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 -10 July
Bensons for Beds appoints new non-executive director
Nationwide sleep experts Bensons for Beds has announced the appointment of Lindsay Haselhurst as a non-executive director. Haselhurst previously held a number of senior roles at logistics giant Wincanton across UK and Europe, having more than 20 years of experience in operations and supply chain. She is currently chief operating…
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10 July
Primark to hire 100 staff ahead of Salisbury opening
Primark has begun a recruitment drive for 100 new team members ahead of its new store opening in Salisbury this September. The 29,700 sq ft store will be set across two floors in the Old George Mall in the city centre, in the former BHS unit. The retailer will be…
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10 July
Demand for retail warehousing falls to decade low
Demand for retail warehousing has reportedly fallen to its lowest point in the last decade, according to The Telegraph. The news comes as the surge in online shopping which culminated at its peak during the Covid-19 pandemic has also begun to falter with shoppers returning to the high street. The…
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10 July
M&S chair ‘unhappy’ with Ocado Retail performance
M&S chair Archie Norman has reportedly told shareholders last week that he is “not happy” with the performance of Ocado Retail, according to The Times. Norman also stated that there was “work to do” on the joint venture M&S runs with Ocado. Ocado Retail posted a £501m loss for this…
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10 July
Levi’s revenues dip 9% in Q2
Levi Strauss and Co recently reported a 9% revenue decrease to $1.3bn (£1bn) for the period ended in May 2023. Wholesale net revenues decreased 22% on reported and constant-currency bases as strong growth in Asia and Latin America was offset by declines in North America and Europe. In the American…
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10 July
Amazon warehouse workers to strike during Prime Day
Labour union GMB has announced that nearly 900 Amazon workers at Amazon’s Coventry warehouse in Britain will strike for three days during its Prime Day event over a pay dispute, according to a Reuters report. In an emailed statement to Reuters, GMB said the strike will take place from 11-13…
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10 July
Boohoo to contact market regulator amid ongoing Revolution battle
Boohoo is reportedly drafting a letter to the junior stock market regulator over plans to requisition an upcoming Revolution Beauty EGM amid the escalating row between the two companies. According to Sky News, the retailer will contact AIM regulatory authorities to demand that Revolution clarifies an earlier stock exchange announcement…
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10 July
Iceland expects profits to hit 10-year high
Iceland expects to deliver its “highest” profit in over a decade due to its increased focus on value and cost-saving measures, The Times has reported. According to The Times, Iceland told bondholders last week that it was “confident” this year’s underlying profit will be its strongest in 10 years, exceeding…
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7 July
LFL sales nudge up 1.9% in June, BDO finds
Like-for-like retail sales improved marginally in June, up 1.9%, according to new data from BDO LLP. The latest BDO’s high street sales tracker shows that LFL sales growth remains well below CPI inflation, meaning that sales volumes have fallen significantly as consumers continue to tighten the purse strings. Sophie Michael,…
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7 July
Virgin Wines agrees strategic partnership with WH Smith
Virgin Wines has announced it has signed a new strategic partnership with WH Smith Travel which will see it stocked in a number of stores. The company said the agreement represents “significant progress” for Virgin Wines as part of the group’s strategic focus on commercial partnerships. An exclusively curated range…
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