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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Jul- 2023 -20 July
Amazon announces new £450m delivery centre in Stockton-on-Tees
Amazon has announced plans to open a new £450m fulfilment centre in Stockton-on-Tees, County Durham. The 464,000 sq ft fulfilment centre will launch with up to 1,000 employees when it begins handling customer orders in October 2023, growing to 2,000 people. Recruitment has started for roles from engineers to HR…
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20 July
Dunelm ups FY guidance after strong final quarter
Dunelm has seen full-year revenues rise by 6% to £1.64bn, after a period of “robust” growth in its final quarter, where sales hit £381m despite higher cost prices and rising inflation. Following a “continued robust sales performance, strong commercial disciplines and tight operational grip on costs”, the furniture retailer has…
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20 July
Asda cuts prices on more than 200 products
Asda has announced price cuts on more than 200 own-label products as part of its ongoing support to help families during the cost-of-living crisis. The 226 products, which have been reduced in price by an average of 9%, include a host of fresh fruit and vegetables, frozen meat and fish…
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19 July
Red Run to open flagship store at Liverpool One
Women’s active streetwear brand, Red Run, is set to open its flagship store at Liverpool One this autumn. Trading from 1,400 sq ft, the shop will stock the brand’s range of active streetwear for women, including exclusive collections and limited edition pieces. The new flagship store marks an important stage…
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19 July
Small businesses to be offered rent-free stores on Oxford Street
Westminster City Council has partnered with New West End Company to launch a new programme called Meanwhile On: Oxford Street, which is encouraging applications from up-and-coming businesses that are looking to launch their first physical space. Meanwhile On: Oxford Street will offer “substantial” support by providing a six month tenancy…
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19 July
Looking Sharp: fashion reseller saves £320K in three months with Inventory Planner
Key facts Multichannel footwear and clothing reseller, Sharp Attire – founded in 2015, with a Shopify-powered webstore and significant Amazon presence Uses Inventory Planner to accurately forecast demand for 10,000s SKUs, streamline purchasing across multiple locations and make faster, data-driven decisions that boost the business’ bottom line Impact: 19 DAYS…
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19 July
Profit warnings from FTSE retailers fall in H1
FTSE retailers have issued only 10 profit warnings for the first half of 2023, marking a fall from the 16 warnings issued during the same period in 2022, according to EY-Parthenon’s latest profit warnings report. Nonetheless, more than a fifth of companies in the ‘three warning danger zone’ came from…
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19 July
Gucci CEO Marco Bizzarri to step down
Marco Bizzarri, president and CEO of Gucci since 2015 and a member of Kering’s executive committee since 2012, is set to stand down from his position, effective 23 September 2023. It comes as Kering, which owns the Gucci brand, announced a series of appointments aimed at strengthening the organisation. Jean-François…
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19 July
Second Amazon warehouse joins strike
Amazon workers from a second warehouse are set to walk out after the GMB Union announced the outcome of a strike ballot at the company’s Rugeley fulfilment centre. More than 100 workers at the West Midlands location are going to walk out after 86% of those who voted backed the…
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19 July
Inflation falls faster than expected in June
The rate of price rises has fallen to 7.9% in June, down from 8.7% in May, according to the latest Consumer Prices Index (CPI) from the Office for National Statistics (ONS). On a monthly basis, the CPI rose by 0.1% in June 2023, compared with a rise of 0.8% in…
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