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 -19 April
UK retailers should focus on Eid, says GlobalData
Leading data and analytics company GlobalData is advising UK retailers to appeal to younger cash-strapped consumers who are celebrating Eid. GlobalData’s UK Consumer Views report conducted on 2,000 nationally representative shoppers revealed that 24.4% of consumers aged 25-34 plan to celebrate the holiday, followed by 20.8% of those aged 16-24…
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19 April
Co-op launches new member prices amid £240m investment
Co-op is set to invest more than £240m into its membership proposition across the next five years in a bid to target a million new members, whilst launching new member price benefits for its customers. As part of the major investment, Co-op is introducing new and lower prices which will…
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19 April
Brunello Cucinelli revenues jump 34.7% in Q1
Brunello Cucinelli has revealed that for the first quarter of 2023, net revenues jumped by 34.7% to €265.3m (£233.5m) compared with the same period last year. The news comes as the luxury fashion house has experienced growth in all geographical areas, with the Americas growing by 42.9%, Europe by 15.8%,…
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19 April
Sainsbury’s joins bidders for Planet Organic
Sainsbury’s has reportedly launched a bid for Planet Organic’s name and intellectual property assets, according to reports from Sky News. It is believed that any potential deal is likely to be implemented through an insolvency process. Sources told Sky said the grocer’s interest was “speculative” and downplayed the chances of…
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19 April
Inflation remains above 10% in March
Despite easing slightly, inflation remained above 10% in March thanks to food and drink costs reaching a 45-year high, according to the latest figures from the Office for National Statistics (ONS). The ONS found that the Consumer Prices Index (CPI) rose by 10.1% in the 12 months to March 2023,…
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19 April
ProCook revenues dip by 9.7% in Q4
UK’s specialist kitchenware brand ProCook has reported £12.6m of revenues for Q4, which ended on 2 April. The Q4 revenues, which have fallen -9.7% year on year, reflect “ongoing uncertainty in the consumer backdrop” and were driven primarily by a reduction in e-commerce including the discontinued Amazon channels. Full-year revenues…
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19 April
Halfords anticipates mid-term profit and sales boost
Halfords has predicted that it will see a rise in both profits and sales in both the mid-term and mid-to-long term, as announced at its Capital Markets Day for investors and analysts. In the mid-term, the group expects sales to grow to around £1.9bn and profit-before-tax to grow to £90-£110m.…
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19 April
ScS appoints new non-executive director
ScS, the upholstered furniture and flooring retailer, has announced the appointment of Swarupa Pathakji to the role of a non-executive director with effect from 2 May 2023. In her new role, Pathakji will become a member of the audit, remuneration and nomination committees. Pathakji is a director of Kings Yard…
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19 April
Matalan appoints new chief customer and omni-channel officer
Matalan has announced the appointment of Ali Jones as its new chief customer and omni-channel officer, effective from today (19 April). Jones, who was the customer and community director at the Co-operative from 2018 to 2022, will be responsible for establishing a new customer function within the retail group. According…
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18 April
Well Pharmacy acquires Lexon wholesaler
Bestway Group subsidiary Well Pharmacy has announced the acquisition of Lexon UK Holdings and Asurex Limited, pharmaceutical wholesalers for an undisclosed sum. Lexon is a family-owned business which has been in operation for over 25 years. It operates “primarily” as a pharmaceutical wholesaler serving 3,000 retail pharmacy customers across the…
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