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 -15 August
Supermarket sales slow as inflation falls
Overall take-home grocery sales increased by 6.5% in the four weeks to 6 August 2023, down from 10.4% last month, as grocery price inflation fell by 2.2 percentage points to 12.7%, according to the latest results from Kantar. Kantar revealed that the prices of some staples like milk have edged…
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15 August
M&S expects FY profit growth as it ups market share
M&S has stated that it expects to see profit growth for the full year after seeing continued market share growth in its clothing and home and food categories. It comes as like-for-like food sales increased 11% for the 19 weeks ended 12 August 2023. This was a result of further…
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15 August
Wilko competitors consider bids for its estate
Wilko’s non-food market competitors Poundland, B&M, The Range and Home Bargains are reportedly among the companies looking to settle a deal to acquire the collapsed business, The Sun has reported. The retailers have until tomorrow (Wednesday 16 August) to register their offers with PwC, Wilko’s administrator. It is understood that…
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15 August
L’Occitane owner considers taking group private
The owner of L’Occitane is considering taking the business private in a move that has seen shares in the cosmetics groups rise sharply. Reinold Geiger, who already controls over 70% of the group, is said to be “contemplating a possible transaction” that could see him take the group private, according…
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15 August
Summer holidays sees high street footfall up 4.8%
Footfall across all UK retail destinations increased by 0.7%, driven by high streets where footfall rose by +4.8% from the week before, according to the latest data from MRI Springboard. The rise has been credited to the school summer holidays with coastal towns also seeing a 2.3% increase. In contrast,…
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14 August
Bird and Blend Tea Co. to open 15th store in Edinburgh
Independent tea company, Bird and Blend Tea Co., will be opening its 15th retail store in Edinburgh tomorrow (15 August), the first of three to open before the end of the year, following the company’s launch on the high street 10 years ago. Alongside its ecommerce business, retail stores are…
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14 August
John Lewis chief outlines buy now pay later ambition
John Lewis chief executive Nish Kankiwala has revealed that the retailer is looking into developing a buy now pay later (BNPL) scheme in the mould of Klarna. Speaking to the Mail on Sunday, Kankiwala said: “I think we will develop a buy-now-pay-later product. Especially in the younger generation, people expect…
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14 August
Tourist tax hits London spending despite rise in visitors
Despite tourist numbers continuing to recover in 2023, the spending gap has widened compared to pre-pandemic levels, according to new research from the New West End Company. The company said the data shows a situation that is “worsening quarter-on-quarter”, as awareness spreads on Britain’s tourist tax. It found that flight…
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14 August
Basic food costs increases to more than 30% in two years
The cost of some basic food prices has reportedly seen a sharp rise of more than 30% in the past two years, according to figures seen by the Guardian. Consumer body, Which? Told the Guardian that although food inflation has slowed in recent months, costs are still much higher than…
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14 August
Tesco to stock more own-brand items in Express stores
Tesco has announced a “major overhaul” to the range of products stocked in its Express stores, in a move that will see more than 50 products replaced with cheaper alternatives. Many of the replacement items will be from its own-brand range, with some items less than a third of the…
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