News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Sep- 2023 -21 September
Tesco’s chief customer officer to step down
Tesco has announced that its chief customer officer, Alessandra Bellini, is set to step down from her role at the end of September. Following her departure, Ashwin Prasad will lead Tesco’s customer and product teams as chief commercial officer. Bellini, who joined in March 2017, will leave Tesco after nearly…
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21 September
DFS profits halve in full-year results
DFS profits have halved in its latest full-year results, falling by 49.2% to £29.7m, down from £58.5m the year before, as the group contended with a “very tough market” over the period. Revenues from continuing operations were also down by 5.3%, falling to £1.09bn Nonetheless, this was still 13.8% ahead…
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21 September
Wilko administrators to review £77m dividend payouts
Wilko administrators PwC are reportedly set to question majority shareholder Lisa Wilkinson over payouts of £77m in dividends to investors during the last decade. According to the Times, PwC will review payouts to the Wilkinson family and other investors in the years leading up to the retailer’s demise. It has…
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21 September
Next raises full-year guidance amid improved trading conditions
Next has updated its full-year guidance following an increase in total sales and profit before tax during the first six months of the year to July. During the period, the retailer reported a 5.4% rise in sales to £2.6bn and a 4.8% increase in profit before tax to £420m. Operating…
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20 September
Today’s news in brief-20/09/23
Dunelm announced record sales in its full-year results, with revenues rising by 5.5% to £1.64bn. However, profits fell by 7.7% to £192.7m. The company attributed the strong sales to cost reductions on over 1,000 products and the strength of its product range. Dunelm also invested over £20m in digital operations…
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20 September
Ofgem urged to act on rates as consultation into broker fees ends
Ofgem has been urged to act on “out of contract” rates by Box Power, the same social enterprise which helped force a consultation on hidden broker fees. This comes as the consultation on transparency for energy broker fees has now ended, with Box Power CEO Corin Dalby saying the regulator…
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20 September
Poundland launches rebranded website
Poundland has today (20 September) relaunched its website, which now includes a range of around 3,000 items for home delivery. The launch of Poundland.co.uk has been made possible by the digital migration of its Poundshop.com operation and the opening of a second digital fulfilment hub at its distribution centre in…
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20 September
Poeticgem Group acquires Little Mistress
The Poeticgem Group has reportedly acquired the brand IP of womenswear brand Little Mistress, according to Drapers. Under the agreement Poeticgem will own various brands under the Little Mistress umbrella and will design, source and distribute its portfolio of brands. As a result of the deal the Little Mistress brand…
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20 September
Naked Wines swings to £15m loss in FY23
Naked Wines chairman Richard Gormley has issued an apology to shareholders after it reported a loss of £15m in 2023, compared to a profit of £2.9m last year, according to its full year results for the 53 weeks ending 3 April 2023. The group attributed its losses to non-cash goodwill…
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20 September
Inflation ‘unexpectedly’ falls to 6.7%
The headline rate of inflation has fallen by 0.1% to 6.7% in August, according to the latest data from the Office for National Statistics (ONS), despite prior concerns from economists that the rate was set to rise. The largest downward contributions to the monthly change in annual rates came from…
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