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 -31 July
Aldi to remove use by dates on milk
Aldi has announced it is removing use by dates from its fresh milk to help reduce food waste. Britain’s fourth-largest supermarket will instead begin using ‘Best Before’ dates on milk bottles, except for filtered milk, across its stores in England and Wales to prevent milk from being thrown away unnecessarily.…
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31 July
Superdrug to open tenth Irish store in Dublin
Superdrug will be opening its tenth store in Ireland this Thursday 3 August in Dundrum Town Centre. The new 3,760 sq ft store, which will offer customers health and beauty products, everyday toiletries, beauty treatments and luxury fragrances, will also bring 40 new job opportunities to the area. In addition,…
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31 July
Kering appoints Armelle Poulou as CFO
Kering has announced the appointment of Armelle Poulou as its new chief financial officer, effective September 1, 2023. Poulou joined the Group in 2019 and is currently director of Corporate Finance, Treasury and Insurance. She is a graduate of HEC Business School in 1993, and has successively held a range…
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31 July
Prada H1 net revenues up 22%
Prada has announced that its net revenues for the six months ended 30 June were €2.23bn (£1.92bn), up 22% compared with the same period last year. Alongside this the company posted an EBIT of €491m (£421m), an increase of 22% from the €304m (£261m) it posted last year. The company’s…
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31 July
Richemont acquires stake in Gianvito Rossi
Richemont has announced that it has acquired a controlling stake in Gianvito Rossi, the renowned Italian shoemaking maison, in a private transaction. Gianvito Rossi, founder, CEO and creative director of the eponymous brand, will retain a stake in the company and continue to nurture and develop the maison in partnership…
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31 July
Adidas to sell second batch of Yeezys in August
Adidas has announced a further release of the sale of a second batch of unsold Yeezy trainers in phases throughout the month of August across the world. Since terminating the Yeezy partnership in October, Adidas has been exploring multiple scenarios for the potential use of the existing Yeezy inventory. In…
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31 July
Lush pays bosses £5m in bonuses after claiming same amount in support
Lush reportedly paid its managers £5m in bonuses last year despite taking £5.1m in government support and posting a 90% fall in profits, The Guardian has reported. It reported that these bonuses were paid on top of salaries in 2022 to directors, including the co-founder, Mark Constantine, and his wife,…
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31 July
Frasers Group to axe 100 roles in Manchester
Frasers Group is reportedly set to axe more than 100 roles in its head office in Manchester in a bid to streamline the business, Drapers has reported. It is understood that the retail group has entered into a consultation period with staff from Missguided, I saw It First and Studio…
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28 July
John Lewis appoints head of customer planning and channels
John Lewis has announced the appointment of Andreas Nicolaides as the head of customer planning and channels, effective from October, as the retailer looks to deepen relationships with customers. Nicolaides’ remit will include modernising and optimising the retailer’s marketing across stores and online, while the role will also optimise the…
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28 July
Tesco to sell food bank donation bags in 300 stores
Small donation bags pre-filled with items most needed by food banks are to go on sale in 300 Tesco stores this summer to help food banks meet increased demand. The donation bags, which customers can pick up as they enter the store, will contain the items most needed by food…
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