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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May- 2023 -31 May
UK supermarkets see sales up 12.3% in May
UK supermarkets experienced a 12.3% uplift in total till sales over the last four weeks ending 20 May 2023, up from 9.7% in April, according to the latest data from NIQ. UK supermarkets (stores over 3000 sq ft) experienced the biggest uplift in sales during the week of the Coronation…
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31 May
WHSmith raises guidance ahead of summer
WHSmith has announced that it is raising its profit guidance for FY23 as it hedges its bets on a strong summer travel demand. The company saw its travel sales increase 31% for the 13 weeks to 27 May 2023, compared with the same period last year. Its total travel sales…
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31 May
Summer bank holiday boosts UK footfall by 5.4%
Over the May summer bank holiday weekend, footfall increased by 5.4% across all UK retail destinations, according to the latest report by Springboard. High streets benefited from the long weekend, with footfall up 8.5% compared with 2022 whilst retail parks experienced 5.2% uplift on bank holiday Monday. Footfall soared over…
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31 May
Asda chair slams ‘clumsy’ food price cap plan
The chair of Asda and EG Group has criticised the government’s “clumsy” plan to introduce price caps on food staples. On a call to reporters, Lord Rose, who is also the former boss of Marks and Spencer, told outlets that “you can’t interfere in the markets” and warned of the…
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31 May
B&M FY profits fall by 17% to £436m
B&M has reported that pre-tax profits fell by 17% to £436m in FY23, down from £525m the prior year. Despite this, group revenues hit £4.9bn in the year ended 25 March, meaning that the group is 30.7% ahead of its pre-pandemic FY20 levels. According to the group, despite the fall…
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31 May
Amazon launches new term-time contracts for parents
Amazon has launched an innovative new contract that offers parents, grandparents and guardians of school-age children the choice to work term-time only. The new contracts guarantee time off for the six-week Summer break, as well as the two-week Easter and Christmas holiday periods, without affecting the comprehensive range of benefits…
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30 May
Sainsbury to cut prices of over 40 products
Sainsbury’s has recently announced that it is cutting the price of over 40 products, including cheese, yoghurt and cream. The news follows last week’s announcement that the grocery retailer is combining its own-label value ranges into one brand, Stamford Street, to help customers more easily find everyday staples at budget-friendly…
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30 May
GNG Group appoints commercial director
Mattress retailer GNG Group has announced the appointment of Richard Gretton to the role of commercial director at its West Yorkshire business. He joins the group from Hypnos Beds where he spent almost six years as global retail sales director. Prior to that, he was commercial director at Castelan Group…
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30 May
Sunak considering plans to ask retailers to cap price of basic food items
Rishi Sunak is reportedly considering plans to ask retailers to cap prices on basic foods in an effort to reduce food inflation, The Sunday Telegraph reported. After a sharp increase in the cost of living brought on by the war in Ukraine, Sunak has urged the Treasury to find measures…
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30 May
Food price inflation falls to 15.4% in May
The British Retail Consortium (BRC) has revealed that food inflation has decreased for the first time this year to 15.4% in May, down from 15.7% in April. Fresh food inflation also decreased in May to 17.2%, down from 17.8% in April. This is below the 3-month average rate of 17.3%.…
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