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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Aug- 2023 -22 August
Cake Box like-for-like sales rise 6.8%
Cake Box’s franchisee stores reported a like-for-like sales increase of 6.8% for the first 17 weeks of FY24 ended 31 March, showing an increase from 5.4% like-for-like sales growth for the first 11 weeks. The specialist retailer of fresh cream cakes attributed its performance to tight cost control and proactive…
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22 August
Gap creative director steps down
Gap global creative director Len Peltier has stepped down from his role in July, Drapers has revealed. Peltier, who held the role since 2020, oversaw Gap’s creative campaigns for both its UK and global audiences. He initially joined the company in 2017, when he became creative director of Banana Republic,…
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21 August
Søstrene Grene to open in Victoria Place Woking
Danish homeware retailer Søstrene Grene is set to open a new store in Victoria Place in Woking, as part of its rapid expansion across the UK. Occupying a prominent position on Henry Plaza between M&S and Moss Bros, the brand is opening a 4,673 sq ft store, its first-ever in…
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21 August
Tesco becomes first retailer to cover period pant VAT
Tesco has reportedly become the first retailer to cover the cost of VAT on its period pant offering as part of a campaign from retailers to convince the government to class the product under the same category as menstrual products, according to City AM. According to reports, from today (21…
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21 August
M&S tech boss to leave despite recent promotion
M&S chief digital and technology officer Jeremy Pee is set to leave the company despite the fact his role was expanded in January this year. Pee was hired in 2018 from Loblaw, Canada’s largest supermarket chain to be a chief digital and data officer. He oversaw the expansion of the…
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21 August
Marquee Brands launches licensing agreement with BSI Apparel
Global contemporary menswear brand Ben Sherman has announced a new licensing agreement with BSI Apparel Limited, a subsidiary of Crew Clothing owner Broadgate1960. The new agreement grants BSI Apparel a core licence and operating partnership to produce and distribute men’s apparel and tailored clothing to Ben Sherman’s numerous global distributors. …
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21 August
TK Maxx owner ups profit guidance amid Q2 sales boost
The UK arm of TJX Companies, TK Maxx, has raised its profit guidance for the full-year following a 8% year-on-year increase in sales to $12.8bn (£10bn) for the second quarter ended 29 July. During this period, the group’s pre-tax profit margin also rose by 1.2% to 10.4% from last year’s…
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21 August
Waitrose and John Lewis offers free coffee to police to combat shop thefts
Waitrose and John Lewis is reportedly offering free hot drinks and discounted food to on-duty police officers who visit its stores in a bid to cut shoplifting and violence against staff, according to the Times. The news comes after Waitrose reported that assaults on its employees have roughly “doubled” since…
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18 August
Armagh’s The Mall to undergo refurb under new management
The Mall Shopping Centre in the centre of Armagh centre, Northern Ireland, will undergo a refurbishment following its acquisition by Turkington Group earlier this year. Under new ownership, the scheme has renewed its lease with anchor tenant Sainsbury’s and welcomed a new tenant, Hays Travel, with further deals expected to…
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18 August
Poor weather drags down retail sales 1.2% in July
Retail sales volumes are estimated to have fallen by 1.2% in July 2023 following a rise of 0.6% in June 2023 as poor weather is thought to have deterred shoppers, according to the latest figures from the Office for National Statistics (ONS). Food stores sales volumes fell by 2.6% in…
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