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.
-
Jun- 2023 -7 June
UK consumers feeling cost-of-living more than EU counterparts, EY finds
Cost-of-living pressures have affected UK consumers more than their European counterparts, according to the latest EY UK Future Consumer Index. The 12th edition of EY’s survey of 1,000 UK consumers found that 62% of UK consumers say they are “extremely concerned” by the cost-of-living squeeze, compared with 50% in the…
Read More » -
7 June
N Brown appoints new CFO
N Brown has named Dominic Appleton as its new chief financial officer, succeeding Rachel Izzard who has stepped down after three years. Appleton joined the Manchester-based clothing and footwear retailer as chief financial officer designate in March of this year and has now been appointed CFO and a board director…
Read More » -
7 June
Boots CFO steps down
Boot’s chief financial officer Michael Snape has recently quit his role after five years in the position. Snape joined the pharmacy and beauty retailer in 2018 after holding senior positions at grocers, including Tesco. He will be replaced by existing Boots finance executive Sam Hunter. It is unclear whether Snape…
Read More » -
7 June
Sainsbury’s CEO lands near £5m pay packet
The CEO of Sainsbury’s Simon Roberts received a pay packet of £4.95m last year in the form of cash and shares. The bulk of this award was a £1.7m bonus and £2.2m in share awards alongside Roberts’ £899,000 base pay, a 3.5% increase. Overall this figure of £4.95m was an…
Read More » -
7 June
Asos suppliers cut ties amid falling profits
Suppliers to Asos have reportedly started cutting ties with the online retailer after credit insurers withdrew cover amid concerns over its declining profits, The Times has reported. It comes as the group fell off the FTSE 250 index last week, only weeks after it reported a fall in half-year profits…
Read More » -
7 June
Zara owner Inditex Q1 sales up by 13% to €7.6bn
Zara owner Inditex has revealed that sales grew 13% in the first three months of 2023 to reach €7.6bn (£6.5bn), as its Spring/Summer collections have been “very well received” by customers. The group reports that sales were also positive in all of its geographical areas and in all brands, with…
Read More » -
6 June
Aldi crowned cheapest supermarket for the 12th month in a row
Aldi has been named the UK’s cheapest supermarket in May by Which? for the 12th consecutive month. The consumer champion’s analysis, which involves comparing the average prices of a shop consisting of popular groceries at eight of the UK’s biggest supermarkets, found that Aldi shoppers could save over £18 on…
Read More » -
6 June
Taxpayer money spent on Amazon hits ‘record-breaking’ £222m
Taxpayer cash spent on Amazon hit a “record-breaking” £222m last year, according to a new report commissioned by GMB Union. The amount of central government, local government and NHS money spent on the internet giant in the calendar year 2022 rose by 69% against the prior year, reaching the highest…
Read More » -
6 June
Central Co-op to become a ‘Fertility Friendly’ employer
Central Co-op has partnered with the social enterprise educational training provider Fertility Matters at Work, as it works towards becoming a Fertility Friendly employer. The training provider aims to implement policy-backed best practices when supporting colleagues experiencing fertility challenges. In addition to undertaking the training provided by Fertility Matters at…
Read More » -
6 June
Boots among companies hit by cyber attack
Boots is one of a number of major companies including the BBC and British Airways that has been bit by a cyber attack believed to have been orchestrated by a Russian-speaking criminal gang. Reports suggest the hackers targeted software called MOVEit used by payroll provider Zellis. According to The Telegraph,…
Read More »
