News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Jul- 2023 -10 July
Levi’s revenues dip 9% in Q2
Levi Strauss and Co recently reported a 9% revenue decrease to $1.3bn (£1bn) for the period ended in May 2023. Wholesale net revenues decreased 22% on reported and constant-currency bases as strong growth in Asia and Latin America was offset by declines in North America and Europe. In the American…
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10 July
Amazon warehouse workers to strike during Prime Day
Labour union GMB has announced that nearly 900 Amazon workers at Amazon’s Coventry warehouse in Britain will strike for three days during its Prime Day event over a pay dispute, according to a Reuters report. In an emailed statement to Reuters, GMB said the strike will take place from 11-13…
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10 July
Boohoo to contact market regulator amid ongoing Revolution battle
Boohoo is reportedly drafting a letter to the junior stock market regulator over plans to requisition an upcoming Revolution Beauty EGM amid the escalating row between the two companies. According to Sky News, the retailer will contact AIM regulatory authorities to demand that Revolution clarifies an earlier stock exchange announcement…
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10 July
Iceland expects profits to hit 10-year high
Iceland expects to deliver its “highest” profit in over a decade due to its increased focus on value and cost-saving measures, The Times has reported. According to The Times, Iceland told bondholders last week that it was “confident” this year’s underlying profit will be its strongest in 10 years, exceeding…
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7 July
LFL sales nudge up 1.9% in June, BDO finds
Like-for-like retail sales improved marginally in June, up 1.9%, according to new data from BDO LLP. The latest BDO’s high street sales tracker shows that LFL sales growth remains well below CPI inflation, meaning that sales volumes have fallen significantly as consumers continue to tighten the purse strings. Sophie Michael,…
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7 July
Virgin Wines agrees strategic partnership with WH Smith
Virgin Wines has announced it has signed a new strategic partnership with WH Smith Travel which will see it stocked in a number of stores. The company said the agreement represents “significant progress” for Virgin Wines as part of the group’s strategic focus on commercial partnerships. An exclusively curated range…
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7 July
Argos to close 100 stores over the next year
Argos is reportedly planning to shut down more stores next month as part of plans to close 100 sites over the next year, according to The Sun. The retailer has already shut down 37 shops this year, including all the branches in Ireland. Owned by Sainsbury’s, Argos is now planning…
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7 July
Heatwave dampens June footfall
Footfall fell -1.9% in the five weeks from 28 May to 01 July 2023 as hot weather meant that shoppers strayed from the high street, according to BRC-Sensormatic IQ data. The fall was worse than the three-month average increase of -1.1% and comes as high street footfall increased by 0.6%…
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7 July
ProCook appoints new CEO
ProCook Group plc, the UK’s direct-to-consumer specialist kitchenware brand, has announced the appointment of Lee Tappenden as the group’s CEO. The news comes after Daniel O’Neill’s indication earlier this year of his intention to step back from the CEO role, as set out in the group’s preliminary results announcement on…
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7 July
JD Sports to acquire remaining shares of ISRG for €500m
JD Sports has announced its intention to acquire the remaining 49.98% shares in Iberian Sports Retail Group (ISRG) that are currently held by Balaiko Firaja Invest and Sonae Holdings for a total of €500.1m (£427.1m). The acquisition will be funded from the group’s existing available cash resources, and upon completion,…
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