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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Jun- 2023 -28 June
Boots to close 300 stores despite strong Q3 sales
Boots will reportedly shut 300 branches across the UK over the coming year, despite the group’s retail sales increasing by 13.4% in its third quarter of trading, as the retailer looks to consolidate the business. According to the BBC, the move will see its portfolio fall from 2,200 stores to…
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28 June
Boohoo airs ‘serious concerns’ over Revolution Beauty board changes
Boohoo has raised “serious concerns” about the conduct of the Revolution Beauty board after the company fired and rehired its directors at its AGM. Revolution chief executive Bob Holt, finance boss Elizabeth Lake, and chairman Derek Zissman were all voted out of their positions with a nearly 75% majority for…
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27 June
Sainsbury’s invests a further £15m in price cuts
Sainsbury’s has announced a £15m investment to cut the price of cupboard staples such as rice and pasta to help customers manage their budgets. The retailer will also become the only supermarket to offer Freefrom pasta at the same price as standard pasta as part of the price cuts. This…
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27 June
Vistamusic.com relaunches Dawsons following acquisition
Online music retailer, Vistamusic.com, has relaunched Dawsons following its recent acquisition of the music retailer. Dawsons, which was first established 120 years ago, has been recognised as a trusted name among musicians of all levels and will return under Caldecott Music Group, the owner of NME Networks. According to Vista…
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27 June
Shop price inflation falls to 8.4% in June
Shop price inflation in the UK has fallen to 8.4% in June, down from 9% in May, according to new data from the British Retail Consortium. The inflation figure for June is also below the three month rolling average of 8.7%. The fall in inflation was led by a decrease…
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27 June
Ocado appoints new non-executive director
Ocado Group has appointed Rachel Osborne as an independent non-executive director with effect from September 2023 amid recent takeover speculations. Osborne will also be a member of the audit committee and the people committee, such appointments taking place on the date of her appointment to the board. She was previously…
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27 June
Hot weather fails to tempt shoppers as footfall drops by 2.3%
The recent hot and sunny weather failed to tempt shoppers last week, as footfall across all UK retail destinations fell by -2.3% against the week before, according to new data from MRI Springboard. This was a “sharp” contrast with the week before last, when footfall rose by an average of…
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27 June
JD Sports on track to hit £1bn in profits this year
JD Sports has revealed that the headline profit before tax and adjusted items for the year ending 3 February 2024 will be in line with the group’s expected £1.04bn. The board said it also expects that the phasing of the profit in the current year will reflect a “normalised” trading…
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27 June
Asos appoints sustainability expert as ESG chair
Asos has announced the appointment of Anna Maria Rugarli as non-executive director and chair of the ESG Committee. Rugarli is a sustainability and CSR expert with more than twenty years of experience working with leaders in global apparel, including Nike Inc. and VF Corporation. She has specialised in creating “innovative”…
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26 June
Claire’s appoints new chief merchandising officer
Claire’s has announced the appointment of Claudia Lima-Guinehut as executive vice president and chief merchandising officer. Lima-Guinehut will lead the company’s global merchandising, sourcing, and design strategy as well as the brand’s industry-leading piercing business. With a proven track record of more than 20 years of creating compelling multi-channel product…
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