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 -1 June
Nike appoints new Converse CEO
Nike has announced that Jared Carver will succeed Scott Uzzell as the new president and CEO of Converse, effective 1 June. Carver will report to John Donahoe, president and CEO, NIKE, Inc. Scott Uzzell has transitioned to a new role as VP/GM, North America for Nike. Carver is a consumer-first…
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1 June
Government’s red tape driving up prices for food firms, warns Iceland
The government’s red tape and regulations are “driving up” costs for British food businesses, Iceland has warned. According to The Times, the company has warned of the cost burdens related to imposed restrictions on promoting foods that are high in fat, sugar and salt. It also said the proposed post-Brexit…
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1 June
WHSmith to bring Toys R Us back to the UK high street
WHSmith and Toys R Us have today announced the locations of nine WHSmith High Street stores which will be unveiling new Toys R Us shop-in-shops from this month to bring the children’s toy brand back to the UK high street. Customers visiting these stores will be welcomed by a life-size…
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1 June
Dr Martens profits drop 29% to £128m
Dr Martens has reported that its profit after tax declined 29% to £128m for the year ended 31 March 2023, despite generating revenues of £1bn for the first time. It stated that its profit before tax was down because of higher depreciation and amortisation, a £3.9m impairment charge and a…
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1 June
Cotton Traders hails ‘most successful’ year to date
Fashion retailer Cotton Traders has welcomed its “most successful financial year to date”, announcing it has increased its yearly turnover by 10.6% to £111m. The company has attributed its performance to a 17% year-on-year increase in new customers gravitating to the brand, as well as a 7.5% increase in its…
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May- 2023 -31 May
Tommy Hilfiger and Calvin Klein sign deal at Caledonia Park
Tommy Hilfiger and Calvin Klein have signed at Caledonia Park, Scotland’s premium designer outlet village, following a record-breaking first quarter for the destination. According to Railpen, Tommy Hilfiger will occupy a 5,000 sq ft store at the park, while Calvin Klein 4,100 sq ft. Due to open next year, they…
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31 May
Sainsbury’s launches new initiative to tackle food poverty
Sainsbury’s has announced that it will donate 50p from every product sold in the ‘Inspired to Cook’ range to Comic Relief between now and 11 July, as part of the retailer’s ‘Nourish the Nation’ initiative to help tackle food poverty. Every 50p donated by the supermarket chain will fund the…
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31 May
UK supermarkets see sales up 12.3% in May
UK supermarkets experienced a 12.3% uplift in total till sales over the last four weeks ending 20 May 2023, up from 9.7% in April, according to the latest data from NIQ. UK supermarkets (stores over 3000 sq ft) experienced the biggest uplift in sales during the week of the Coronation…
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31 May
WHSmith raises guidance ahead of summer
WHSmith has announced that it is raising its profit guidance for FY23 as it hedges its bets on a strong summer travel demand. The company saw its travel sales increase 31% for the 13 weeks to 27 May 2023, compared with the same period last year. Its total travel sales…
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31 May
Summer bank holiday boosts UK footfall by 5.4%
Over the May summer bank holiday weekend, footfall increased by 5.4% across all UK retail destinations, according to the latest report by Springboard. High streets benefited from the long weekend, with footfall up 8.5% compared with 2022 whilst retail parks experienced 5.2% uplift on bank holiday Monday. Footfall soared over…
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