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 -24 May
VF Corp FY revenues dip as Vans sales fall
VF Corp, the owner of brands such as Vans, The North Face and Timberland, has seen its revenues dip by 2% to $11.6bn (£9.4bn) in FY23 amid a “challenging” consumer environment. North Face performed better than expected however, with sales up by 11% to $3.6bn (£2.9bn) in the full-year period.…
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24 May
Co-op and Starship expand robot delivery service in Yorkshire
The partnership between Starship Technologies and The Co-operative is rolling out autonomous grocery deliveries from today (24 May) to local residents in Wakefield, Yorkshire. The service has been made available to 13,000 residents across over 6,500 households, with orders made through the Starship food delivery app. Groceries will be picked…
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24 May
Inflation falls to 8.7% in April
Inflation has fallen to 8.7% in April, marking the first time it has been in single digits since last summer, according to the latest figures from the Office for National Statistics. Inflation was down from 10.1% in March 2023 and increased by 1.2% in April 2023, compared with a rise…
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24 May
Uniqlo permanently closes stores in Russia
Japanese retailer Uniqlo has recently announced it is leaving Russia after the suspension of its operations last year, Reuters has reported. In March 2022, after Russia embarked on a military operation in Ukraine, Uniqlo was one of the many international companies to interrupt operations in the country. In an official…
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24 May
M&S FY sales and profits jump as turnaround strategy bites
M&S has seen its full-year profits and sales increase despite the ongoing cost-of-living crisis and tough economic conditions over the period, with the group attributing its performance to its latest turnaround strategy. Profit-before-tax rose by 21.4% to £474.7m, up against £391.7m the prior year, while group sales were up by…
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24 May
Barbour names UK&I managing director
Barbour has announced the promotion of Paul Wilkinson, the brand’s global marketing, commercial and managing director in the US, as the new managing director for the UK and Ireland, according to Drapers. Wilkinson replaces Ryan Llewellyn-Pace, who departed the brand earlier this March. According to Drapers, Llewellyn-Pace will be heading…
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24 May
Lidl increases pay for third time in 12 months
Lidl GB has announced its third pay rate increase in 12 months which will impact all of its 24,500 hourly-paid colleagues. The latest raise will see colleagues earn up to 16% more than their counterparts at “traditional” and “premium” priced supermarkets. Store and warehouse colleagues working outside the M25 will…
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24 May
Kingfisher Q1 sales hit £3.3bn
Kingfisher has revealed that it has posted £3.3bn in sales for the three months to 30 April 2023, an increase of 0.8% year on year. The B&Q and Screwfix owner stated that 18% of sales were affected by poor weather conditions in the spring causing a like for like decrease…
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23 May
Next staff secure ‘significant’ win in equal pay battle
More than 2,000 Next store staff who are taking legal action against the group for equal pay have won the second stage in their legal battle, which has ruled that their jobs are equal to warehouse jobs within the group. The store staff, who are all current or former sales…
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23 May
Aldi crowned Drink Awards ‘Multiple Retailer of the Year’
Supermarket chain Aldi has recently been crowned ‘Multiple Retailer of the Year’ at the Drinks Business Awards. The result, announce at the London Wine Fair, comes after a strong year of innovation for Aldi, with a focus on strengthening its range of homegrown wines, doubling the number of low and…
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