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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Oct- 2023 -27 October
On to open new store in Spitalfields Market
Swiss sports brand On has announced the opening of its second UK store, located in Spitalfields Market in East London. Following the successful launch of the brand’s flagship store on Regent Street, On continues its retail expansion in the UK, driven by remarkable sales growth. Situated at 37 Brushfield St,…
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27 October
Sainsbury’s Lothian wind farm reaches completion
Sainsbury’s has completed its brand-new wind farm in Scotland, which will add up to 50 megawatts of electrical capacity to the grid in the form of renewable energy that will be used to power the retailer’s stores, offices and depots nationwide. The wind farm, named Longhill Burn, has been under…
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27 October
Hermes sees revenues jump 16% to €3.3bn
Hermes has recorded a 16% increase in revenues to €3.3bn (£2.87bn) in the three months 30 September 2023. All the geographical areas posted solid performances. European sales reached €2.24bn (£1.95 bn) over the same period last year, up 20.7%. With the exception of Japan, sales throughout Asia also increased by…
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27 October
Amazon Q3 net sales rise 13% to $143.1bn
Amazon has revealed that its net sales rose 13% to $143.1bn (£118bn) for the three months ended 30 September 2023, up from $127.1bn (£104.9bn) in the same period in 2022. The company’s net sales were also up 11% excluding the $1.4bn (£1.2bn) favourable impact from year-over-year changes in foreign exchange.…
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27 October
Standalone Wilko stores to return to high street this year
Standalone Wilko stores are set to return to the high street and retail parks across Britain, including Northern Ireland for the first time, as new owner The Range prepares to roll-out the brand once again. Five stand-alone concept stores will now open before Christmas 2023, and the first two locations…
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27 October
Lakeland partners with Retail Trust for new staff wellbeing measures
Kitchenware and homeware retailer Lakeland has begun working with retail industry charity the Retail Trust to protect the wellbeing of its 1300+ members of staff. They will be given access to a range of personalised mental health resources thanks to the new partnership, including counselling and cognitive behavioural therapy for…
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27 October
Tesco names Matthew Barnes as new UK CEO
Tesco has announced the appointment of Matthew Barnes as its new UK CEO effective from March 2024, following news that current CEO Jason Tarry will be stepping down after 33 years at the retailer. Barnes is a highly accomplished retailer, having worked in many senior positions in Aldi. He was…
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26 October
Today’s news in brief-26/10/23
Majestic Wines has marked a significant milestone by opening two new stores in one week, a feat not accomplished in a decade. The first store, located in Chippenham, was reopened four years after its closure by previous management. The second, the largest in Wales, is the second-largest in the company’s…
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26 October
Fashion brand launched by Ukrainian refugee to open London pop-up
After launching her new fashion brand Nenya in Leeds in October last year, Ukrainian refugee Yana Smaglo is taking her latest fashion range to London with a pop-up shop. After launching in Yorkshire last year, the pop-up shop will be open to visit in London until 29th October, supported by…
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26 October
Some 88% of retailers expect sales boost from Black Friday
Some 88% of retailers are expecting Black Friday to have an impact on sales, closely followed by ‘Panic Saturday’ – the last Saturday before Christmas – with 85%, according to the latest Virgin Media O2 Business Movers Index. The index, which is built using aggregated and anonymous data by O2…
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