10% alongside NLW rise
Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from…
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22 November
Kingfisher lowers profit guidance amid slight sales drop
Kingfisher has lowered its profit guidance for the year after it saw its sales slip 2.1% to £3.2bn for the three months ended 31 October 2023. The company’s sales fell 2.7% on a constant currency basis and it now expects its full-year profit before tax to end around £560m down…
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22 November
Urban Outfitters owner hits ‘record’ $1.28bn in Q3 sales
Urbn, the parent company of Urban Outfitters, Free People and Anthropologie, revealed it experienced “record” sales of $1.28bn (£1.02bn) during the third quarter of the year, ending 31 October. This comes despite sales at Urban Outfitters dropping 14.2% during the period. The group also experienced a 3.6% drop in wholesale…
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