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 -9 June
Carhartt appoints vice president of global merchandising
Retail apparel and fashion brand Carhartt has appointed Tara Roemke as vice president of global merchandising. Roemke has over 20 years of experience in the retail industry and since then has worked in several merchandising roles. She joins from Ariat International where she worked for 13 years as senior director…
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9 June
Frasers ups stake in Asos for second time in a week
Mike Ashley’s Frasers Group has upped its stake in embattled online retailer Asos for the second time this week. Frasers has increased its stake to 9.8%, up from the 8.8% established on Tuesday ( 6 June). The investment has sparked rumours of potential interest in a takeover offer with the…
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9 June
Mothercare CEO steps down after five months
Mothercare CEO Daniel Le Vesconte has stepped down from his role with immediate effect after only five months. Vesconte joined Mothercare from Abercrombie and Fitch in January after having roles at Airwair International, owner of Dr Martens and Vans. He was the first CEO of Mothercare since 2020 after covid…
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9 June
Shoe Zone ups guidance as trading ‘exceeds expectations’
Shoe Zone has raised its full-year guidance after recently announcing that trading has exceeded expectations since the release of its interim results on 16 May 2023. The company said that the improvement is due to “particularly strong recent trading through May and early June” and that “this is a combination…
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9 June
Timpson FY profits beat expectations at £40m
Timpson Group has welcomed full-year profits of £40.7m in FY22, up from £24.5m the prior year, “way beyond” the group’s expectations as it benefited from the lifting of Covid restrictions. In the full-year ended 1 October 2022, its turnover also hit £297.4m, up from £212.2m the year before. The group…
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9 June
EG Group to amend and extend loan following Asda deal
Retail and petrol forecourt company, EG Group, has announced that it will seek to amend and extend its banking loans following the sale of its UK operations to Asda’s Issa Brothers. This three-year amendment and extension will reportedly apply to the group’s remaining $3.4bn (£2.7bn) of term loans due in…
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8 June
M&S introduces ‘Beauty Takeback’ scheme
Marks and Spencer has announced a partnership with beauty recycling experts, HANDLE, to launch a ‘Beauty Takeback’ scheme in over 40 stores across the country. This scheme will see hard to recycle beauty packaging materials and components that commonly end up in landfill to be recycled are turned into new…
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8 June
Aldi to open 5 new sites
Supermarket chain Aldi is set to open five new stores across the UK in the coming weeks. The grocer, which currently has more than 990 UK stores, will be opening new locations in June including Southampton and Whittlesey. Further stores in Norwich, Castle Donington and Porthcawl will also open in…
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8 June
Bensons for Beds appoints chief retail officer
Bensons for Beds today has confirmed the appointment of Paul Owen to join its leadership team as chief retail officer. Owen will join Bensons after almost three years as board member and director of store operations for Magnet Limited. The group said he has “significant experience” of the bed and…
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8 June
Tesco and Morrisons ban Chinese state-owned CCTV cameras
Tesco and Morrisons have recently stopped purchasing Chinese-made CCTV cameras amid privacy and human rights concerns, The Telegraph has reported. Morrisons is the latest grocer to remove the equipment supplied by Hikvision and Dahua over their alleged involvement in the persecution of the Uyghur Muslim minority in North-West China. The…
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