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 -25 April
Grocery price inflation dips as Aldi secures 10% market share
Grocery price inflation rose by 17.3% in the four weeks to 16 April 2023, down marginally on the 17.5% recorded in the previous four weeks, according to the latest data from Kantar. Amid rising prices, both Aldi and Lidl hit new record market shares over the latest 12 week period…
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25 April
JD Sports appoints two new directors to board
JD Sports has appointed Angela Luger and Darren Shapland as its newest non-executive directors, with effect from 1 June 2023. Following their appointments, Luger will join the remuneration committee while Shapland will join the audit and risk committee. Luger brings a “wealth” of retail and non-executive director experience to the…
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25 April
Primark H1 sales rise 19% to £4.2bn
Associated British Foods (ABF), Primark’s parent company, has revealed that sales rose at the high street fashion retailer by 19% to £4.2bn in the half-year ended 4 March 2023. According to ABF, Primark’s adjusted operating profit also reached £351m with a margin of 8.3%, due to strong like-for-like sales that…
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25 April
Zalando launches virtual fitting rooms
Zalando, one of Europe’s leading platforms for fashion and lifestyle, is piloting a virtual fitting room experience with millions of customers across all markets. In a dedicated campaign environment, customers are able to create a 3D avatar by inputting their height, weight and gender. For a selected range of jeans…
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24 April
Lidl continues search for new sites
Lidl GB has set out its intentions to expand its store estate across the country with a list of priority locations for new stores. The update comes after Lidl welcomed a record number of new shoppers to its stores in 2022, as over 1.4 million switched to Lidl from other…
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24 April
Coronation weekend to boost footfall by 4%
The Coronation weekend is set to boost footfall by 4.0% compared to 2022 across all UK retail destinations, MRI Springboard has predicted. According to its analysis, high street retailers can expect a “significant” boost over the weekend, with footfall up 12.0% from 2022 on the bank holiday Monday following the…
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24 April
Gymshark profits slip by 38.7% in FY22
Gymshark has revealed that its profits slipped by 38.7% for the year ended 31 July 2022, citing soaring production costs and customers with less disposable income as the reason behind its performance. The news comes as the Birmingham-based athletic clothing retailer, which opened its first brick-and-mortar store on Regent Street,…
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24 April
Kering set to pay £13m rent for Bond Street store
Luxury retailer Kering is set to pay £13m or more per year for a new Yves Saint Lauren store on Bond Street, according to the Sunday Times. This figure of £13m is thought to be a UK record surpassing the £11m paid by Ralph Lauren for its Bond Street store…
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24 April
Retail profit warnings fall to lowest level since 2020
UK-listed retailers issued five profit warnings in Q1 2023, marking a decrease from the nine issued in both Q4 2022 and Q1 2022, according to the latest data from EY. Despite representing the sector’s lowest quarterly total since Q4 2020, it said “persistent inflation, high interest rates and tightening consumer…
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24 April
Levi Strauss appoints new chief marketing officer
Levi Strauss & Co has recently announced the appointment of Kenny Mitchell as senior vice president and chief marketing officer of the brand, effective from June 5. Mitchell will be responsible for advancing the brand’s consumer marketing strategies, focused on building denim leadership equity, cementing its position as a lifestyle…
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