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 -19 April
Sainsbury’s joins bidders for Planet Organic
Sainsbury’s has reportedly launched a bid for Planet Organic’s name and intellectual property assets, according to reports from Sky News. It is believed that any potential deal is likely to be implemented through an insolvency process. Sources told Sky said the grocer’s interest was “speculative” and downplayed the chances of…
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19 April
Inflation remains above 10% in March
Despite easing slightly, inflation remained above 10% in March thanks to food and drink costs reaching a 45-year high, according to the latest figures from the Office for National Statistics (ONS). The ONS found that the Consumer Prices Index (CPI) rose by 10.1% in the 12 months to March 2023,…
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19 April
ProCook revenues dip by 9.7% in Q4
UK’s specialist kitchenware brand ProCook has reported £12.6m of revenues for Q4, which ended on 2 April. The Q4 revenues, which have fallen -9.7% year on year, reflect “ongoing uncertainty in the consumer backdrop” and were driven primarily by a reduction in e-commerce including the discontinued Amazon channels. Full-year revenues…
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19 April
Halfords anticipates mid-term profit and sales boost
Halfords has predicted that it will see a rise in both profits and sales in both the mid-term and mid-to-long term, as announced at its Capital Markets Day for investors and analysts. In the mid-term, the group expects sales to grow to around £1.9bn and profit-before-tax to grow to £90-£110m.…
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19 April
ScS appoints new non-executive director
ScS, the upholstered furniture and flooring retailer, has announced the appointment of Swarupa Pathakji to the role of a non-executive director with effect from 2 May 2023. In her new role, Pathakji will become a member of the audit, remuneration and nomination committees. Pathakji is a director of Kings Yard…
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19 April
Matalan appoints new chief customer and omni-channel officer
Matalan has announced the appointment of Ali Jones as its new chief customer and omni-channel officer, effective from today (19 April). Jones, who was the customer and community director at the Co-operative from 2018 to 2022, will be responsible for establishing a new customer function within the retail group. According…
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18 April
Well Pharmacy acquires Lexon wholesaler
Bestway Group subsidiary Well Pharmacy has announced the acquisition of Lexon UK Holdings and Asurex Limited, pharmaceutical wholesalers for an undisclosed sum. Lexon is a family-owned business which has been in operation for over 25 years. It operates “primarily” as a pharmaceutical wholesaler serving 3,000 retail pharmacy customers across the…
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18 April
Bensons for Beds sales rise 9% in Q2
Nationwide bed and mattress retailer Bensons for Beds has reported like-for-like sales for the quarter to end of March rose by 9%, building on the 7% like-for-like sales growth in the previous quarter. Further progress has also been made in its digital offer, with sales over the quarter in the…
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18 April
Superdrug to invest in 25 new stores
Health and beauty retailer, Superdrug, has announced plans to invest in 25 new stores this year, expanding its bricks-and-mortar retail footprint. It said the venture is expected to create over 570 jobs nationwide, creating a “seamless customer experience” and provide support for high streets and local communities. The investment is…
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18 April
THG faces takeover bid as FY losses widen
THG has seen its operating loss more than double to £495.6m in the preliminary results for FY22, which closely follow rumours of a fresh takeover bid from US private equity firm Apollo. The group attributed its losses to a non-cash impairment of £275.4m, as well as costs relating to a…
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