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 -13 April
Sainsbury’s to restructure logistics operations
Sainsbury’s has announced that a major restructuring of its logistics operations will affect almost 7,000 staff throughout the UK. According to the retailer, no one will lose their job or get moved to other contractual terms, as the logistics shake-up only means that service and availability will be made better…
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13 April
Tesco profits halve as inflation hits business
Tesco has seen its full-year profits plunge by 50.8% to £1bn, down from £2.03bn the prior year, as inflation took its toll on the supermarket’s business throughout the year. Despite the cost-of-living crisis, revenues rose by 7.2% to £66m and retail like-for-like sales rose by 5.1%, yet the group was…
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12 April
VF Corporation unveils new Dickies global brand president
VF Corporation has appointed Todd Dalhausser, previously brand president of Altra, to the position of global brand president at Dickies as part of a number of key leadership appointments. He will report to Benno Dorer, VF’s interim president and CEO, and serve on VF’s executive leadership team. Dalhausser joined VF…
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12 April
CBI sacks director general amid misconduct claims
The Confederation of British Industry (CBI) has dismissed its director general Tony Danker following allegations of misconduct. Last month, it was revealed that Danker was to step away from his role due to an investigation into complaints concerning his conduct in the workplace. The CBI had engaged employment law at…
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12 April
Games Workshop appoints new non-executive director
Miniature wargames manufacturer Games Workshop has recently announced the appointment of Mark Lam as non-executive director at the company. The group said Lam has many years of experience in telecommunications and information technology, having previously been chief technology and information officer of Openreach and a senior executive at BT Group. …
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12 April
Sosandar swings to FY profit as revenues rise 44%
Sosandar is set to welcome its first full-year of profitability in what it called a “milestone” year for the group, expecting profits of at least £1.6m, a “substantial” positive swing of £2.2m from the £0.6m loss in FY22. It comes as revenues rose by 44% to £42.5m in the year…
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12 April
Marks Electrical revenues up 21.5%
Marks Electrical has seen its FY revenues jump 21.5% to £97.8m, up from £80.5m, for the 12 months ended 31 March 2023. Alongside this, its revenues for the three months ended 31 March were up 20% from £20.7m to £24.8m. It revealed the strong performance was driven by many product…
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12 April
Footasylum to expand store portfolio amid increased demand
Footasylum, the retailer of fashion streetwear and sportswear, has announced its plans for a series of new store openings and upgrades across the country in the year ahead. The plans come as the retailer has experienced a “notable” increase in demand for its womenswear, following the recent opening of a…
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11 April
Tesco eyes supplier price cuts in bid to lead supermarket deflation
Tesco is reportedly set to push suppliers for price cuts as it looks to pass on lower prices to consumers and drive down food price inflation, according to The Sunday Times. The outlet cited Ged Futter, director at The Retail Mind, who claimed Tesco is trying to “lead the supermarket…
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11 April
Footfall surges 18.6% on Good Friday
Good Friday footfall (up to 5pm) has provided a welcome boost to retailers as it surged by 18.6% compared with the previous week, according to a new report by Springboard. The footfall in high streets was 26% higher than the previous Friday by 5pm and 8.5% higher than the week…
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