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 -25 August
UK consumer confidence improves in August as inflation falls
GfK’s Consumer Confidence Index was up five points to -25 in August, compared with -44 in August 2022. UK consumers’ expectations for the general economic situation over the next 12 months have increased by three points to -30, which is 30 points higher than the same period last year. The…
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24 August
Asda announces £23m investment to lower its prices
Asda has recently announced price cuts on 425 branded and own-label products as part of its continued support for families impacted by the cost of living crisis. The supermarket is investing £23m to lower prices by an average of 11% on some of the most popular products bought by customers…
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24 August
Abercrombie & Fitch raises guidance as Hollister brand boosts sales
Abercrombie and Fitch has increased its full-year outlook ranges on sales and operating margin after its Hollister brand helped boost company net sales 16% to $935m (£737m) during the three months ended 29 July 2023. The company said the results were driven by Abercrombie brands, up 26%, and its Hollister…
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24 August
Aldi calls for Wilko staff to apply for over 6,000 roles
Aldi has called upon staff at Wilko to get in touch with the company about jobs amid the news that Wilko looks unlikely to be saved in a rescue deal. The budget supermarket stated that it had more than 6,000 jobs currently available across its UK stores. It recently announced…
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24 August
Mulberry appoints new non-executive director
British luxury brand Mulberry has announced the appointment of Leslie Serrero as an additional independent non-executive director, following the conclusion of its Annual General Meeting on 7 September 2023. Serrero, who is a French national, has extensive experience of luxury brand leadership. She has been an international managing director of…
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24 August
Majority of Wilko stores to close ‘within weeks’
The majority of remaining Wilko stores are set to shutter “within weeks” and redundancies are expected to begin after the embattled retailer failed to secure a buyer, the GMB Union has warned. The union said it was recently informed by administrators that there was “no longer any prospect that the…
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24 August
Foot Locker sales fall 9.9% in Q2
Footwear and clothing retailer Foot Locker reported a 9.9% decrease in sales to $1.8bn (£1.4bn) in Q2, compared with sales of $2bn (£1.5bn) in the second quarter of 2022. The company also reported a loss of $5m (£3.9m), compared with net income of $94m (£74m) in the corresponding prior-year period.…
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23 August
Tesco introduces clear caps on milk bottles to improve recyclability
Tesco has today (23 August) announced the introduction of new clear caps for bottles of milk, in a bid to make it easier for customers to recycle. By removing coloured plastic caps and using a clear alternative on around 425 million of bottles every year, Tesco is enabling the cap…
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23 August
Urban Outfitters owner sees income rise 75% in Q2
Urban Outfitters Inc, the owner of Urban Outfitters, has reported a net income of $104.1m (£82m) for the three months ended in July 2023, a 75% increase compared to the $59.4m (£46.8m) reported in Q2 2022. Total company net sales for the last three months increased 7.5% to a record…
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23 August
House of Fraser to close two more stores
House of Fraser is set to close two more of its stores as parent company Frasers Group continues to prioritise Sports Direct and Flannels. The House of Fraser store in Solihull will close on 28 August and its store in Guildford will shut on 30 September. Frasers Group shut eight…
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