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 -4 July
SCS names Mark Fleetwod as CFO
Flooring and furniture retailer ScS has revealed it has appointed Mark Fleetwood as chief financial officer (CFO). He will join the board of the group and take up his role as CFO on 4 September 2023. The retailer said Fleetwood has significant retail and PLC experience most recently serving a…
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4 July
Bensons for Beds maintains sales momentum in Q3
Nationwide bed and mattress retailer Bensons for Beds has announced the continuation of its FY23 sales momentum in the third quarter, posting an 8% like-for-like sales increase for the three months to the end of June. This consistent like-for-like sales growth maintains the 8% growth posted for the first half…
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4 July
CMA issues £60,000 fine to Asda over fuel price probe failure
The Competitions and Market Authority (CMA) has fined Asda £60,000 for failing to provide information for its fuel pricing probe when required. Asda received two fines each of £30,000, for sending a representative to attend a compulsory CMA interview who was not equipped to provide evidence on certain topics and…
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4 July
Morrisons to close Bradford manufacturing site, 450 jobs at risk
Retail trade union USDAW has been briefed by Morrisons about its intention to close the Bradford manufacturing site at Cutler Heights in Bradford, which will put over 450 jobs at risk. This comes as Morrisons is proposing that the work carried out at Cutler Heights will be moved to their…
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4 July
Sainsbury’s returns to growth in Q1 as food inflation falls
Sainsbury’s welcomed a return to volume growth and strengthening market share outperformance in Q1, largely driven by a strong grocery momentum over the period, as the group noted that food inflation was starting to ease. Over the quarter, like-for-like sales (excluding fuel) were up by 9.8%, while total retail sales…
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3 July
The Vampire’s Wife served winding up petition by HMRC
The Vampire’s Wife has been issued with a winding up petition from HMRC on Friday (30 June), according to filings from The Gazette, due to debt built up during the pandemic. The company, which was founded by designer Susie Cave, has a hearing set to take place at the Royal…
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3 July
M&S launches first back-to-school partnership with Oxfam and Ebay
Marks and Spencer has announced the expansion of its long-standing Shwopping partnership with Oxfam for the back-to-school season with dedicated school uniform Shwop boxes in over 200 stores across the UK. Through the new M&S back-to-school Shwopping boxes, donated preloved school uniforms will be given a second life in an…
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3 July
Salvatore Ferragamo CFO to depart
Luxury Italian retailer Salvatore Ferragamo has revealed that its CFO Alessandro Corsi is to step down from his role effective 30 September 2023. The company has announced that Corsi made the decision in order to “take on a new professional challenge”. Corsi joined Salvatore Ferragamo as head of business development…
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3 July
Tesco appoints Burberry chair to replace John Allan
Tesco has appointed the chair of Burberry, Dr Gerry Murphy, as its new chairman, who will replace John Allan in the role following misconduct allegations which led to Allan’s resignation. Joining on 1 September 2023, Murphy has extensive global leadership experience in both executive and non-executive roles, and is currently…
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3 July
Mulberry turns down Mike Ashley’s attempt to join board
Mulberry has reportedly rejected Mike Ashley’s efforts to join its board, according to The Times. It is understood that in recent weeks the Sports Direct founder has met the luxury handbag retailer’s executive team to attempt to join the boardroom. This comes as he “grew frustrated” about what he believes…
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