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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Feb- 2023 -27 February
Supermarket bosses set for talks with gov over food shortages
The government has reportedly summoned the UK’s supermarket bosses for talks in order to find a solution to stop food shortages across the UK. According to the Sun on Sunday, Food Minister Mark Spencer is to host talks with bosses in order to avoid food shortages which has caused a…
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27 February
John Lewis hires new design director
John Lewis has appointed Charlotta Elgh as its first director of design for home. The retailer revealed a shift in the design direction for home and Elgh will be spearheading this move with her spring collection. This will include moving away from multiple trends to introduce a new, “pared back…
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27 February
Primark owner raises guidance after better than expected trading
Primark owner Associated British Foods (ABF) has announced that it is raising its full-year guidance after Primark traded unexpectedly well. The company stated that its adjusted operating profit and adjusted earnings per share were now expected to be broadly in line with the previous financial year. Total sales at Primark…
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27 February
Adidas and West to sell leftover Yeezy stock in new agreement
Adidas has reached a new agreement with Kanye West that will ensure that the footwear brand sells the remaining $500m (£417.4m) in Yeezy sneaker stock. According to the retailer, the new contract will focus solely on the sale of the existing inventory of West’s shoe line and will not include…
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27 February
M&S appoints new non-executive director
Marks and Spencer has appointed a new non-executive director, Cheryl Potter, who will join the board as well as the nomination committee from 1 March 2023. Potter has previously worked as the head of the global consumer team at private equity firm Permira, building a highly successful track record as…
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24 February
Monsoon bolsters childrenswear offering with dedicated boutique
Fashion retailer Monsoon is set to open its inaugural childrenswear boutique, in Westfield, Stratford City. Opening on 1 March, the new store is located on the Ground floor, in the heart of the childrenswear part of the centre. The boutique is the latest in a series of new bricks-and-mortar openings for Monsoon, following the autumn 2022 openings…
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24 February
Sainsbury’s to offer staff four day work week
Sainsbury’s has reportedly offered its staff the option of working four days a week, according to The Times. Staff based at its head offices in Holborn, Coventry and Milton Keynes, as well as its warehouses, and store managers in its 1,400 UK stores will be given the option of a…
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24 February
UK consumer confidence rebounds to highest level since April 2022
UK consumer confidence has bounced back in February to its highest level in almost a year, demonstrating consumers’ resiliency in the face of the cost of living issue. According to the report published by Research group GfK, its index of consumer confidence rose by seven points to -38. The index,…
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24 February
B&Q and Screwfix staff to receive 8% pay rise
Kingfisher is reportedly set to increase the hourly pay rate for its B&Q and Screwfix staff by more than 8% year-on-year, Retail Week has revealed. The changes will be effective from the beginning of the new financial year. Shopfloor workers across both businesses will see their pay rise to £10.60…
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24 February
Farfetch CFO to stand down amid slowing revenues
Farfetch has announced that the group’s chief financial officer, Elliot Jordan, will step down by the end of 2023, after more than eight years in the role. The news comes as fourth quarter revenue fell 5% in 2022 to $629m (£523m), while its gross merchandise value decreased 12% in the…
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