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.
-
Feb- 2023 -21 February
Tesco gives staff third pay rise in 10 months
Tesco has announced that it has agreed to raise its staff’s hourly wages by 72p from £10.30 to £11.02. This represents the third pay increase given out by the supermarket in the last 10 months and an investment of more than £230m. The combined investment in hourly pay over the…
Read More » -
21 February
Marks & Spencer launches The Sport Edit following acquisition
Marks & Spencer has launched The Sports Edit on M&S.com, following the acquisition of the sports platform at the beginning of 2022. The new sportswear collection will include more than 200 sportswear and apparel products across women’s activewear and apparel from third-party brands including Beyond Yoga, FP Movement, Girlfriend Collective…
Read More » -
21 February
Asda appoints new chief customer officer
Asda has announced the appointment of David Hills as the retailer’s new chief customer officer. The current acting CCO, Sam Dickinson, will continue in the role until Hills arrives. Currently, Hills is the current group director of marketing and communications at Aldi. He joined the discounter in 2007 where he…
Read More » -
21 February
Shein targets huge revenue growth ahead of IPO
Shein has reportedly set plans to nearly double its revenue to almost $60bn ($50bn) by 2025, whilst telling investors it is readying for an IPO later this year. According to a presentation seen by the Financial Times, the online fashion group said it was targeting full-year revenues of $58.5bn (£48.8bn)…
Read More » -
20 February
Aldi eyes London store estate expansion
Aldi has announced it is looking to increase its presence in London and around the M25 as part of a multi-million pound expansion plan. The supermarket has pledged to almost double its 60-strong estate within the M25 and create around 2,400 jobs. Aldi currently has more than 990 stores across…
Read More » -
20 February
Nearly 15,000 retail jobs lost in 2023
Nearly 15,000 retail jobs have been lost since the start of the year, according to new data from the Centre for Retail Research. It found that 14,874 jobs have been lost as a result of either administration or cost cutting because of the cost of living crisis. Over 11,000 jobs…
Read More » -
20 February
Amazon to ask workers to return to office
Amazon has announced that it will be asking its staff to return to the office for at least three days per week, effective 1 May. In a letter to staff, CEO Andy Jassy said the decision was made at a s-team meeting last week. He said that “for a number…
Read More » -
20 February
Tesco explores sale of banking arm
Tesco is reportedly set to launch a review of its banking arm which could lead to the sale of the business. According to Sky News, the supermarket giant is drafting in Goldman Sachs to help advise on the future of Tesco Bank. Sources told Sky that the review was at…
Read More » -
17 February
Harvey Nichols appoints ecommerce director
Harvey Nichols has announced the appointment of Annabel Thorburn, the current senior vice president of ecommerce at Sweaty Betty, as its new ecommerce director, Drapers has reported. Thorburn, who will report to CEO Manju Malhotra, will take up her new role at the high end department store on 17 April,…
Read More » -
17 February
UK retail sales unexpectedly rise due to January discounts
Retail sales volumes in the UK are estimated to have increased by 0.5% in January 2023, according to data from the Office for National Statistics (ONS). Price rises and the cost of living crisis had seen retail sales drop 1.2% in December 2022 but post-Christmas discounts and increased fuel sales…
Read More »
