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 -30 May
Asda acquires EG Group UK for £2.27bn
Asda has announced that it has acquired the majority of EG Group’s UK and Ireland fuel, foodservice, grocery and merchandise business in a deal worth £2.27bn. The deal means that Asda will take ownership of around 350 petrol stations and more than 1,000 food-to-go locations. The UK’s third largest supermarket…
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30 May
New Look names Deloitte to advise on £100m debt refinancing
New Look has reportedly appointed Deloitte to advise on its options for refinancing a £100m debt that is due to expire in 2024, two years after the brand’s latest restructuring, Sky News has reported. According to the outlet, the high street fashion chain’s decision to kick off talks with lenders…
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26 May
Man City opens interactive store at Manchester Arndale
Manchester Arndale has announced that Manchester City is set to open the club’s new store in the former Pink unit within the shopping centre. Opening today (26 May), the interactive store offers merchandise ranging from the team kits, including the recently released 2023/24 home kit, and training apparel, as well…
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26 May
Greggs opens first concession with Sainsbury’s
Greggs and Sainsbury’s have recently teamed up to bring customers a new type of concession inside Sainsbury’s Biggleswade petrol station. The partnership, which has created 12 jobs, is the first of its kind but the retailers are expected to open further concessions together later this year throughout the UK. The…
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26 May
Mango to open 13 new UK stores this year
Mango has announced an expansion across the south and centre of the UK, with 13 planned store openings over the span of 2023 in major cities such as Bristol, London, Manchester, Leeds and Brighton. Among the “key” store openings is the Westfield Stratford City branch that opened today (26 May),…
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26 May
Sainsbury’s moves own brands under Stamford Street range
Sainsbury’s has announced it has combined all of its own-label value ranges under one brand – Stamford Street. Named after the previous home of Sainsbury’s, the brand consists of around 200 products and has already started hitting shelves, with products rolling out between now and Autumn. It comes as it…
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26 May
Asos raises £75m alongside £275m asset based refinancing deal
Asos has announced that it has raised £75m from shareholders as well as landing a lucrative refinancing deal based on its assets. The online retailer has made a deal with Bantry Bay for a £275m asset-based financing facility which runs till April 2026. The company estimates that there will be…
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26 May
Nike announces senior leadership changes
Nike has recently announced senior leadership changes that will continue to build on its strong momentum and underscore its commitment to product innovation. Heidi O’Neill, currently president, consumer and marketplace, will become president, consumer, product and brand, Nike. Craig Williams, currently president, Jordan brand, will become president, geographies and marketplace,…
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26 May
Asda owners set to announce £10bn merger with EG Group
The owners of Asda are said to be in the final stages of completing a £10bn merger between the supermarket and petrol forecourt company EG Group, Sky News has reported. The Issa Brothers, who own both the supermarket chain and EG Group, are reportedly finalising a deal alongside TDR Capital…
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26 May
Burberry appoints new chief people officer
Burberry has appointed Alexandra McCauley as its new chief people officer. McCauley, who will start in London on 15 November 2023, will be responsible for all aspects of Burberry’s people strategy globally. She will join the executive committee and she will report to Burberry chief executive officer Jonathan Akeroyd. McCauley…
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