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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Apr- 2023 -27 April
Boohoo appoints John Goold as new board member
Boohoo has announced the appointment of John Goold to its board as an independent non-executive director. Goold will become chairman of the Audit Committee and he will also be a member of the Nomination, Remuneration and Risk committees. He began his career by qualifying as a chartered accountant in 1996…
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27 April
Kering Q1 revenues hit €5bn amid ‘mixed’ results
Luxury goods company Kering has reported revenues of €5bn (£4.4bn) in its first quarter, up 2% on a reported basis and 1% on a comparable basis, though warned its overall performance remains “mixed”. Gucci sales in the directly operated store network grew 1% on a comparable basis relative to the…
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27 April
Hotel Chocolat warns sales to be lower than expected in FY23
Hotel Chocolat has reported that it expects sales in FY23 to be slightly lower than market expectations and that underlying PBT will be breakeven, according to its new trading statement and update on its strategic progress. It said that second half trading to 23 April achieved high seasonal full price…
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27 April
Frasers Group to unveil own version of Amazon Prime
Michael Murray, the chief executive of Frasers Group, has revealed at this year’s World Retail Congress in Barcelona that the group will be unveiling its own version of Amazon Prime, Retail Week has reported. The new membership scheme, which will be called ‘Frasers Plus’, would be a membership programme and…
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27 April
M&S invests £12.5m into London store estate
M&S is investing £12.5m into its stores across London in the coming year, in a move that will create 200 jobs and double the total new square footage secured across its store estate last year. Over the last year, the group invested £10.3m into London, creating 200 jobs, meaning the…
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26 April
Puma Q1 sales jump 14% to €2.2bn
Sportswear giant Puma has revealed its first quarter sales jumped 14% to €2.18bn (£1.93bn) boosted by strong sales in its EMEA region and a return to growth in China for the first time in two years. It said its sales performance was driven by a 28.8% increase in footwear sales…
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26 April
Tesco and M&S among first to join Compostable Coalition UK
Representatives from Tesco, Marks and Spencer and Ocado Retail are among the first to be named as Compostable Coalition UK advisory board members. Compostable Coalition UK has assembled the advisory board as part of its UK Research and Innovation funded ‘Closing the Loop for Compostable Packaging’ research project. Funded by…
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26 April
Screwfix to install defibrillators in all nationwide stores
Screwfix, the British retailer of trade tools, has partnered with the British Heart Foundation to install defibrillators in all of its stores in the UK and Ireland. This will make it the first trade retailer to roll out defibrillators on a mass scale. It’s estimated that tens of thousands of…
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26 April
John Lewis names first head of loyalty as it rolls out more rewards schemes
John Lewis Partnership has partnered with customer loyalty and marketing experts dunnhumby and Eagle Eye to create more benefits for customers, and also appointed the department retailer’s first ever head of loyalty, Emily Wells. The news comes as the company signalled its intent to invest in data and loyalty earlier…
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26 April
Pret A Manger hikes price of coffee subscription as it expands offering
Pret A Manger has increased its monthly coffee subscription by 20% to £30 per month and expanded it to include a discount on all of its freshly made food, snacks and drinks. It said existing coffee subscribers will automatically become part of ‘Club Pret’ and their current monthly price of…
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