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 -10 October
Today’s news in brief-10/10/23
Grocery price inflation has fallen for the seventh consecutive month, reaching 11% for the four weeks ending on October 1, 2023. This is the lowest rate since July 2022, based on data from Kantar. During this period, take-home grocery sales increased by 9.1% compared to the previous year, likely influenced…
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10 October
Poundland to open nine more converted Wilko stores
Poundland has confirmed another nine former Wilko stores have been converted and will open their doors the upcoming weekend. The announcement comes after an additional 20 former Wilko stores had already opened as a Poundland in the past week. The English and Welsh Poundland stores that will open on Saturday…
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10 October
Superdrug to hire 1,000 sales assistants ahead of Christmas
Superdrug is looking to hire an additional 1,000 sales assistants for the golden retail quarter, which includes Black Friday, Advent and Christmas. According to the health and beauty retailer, the new roles will ensure that Superdrug continues to offer “market leading” customer service at the busiest of times. While the…
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10 October
Mamas and Papas expands in South East Asia
Mamas and Papas, the high street nursery brand, has announced a series of new partnerships with retailers in South East Asia as part of its ongoing international expansion. The company has signed multi-store supply agreements with MAP Active, a part of PT Mitra Adiperkasa TBK Group, a lifestyle retailer with…
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10 October
UK retail sales growth slows to 2.7% in September
UK total retail sales growth slowed to 2.7% in September, compared to 2.2% in September 2022, according to the BRC. Food sales increased 7.4% over the three months to September, a figure below the 12-month average growth of 8.4%. Non-food sales decreased 1.2% over the three-months to September, making them…
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10 October
Shein appoints investor as group vice chair
Fast fashion brand Shein has announced the appointment of investor Marcelo Claure as its new group vice chairman. Claure, who until recently served as CEO of SoftBank Group International, joined Shein in January 2023 as chairman of Shein Latin America. In that time, he has overseen the launch of Shein…
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10 October
Grocery price inflation falls for seventh consecutive month
Grocery price inflation has fallen for the seventh month in a row to 11% for the four weeks to 1 October 2023, the lowest rate since July 2022, according to new data from Kantar. Over the period, take-home grocery sales rose by 9.1% compared with last year, as people enjoyed…
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10 October
River Island profits plummet 90% despite rise in turnover
River Island operating profits dropped by 90% year-on-year to £7.4m, despite turnover rising 11.6% year-on-year to £825.8m for the 53 weeks ended 31 December 2022. The retailer attributed a combination of costs to clear excess stock and cost of goods inflation on the gross profit fall of 69% year-on-year to…
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9 October
Today’s news in brief-09/10/23
Frasers Group CEO Michael Murray has announced a significant shift away from the traditional department store model for House of Fraser. Murray aims to “rethink the space” by incorporating Frasers Group’s own brands and potentially phasing out the House of Fraser brand altogether. This transformation seeks to address previous issues,…
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9 October
The Lexicon announces new retail lettings
The Lexicon has secured new lettings to Giggling Squid, Søstrene Grene, Robert Dyas, Five Guys, ChopStix, German Doner Kebab, Tortilla, and Mr Simms who have taken a combined 23,500 sq ft of retail and F&B space at the Bracknell shopping centre. The leasing activity follows the shopping centre’s continued strong…
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