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 -11 January
M&S ‘top performing’ grocer over Christmas period
M&S has revealed that it was the top performing grocer in volume growth terms over the Christmas period and the quarter, as food sales rose 10.5%, with like-for-like sales up 9.9%. According to the retailer, supply chain improvements helped to drive better availability year-on-year in its supermarkets. Clothing and home…
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10 January
Today’s news in brief-10/1/24
Sainsbury’s reported a 6.5% increase in retail sales for the 16 weeks ending January 6, 2024. Grocery sales rose by 9.3%, with Christmas grocery sales up 8.6%. General merchandise sales dropped 0.6%, but excluding the impact of Argos’ closure in Ireland, they increased by 1.5%. The company reiterated its full-year…
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10 January
Axel Arigato to open flagship store in Covent Garden
Axel Arigato, the Swedish footwear brand, is set to open a new flagship store in Covent Garden in 2024. Located in Covent Garden’s Seven Dials, the entrance of the lifestyle brand spotlights Covent Garden’s position as a destination for international, high quality, fashion retailers. A ‘people-powered’ lifestyle brand, Axel Arigato…
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10 January
Greggs to open 160 new stores as FY23 sales rise
Greggs has revealed it plans to open between 140 and 160 new shops in 2024 as total sales in FY23 increased 9.6% to £1.8bn. The food-to-go retailer saw a 9.4% increase in like-for-like sales during Q4 of the year, which the company said was driven by the popularity of the…
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10 January
Sosandar revenues up 23% in record quarter of trading
Sosandar has welcomed a record quarter of trading over the festive period, with revenues soaring 23% to £14.3m in the three months ended 31 December 2023. Over the quarter, a strong performance was seen in October and November and this carried on into December, with all channels “continuing to perform…
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10 January
Liverpool One reports strongest start to year since 2018
Grosvenor has reported that 2024 is already expected to top last years’ performance at Liverpool One, with a 10% increase in visitor numbers during the first week of January 2024 versus 2023, representing the destination’s strongest start to a year in more than five years. The start to the year…
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10 January
Marks Electrical reduces profit guidance despite rise in sales
Marks Electrical has reduced its full-year profit guidance despite reporting a 22% increase in revenues to £88.9m for the nine months to December 23 and a 17.8% increase in revenues to £35.1m for the three months to December 23. The news comes as “consumers remain highly price-conscious in a challenging…
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10 January
Sainsbury’s Q3 sales jump 6.5% amid Christmas boost
Sainsbury’s has revealed that its retail sales jumped 6.5% for the 16 weeks ended 6 January 2024. As a result of this the company has reiterated its expectations of an underlying full-year profit of between £670m and £700m. Alongside this, the company’s grocery sales were up 9.3% while its Christmas…
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10 January
ProCook revenues rise 3% over Golden Quarter
ProCook has revealed that total revenues over the third quarter increased by 3% year-on-year to £23.1m. While the kitchenware retailer’s total like-for-like revenues dipped by 0.4% over Black Friday and Christmas, its performance was better than the declines of 7.9% and 1.8% in the first and second quarters. The retailer’s…
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9 January
Today’s news in brief-9/1/24
The UK saw record-breaking grocery sales of £4.8bn during the week ending December 23, 2023, representing a 4.3% increase compared to the previous year. Aldi and Lidl continued to outperform the market, with a combined market share increasing to 20.1%. Total spending on groceries increased by £657m over the four…
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