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 -3 October
Footfall forecast to drop in run-up to Christmas
Christmas for retailers and the hospitality industry will be challenging due to rising bills that will have started to bite since September, the retail intelligence experts at MRI Software, formerly Springboard, are forecasting. It found that this year, footfall across all UK retail destinations will decline on a month-to-month basis,…
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3 October
Shop price inflation reaches lowest point in a year
Shop price annual inflation dropped to 6.2% in September, down from 6.9% in August, reaching its lowest point since September 2022, according to data from the British Retail Consortium (BRC). The BRC has put this decrease down to competition between retailers causing prices to drop. Non-food inflation eased to 4.4%…
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3 October
Dr Martens to open 100th EMEA store on Oxford Street
Dr. Martens plc is set to open its 100th EMEA (Europe, Middle East and Africa region) store on London’s Oxford Street. The new location, at 184 – 190 Oxford St, will open on 10 November 2023. Dr Martens stated that the new store, which is near its flagship store in…
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3 October
Boohoo revenues tumble 17% amid weaker than expected demand
Boohoo has seen revenues plunge by 17% to £729.1m in the first half of the year, after a slower than expected recovery in its sales by volume. Over the period, UK revenues were down by 19% while International sales fell by 15%, as the number of orders fell by 18%…
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2 October
Mango Kids turnover exceeds €200m in 2022
Mango’s retail arm for children, Mango Kids, has revealed it grew by 18% in 2022 compared with the previous year, with turnover exceeding €200m (£173m) in the year, including Mango Teen. This comes as, by channels, sales in physical stores in 2022 accounted for 53% of total turnover, while the…
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2 October
Tesco rolls out protective screens for retail workers
Tesco is introducing new protective screens at hundreds of Express stores and petrol station kiosks in a further bid to protect its colleagues from assault. The supermarket, which has already rolled out body cameras across its stores as part of a range of measures to protect colleagues, is making the…
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2 October
Dame Sharon White to step down as John Lewis Chair next year
John Lewis Partnership chair Dame Sharon White is reportedly set to step down from her role next year, according to BBC News. The outlet has reported that White has begun talks with the firm’s board in order to start the search for her successor. She has been in the role…
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2 October
Retail bosses demand action over rising retail crime
Retail bosses from some 88 companies have signed a letter to the Home Secretary, Suella Braverman, demanding action over rising rates of retail crime. The retail industry has demanded that the government create a standalone offence of assaulting or abusing retail workers, with tougher sentences for offenders to act as…
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2 October
Lidl sees interest bill treble to £108m
Lidl’s UK arm has been hit by a rise in its borrowing costs, with its interest bill on debts almost trebling to £108m, according to This Is Money. The paper said this marked the “first serious setback” for Lidl in its UK operations, which has seen its share of the…
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2 October
Iceland boss quits plan to become Tory MP
Iceland boss, Richard Walker, has reportedly quit plans to become a Conservative MP as he accused the party of having “drifted badly out of touch” with the needs of the British people. Walker, whose father founded the supermarket chain Iceland, announced his plans to stand as a Tory MP last…
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