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 -12 July
Superdrug profits soar 71% in 2022
Superdrug has revealed that pre-tax profit soared by 71.7% to £77.8m in 2022, against the prior year’s £45.3m, as online trading volumes continued to track significantly ahead of pre-pandemic levels. The health and beauty retailers also saw a 17% surge in sales to £1.3bn in 2022, up from £1.1bn in…
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12 July
June footfall sees highest increase since 2009
High inflation and rising interest rates did not impact consumer activity across UK retail destinations last month, according to Springboard, who reported both the highest month-on-month and annual increases in footfall for June in any year since 2009. Footfall rose by +3.7% over the month from May to June, against…
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12 July
Morrisons to stock Savers products in 500 convenience stores
Morrisons has begun to stock a range of its entry-level Savers products in over 500 convenience stores across the UK. The products will be the same price as in Morrisons supermarkets with the initial roll-out comprising 10 products, including washing up liquid, toilet rolls and sausages. A further 30 products…
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12 July
Travis Perkins names Duncan Cooper as new CFO
Travis Perkins plc has announced they will be appointing Duncan Cooper as its new CFO. Cooper will be succeeding Alan Williams who advised the company’s board that he will be retiring as chief financial officer and stepping down from the board in 2024, after seven years in the role. The…
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12 July
N Brown launches new Jacamo website
N Brown has launched a new trading website for Jacamo, the group’s leading inclusive menswear brand. The launch follows the successful implementation of a new trading website for Simply Be in September, and is another “important step” in the group’s digital transformation journey. The retail group said the platform will…
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12 July
Shoezone ups profit guidance again after strong June sales
Shoezone has announced that it expects its profit for the year ending 2 October 2023 to be no less than £13.5m after strong June sales. The company stated that sales exceeded expectations due to “continued strong demand with volumes up double digits on last year”, despite no price increases on…
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12 July
Frasers ups stakes in Currys to 11.1%
Mike Ashley’s Frasers Group has announced that it has upped its stake in Curry’s to 11.1%. The news comes after Frasers increased its stake in the business to 10.4% last week and Curry’s chief executive revealed that the group was in talks about a possible partnership with Frasers. In an…
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12 July
Cost of living crisis to wipe £65bn from household finances
Inflation and the cost of living crisis are set to wipe £65bn from household finances across the UK, with real earnings not expected to return to growth until May 2024, according to a new report from Grant Thornton and Retail Economics. The report, which asked 2,000 adult consumers in the…
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12 July
Travis Perkins CFO to step down
Travis Perkins has announced that Alan Williams will be retiring as chief financial officer in 2024 after seven years with the company. Duncan Cooper, currently group finance director at Crest Nicholson, is set to succeed Williams. Cooper has held his position at Crest Nicholson since June 2019. Prior to that…
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12 July
Zara owner accelerates sustainability goals
Inditex, the fashion group that owns Zara, Bershka and Stradivarius, has announced at its annual general meeting that it plans to cut emissions along its value chain by 50% in 2030 to reach net zero emissions by 2040. This comes as CEO Óscar García Maceiras announced the group’s new sustainability…
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