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 -20 October
EE ventures into ecommerce with new brand launch
EE has announced that it is broadening its horizons from traditional telecommunications services to venture into the ecommerce market. In this landmark shift for the brand, EE has rebuilt its business from inside out based on the current and future needs of its customers. Following extensive customer research, the four…
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20 October
Frasers ups Asos stake again to 23%
Frasers has again upped its stake in Asos to 23%, as it continues its investment in a number of UK fashion retailers. Frasers has increased its holding in the online retailer a number of times throughout this year and currently holds 27,473,492 Total number of voting rights. It tops a…
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20 October
UK consumer confidence falls ahead of festive period
GfK’s long-running consumer confidence index decreased nine points to -30 in October. All five measures were down in comparison to last month’s announcement. The index measuring changes in personal finances during the last year fell six points at -19; this is nine points better than October 2022. The forecast for…
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20 October
Retail sales drop in September as demand for household goods wanes
Retail sales have fallen by 0.9% in September, following a rise of 0.4% in August 2023, according to the new figures from the ONS. Looking at the quarterly picture, sales volumes fell by 0.8% in the three months to September 2023 when compared with the previous three months. Non-food stores…
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20 October
ProCook revenues dip 1.8% in Q2
ProCook has seen revenues dip by 1.8% to £15.7m in the second quarter of the year, excluding the impact of its exit from Amazon EU last year which resulted in a “modest” UK market share gain. Over the period, there were improvements in both ecommerce and retail channels compared to…
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20 October
John Lewis appoints new head of brand and store experience
The John Lewis Partnership has announced the appointment of Paul Jones as its new head of brand and store experience. Jones joins the Partnership after 12 years with Tesco where most recently he was head of brand, store design. Starting on 8 January 2024, his role will be “integral” to…
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19 October
Today’s news in brief-19/10/23
Adidas has revised its full-year projections upward following robust Q3 2023 results. The sportswear giant’s performance was positively impacted by the sale of its remaining Yeezy inventory, leading to better-than-expected underlying business development. Now, Adidas anticipates an operating loss of €100m in 2023, down from the previous forecast of €450m.…
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19 October
Matalan posts resilient Q2 revenues
Matalan has posted revenues of £288.6m for the 13 weeks ended 26 August 2023, an increase of 0.8% compared with the £286.4m it posted in the same period last year. Furthermore the company saw a 16.6% increase in EBITDA to £47.9m up from £36.7m last year, after the adoption of…
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19 October
Dunelm eyes increased market share amid strong Q1
Dunelm has seen sales rise by 9% to £390m in the first quarter of the year, following a strong period of growth that was largely driven by volume, amid plans to further its market share. The group welcomed a strong performance in both its stores and digital channels, with the…
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19 October
Gear4music sees revenues decline 6%
Gear4music has reported a 6% decline in revenues to 62.6m for the six months to 30 September 2023. The group’s European and rest of the world revenues also dropped by 15% to £26.1m. However, its UK sales saw a 3% increase from £35.5m to £36.5m. The group stated that revenues…
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