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 -8 June
The White Company begins search for new London stores
The White Company has launched a search for five new London stores as part of its plans to expand, Drapers has reported. The news comes as a few UK retail property agents have been sent a list of locations that the retailer would like to open stores in, including Blackheath,…
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8 June
John Lewis chair pledges return to profit before 2026
Sharon White, chair of the John Lewis Partnership, has promised that the company will return to profit before 2026, in a speech to the Employee Ownership Association. After three consecutive years of posting losses White stated that the five-year plan started in 2021 would “get the partnership back to sustainable…
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8 June
Global Fashion Group appoints CEO of The Iconic
Global Fashion Group (GFG) has appointed Jere Calmes as chief executive officer of The Iconic. Calmes is described as a “seasoned” executive with over 25 years of leadership experience across multiple sectors, and is rejoining GFG after a three-year tenure as CEO of Lamoda, which GFG sold in late 2022. …
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8 June
Asos head of commercial change steps down
Asos head of commercial change and operations, Anthony Benham, has left the online retailer after 16 years. Benham started working for Asos in 2006 as a senior menswear merchandiser. In 2012, he was promoted to retail project manager, and in 2016, he was made a senior business change partner. He…
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7 June
Frasers Group raises Asos stake
Mike Ashley’s Frasers Group has increased its stake in online retailer Asos from 7.4% to 8.8% according to a shareholder update posted yesterday. Frasers is currently Asos’ fourth largest shareholder having originally increased its stake to over 5% back in October of last year. The news comes as the embattled…
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7 June
Sainsbury’s rolls out Nectar Prices across new categories
Sainsbury’s has announced that it is expanding Nectar Prices into new categories by introducing offers on dairy and bakery products for the first time. The scheme will now apply to a range of dairy products including Cathedral City mature cheese (usually £4.75, Nectar Price £2.75), Philadelphia cheese (usually £2.20, Nectar…
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7 June
M&S swaps ‘Use By’ with ‘Best Before’ dates on fresh milk
Marks and Spencer is swapping the ‘Use By’ dates with ‘Best Before’ ones across its RSPCA Assured Select Farms British and organic fresh milk in a bid to halve food waste by 2030. M&S is the first grocer to offer ‘Best Before’ labelling on fully recyclable milk bottles after having…
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7 June
Stitch Fix explores UK exit amid falling revenue in Q3
Stitch Fix is exploring the possibility of exiting the UK market in FY23, after its net revenue decreased 20% year-over-year to $394.9m (£316.7m) in the third quarter ended 29 April. According to Stitch Fix, since first entering the UK market in 2019, the macroeconomic environment and the group have changed. …
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7 June
UK consumers feeling cost-of-living more than EU counterparts, EY finds
Cost-of-living pressures have affected UK consumers more than their European counterparts, according to the latest EY UK Future Consumer Index. The 12th edition of EY’s survey of 1,000 UK consumers found that 62% of UK consumers say they are “extremely concerned” by the cost-of-living squeeze, compared with 50% in the…
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7 June
N Brown appoints new CFO
N Brown has named Dominic Appleton as its new chief financial officer, succeeding Rachel Izzard who has stepped down after three years. Appleton joined the Manchester-based clothing and footwear retailer as chief financial officer designate in March of this year and has now been appointed CFO and a board director…
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