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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Mar- 2023 -1 March
B&M announces store reshuffle
Discount retailer B&M has announced that it is closing a number of stores over the next few weeks not for financial reasons but as part of a reshuffle of its store estate According to The Mirror, the closures are due to some stores moving to bigger sites or other external…
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1 March
M&S set to increase salaries by 7% from April
British retailer M&S will raise the salary of more than 40,000 customer assistants by 7%, in a bid to help with the cost of living crisis. Starting from April, the hourly pay will jump from £10.20 to £10.90, an increase well ahead of the National Living Wage. Customer assistants in…
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1 March
Frasers seeks discounts from suppliers amid JD acquisitions
Frasers Group is reportedly seeking discounts on outstanding payments and spring/summer orders from its suppliers, Drapers has reported. According to reports, it is asking the suppliers of its recently acquired brands for a 10% discount off outstanding payments and a 20% discount off ordered goods for the spring/summer 2023 season.…
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1 March
Sainsbury’s to shut two Argos depots by 2026
Sainsbury’s has announced its plans to close two Argos depots in Basildon, Essex, and Heywood, Manchester, by 2026, which will impact a total of 1,400 jobs. The news comes as the supermarket chain plans to further “integrate and transform” its general merchandise logistics network in England with an investment of…
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Feb- 2023 -28 February
PM agrees new Brexit deal with EU for NI
Prime minister Rishi Sunak has agreed a deal with the head of the European Commission, Ursula von der Leyen, for new post-Brexit trade arrangements for Northern Ireland. The Windsor Framework replaces the old Northern Ireland Protocol, and aims to deliver free-flowing trade in goods between Great Britain and Northern Ireland…
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28 February
Grocery price inflation hits record 17% in February
Grocery price inflation rose to a record 17.1% in the four weeks to 19 February 2023, according to marketing data and analytics company Kantar. Based on the company’s monitoring of the take home grocery purchasing habits of 30,000 households across Great Britain, the analysis shows that grocery price inflation is…
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28 February
Pippa Wicks steps down as John Lewis director
Pippa Wicks, the executive director of John Lewis, has announced she is standing down from the group with immediate effect. She will be succeeded by Naomi Simcock, who is currently retail director of the brand, on an interim basis. Following Wicks’ departure, Simcock will lead the delivery of the 2023…
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28 February
Amazon workers to strike for second time
Workers at an Amazon warehouse in Coventry have begun a second day of industrial action in a dispute over pay and conditions. The action comes after workers were offered a 50p per hour pay increase, something they believe is not enough. The GMB union is calling for a pay rise…
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28 February
Ocado losses widen to £500m
Ocado Group has revealed its losses widened to £500m for the 52-week period ended 27 November 2022, as the online grocer said its retail revenues struggled amid the cost of living crisis. According to the update, Ocado reported its group revenues remained relatively flat at £2.5bn, however, its retail revenues…
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28 February
AO ups FY guidance amid improved margins
Online electrical retailer AO now expects its adjusted EBITDA to be in a range of £37.5m to £45m for the full year. The increase in the retailer’s profit guidance for the year to March 2023 comes as AO has continued to reduce costs and improve margins. As a result, the…
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