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 -18 April
B&M axes online home delivery offering
B&M has axed its online home delivery service after trialling the offering, according to coverage from Retail Week. According to Retail Week, the discount retailer was still offering home delivery through its website in January but discovered that the service was made unavailable in February. The service was first launched…
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18 April
Food and drink inflation in supermarkets surges 17.2% in March
Overall food and drink inflation in supermarkets rose 17.2% in March, up from 16.5% last month, according to data from Which?. The price of porridge oats increased 35.5% across Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose compared with last year. Alongside this the price of cheddar cheese rose…
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17 April
M&Co to close 43 shops by end of April
Scottish chain store M&Co has confirmed the closure of 43 of its sites by the end of the month. The move comes after M&Co announced that the company will close all its 170 shops after going into administration a few months ago. It has since been bought by AK Retail…
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17 April
Retail M&A deals up 30% since pre-pandemic times, study finds
The number of UK M&A deals targeting retailers has increased by 30% since before the pandemic, with 34 retail M&A deals announced in 2022 compared with 26 in 2019, according to research by international law firm, RPC. This marks only a marginal decline from 35 retail deals in 2021 –…
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17 April
Asda to trial driverless deliveries in London
Asda has partnered with Wayve self-driving vehicles in a year-long trial that will give the supermarket the ability to autonomously deliver groceries to over 170,000 residents across 72,000 households in London. The Wayve self-driving vehicles will join Asda’s existing online delivery operation at the Park Royal superstore in West London…
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17 April
Just Hype rescued in pre-pack administration deal
Streetwear brand Just Hype has been rescued from collapse following a pre-pack administration deal, according to Drapers. Drapers reported that investor Sarjan Dulai has acquired the business for an undisclosed sum in a move that has saved 82 jobs. The Leicester brand had reportedly faced collapse amid falling sales and…
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17 April
Pretty Little Thing CEO steps down
CEO of Pretty Little Thing Umar Kamani has announced he is stepping down from his role after 12 years in charge. Kamani, who set the company up with his brother in 2012, said that he would still continue to support the brand on some projects until a new CEO is…
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17 April
Quiz revenues rise 17% in FY23
Quiz has revealed that its unaudited revenues increased by 17% to £91.7m in the financial year ended 31 March 2023, following strong recovery in consumer demand. The group’s gross margins for the year were in line with management expectations and consistent with those recorded in the previous year, and as…
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14 April
Uniqlo owner sees profits rise 16% to £1.3bn
Uniqlo owner Fast retailing has recorded a 16% rise in operating profit to ¥220bn (£1.3bn) during the first six months of the year to 28 February. Fast Retailing said that the business recovery in China and strong sales in Europe and North America was the primary driver and helped revenues…
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14 April
Superdry lowers guidance as sales fall ‘below expectations’
Superdry has lowered its FY23 guidance to £615m-£635m after sales in February and March were “below expectations”. The company stated that while sales were showing significant year-on-year growth they were not what the company expected. It has put this down to a number of external factors like the cost-of-living crisis…
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