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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Sep- 2023 -28 September
Today’s news in brief-28/09/23
Rami Baitiéh will take over as Morrisons’ new CEO from November, succeeding David Potts, who has held the position for nine years. Baitiéh, previously a chief executive at Carrefour France, will work closely with Potts during the transition. Potts expresses confidence in Morrisons’ future growth, highlighting the company’s unique position…
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28 September
Paul and Shark flagship among Regent Street openings
The Crown Estate has leased its 2,500 sq ft retail space at 233 Regent Street to Paul and Shark. This comes after Spanish womenswear brand Bimba Y Lola opened a new 4,000 sq ft store at 211-213 Regent Street earlier this month on 9 September, carrying a curated edit of…
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28 September
Sainsbury’s to use paper packaging on toilet and kitchen rolls
Sainsbury’s is the first UK retailer to announce it is switching from plastic to paper packaging across its entire own-brand toilet paper and kitchen towel ranges. The move will save 485 tonnes of plastic, which is equivalent to over 55 million pieces of plastic a year. The change is the…
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28 September
Poundland to open 10 former Wilko stores
Poundland has announced it is set to open 10 former Wilko stores this Saturday (30 September) after it secured an agreement with administrator PwC to take an option on a number of Wilko store leases. The following Wilko stores will open on Saturday morning: Broad Street, Chell Road, Stafford, ST16…
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28 September
Asda introduces new commercial operating model
Asda has briefed colleagues on plans to introduce a new operating model for its commercial function at its home office in Leeds. The change is part of Asda’s ongoing transformation to ensure it has the right structures, technology and people skills in place to support its long-term ambition to become…
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28 September
Morrisons appoints new chief executive
Morrisons has announced the appointment of Rami Baitiéh as its new chief executive from November. He will succeed David Potts, who has been Morrisons CEO for nine years, and will work closely with him to ensure a smooth handover period. Potts and Sir Terry Leahy, senior advisor at CD&R, had…
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28 September
People Tree liquidates UK business, owing creditors £8.5m
People Tree is reportedly set to put its UK business into liquidation, owing debts of more than £8.5m to creditors, The Guardian has reported. The debts include money owed to suppliers, customers and the majority of its British workforce. Following a deterioration in its trading performance, the sustainable fashion brand…
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28 September
Morrisons sales hit £3.8bn in Q3
Morrisons has reported that like-for-like sales not including fuel, increased by 2.9% during Q3 ended 30 July, increasing its total sales by 3.1% to £3.8bn. The supermarket chain has attributed this to its focus on competitive pricing, inflation being below the market, and further investment in its ‘Price Locked Low’…
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28 September
BPF calls for extended empty rates relief
The British Property Federation (BPF) has called on the government to extend the business rates relief for empty properties to 12 months. The Federation has also called upon the government to reintroduce a 50% rate cut for long term empty stores. As it currently stands, owners of vacant stores are…
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27 September
Today’s news in brief-27/09/23
Tesco is freezing prices on over 1,000 items until 2024 in response to the cost-of-living crisis. Products like Typhoo One Cup teabags, Jacobs’ Cream Crackers, and Aquafresh Toothpaste are included. The supermarket is continuously cutting prices, with recent reductions on items like Andrex Toilet Tissue, Free From white rolls, and…
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