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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May- 2023 -25 May
A&F sales hit $836m in Q1
Abercrombie and Fitch has reported a 3% increase in net sales to $836m (£675m) for the first quarter of 2023. The retailer’s signature brand, Abercrombie, reported $436m (£352m) in net sales while Hollister reported $399m (£322m). Gross profit for the retailer was $509m (£411m), compared to $449m (£362m) for the…
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25 May
Crew Clothing CEO ousted by group’s owner
Crew Clothing’s CEO has reportedly been ousted by the group’s owner, This is Money has reported, with other senior executives reportedly departing behind him. Sources familiar with the matter said Brigadier Acquisition Company made the decision to oust David Butler earlier this month. His departure is understood to have been…
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25 May
Pets at Home profits fall despite increased revenues
Pets at Home has announced that its profit before tax has dropped 17.7% to £122.5m for the year ended 30 March 2023. The company stated that this was down to the gain on the sale of its Specialist Group in FY22 and the costs of bringing its new DC onstream…
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25 May
Card Factory launches first click and collect service
Card Factory has launched its first UK-wide click and collect service, following the success of a trial period across 87 stores. The new service is available via its website, app and at over 1,000 stores excluding Jersey or the Republic of Ireland. Customers can choose from a range of gifts,…
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25 May
Urban Outfitters owner sees sales hit £900m in Q1
URBN, parent company of Urban Outfitters, Anthropologie and Free People, has seen net sales rise 5.9% to a record $1.11bn (£900m) for the three months ended 30 April. Over the period, the group also reported a net income of $53m (£42.8m) and record earnings share of $0.56 (£0.45). Total retail…
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24 May
Sainsbury’s to sell 100% MSC certified tuna at lower price
Sainsbury’s has become the first big four supermarket to sell 100% MSC (Marine Stewardship Council) certified canned tuna, in a bid to strengthen its commitment to sustainable fish sourcing. The grocer is already leading the way in responsible fish sourcing and is committed to 100% of seafood sales being independently…
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24 May
VF Corp FY revenues dip as Vans sales fall
VF Corp, the owner of brands such as Vans, The North Face and Timberland, has seen its revenues dip by 2% to $11.6bn (£9.4bn) in FY23 amid a “challenging” consumer environment. North Face performed better than expected however, with sales up by 11% to $3.6bn (£2.9bn) in the full-year period.…
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24 May
Co-op and Starship expand robot delivery service in Yorkshire
The partnership between Starship Technologies and The Co-operative is rolling out autonomous grocery deliveries from today (24 May) to local residents in Wakefield, Yorkshire. The service has been made available to 13,000 residents across over 6,500 households, with orders made through the Starship food delivery app. Groceries will be picked…
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24 May
Inflation falls to 8.7% in April
Inflation has fallen to 8.7% in April, marking the first time it has been in single digits since last summer, according to the latest figures from the Office for National Statistics. Inflation was down from 10.1% in March 2023 and increased by 1.2% in April 2023, compared with a rise…
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24 May
Uniqlo permanently closes stores in Russia
Japanese retailer Uniqlo has recently announced it is leaving Russia after the suspension of its operations last year, Reuters has reported. In March 2022, after Russia embarked on a military operation in Ukraine, Uniqlo was one of the many international companies to interrupt operations in the country. In an official…
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