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
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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27 September
Sainsbury’s to launch Good food for all of us campaign in November
Sainsbury’s will launch a new campaign called “Good food for all of us” in November, promising to provide food for all customers, whatever their budget, tastes or dietary requirements. Research shows that 59% of people tend to cook the same dishes every week, while nine million adults experience food insecurity…
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27 September
Superdrug to open new store in Leigh
Superdrug will be opening a brand new store in Leigh Parsonage Retail Park tomorrow (Thursday 28 September), which will offer beauty services, luxury fragrances and exclusive brands. The 6,500 sq fr store, which will create 16 new jobs in the area, will also feature its own Beauty Studio area where…
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27 September
N Brown bolsters third party brand offering
N Brown Group, the fashion and homeware digital retailer, has introduced a series of new third-party brands across its three strategic brands, “further enhancing its already wide-ranging product offering for customers”. Launched at the beginning of September to Jacamo and JD Williams customers, it has already added FatFace to its…
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27 September
Tesco locks prices on 1,000 products until 2024
Tesco is locking the price of more than 1,000 products until 2024, as consumers continue to face the cost-of-living crisis. Among the 1,000-plus everyday items to have their price locked as part of the latest round of Low Everyday Prices are Typhoo One Cup teabags, Jacobs’ Cream Crackers and Aquafresh…
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27 September
H&M profits surge 61% as cost-saving measures bear fruit
H&M has announced that its profit after tax rose 61% to SEK 7bn (£524m) for the nine months ended 31 August 2023. Furthermore, its gross profit increased to SEK 87bn (£6.5bn) which corresponds to a gross margin of 50.3%. The company’s operating profit increased to SEK 10.2bn (£764m), corresponding to…
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