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 -12 April
CBI sacks director general amid misconduct claims
The Confederation of British Industry (CBI) has dismissed its director general Tony Danker following allegations of misconduct. Last month, it was revealed that Danker was to step away from his role due to an investigation into complaints concerning his conduct in the workplace. The CBI had engaged employment law at…
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12 April
Games Workshop appoints new non-executive director
Miniature wargames manufacturer Games Workshop has recently announced the appointment of Mark Lam as non-executive director at the company. The group said Lam has many years of experience in telecommunications and information technology, having previously been chief technology and information officer of Openreach and a senior executive at BT Group. …
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12 April
Sosandar swings to FY profit as revenues rise 44%
Sosandar is set to welcome its first full-year of profitability in what it called a “milestone” year for the group, expecting profits of at least £1.6m, a “substantial” positive swing of £2.2m from the £0.6m loss in FY22. It comes as revenues rose by 44% to £42.5m in the year…
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12 April
Marks Electrical revenues up 21.5%
Marks Electrical has seen its FY revenues jump 21.5% to £97.8m, up from £80.5m, for the 12 months ended 31 March 2023. Alongside this, its revenues for the three months ended 31 March were up 20% from £20.7m to £24.8m. It revealed the strong performance was driven by many product…
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12 April
Footasylum to expand store portfolio amid increased demand
Footasylum, the retailer of fashion streetwear and sportswear, has announced its plans for a series of new store openings and upgrades across the country in the year ahead. The plans come as the retailer has experienced a “notable” increase in demand for its womenswear, following the recent opening of a…
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11 April
Tesco eyes supplier price cuts in bid to lead supermarket deflation
Tesco is reportedly set to push suppliers for price cuts as it looks to pass on lower prices to consumers and drive down food price inflation, according to The Sunday Times. The outlet cited Ged Futter, director at The Retail Mind, who claimed Tesco is trying to “lead the supermarket…
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11 April
Footfall surges 18.6% on Good Friday
Good Friday footfall (up to 5pm) has provided a welcome boost to retailers as it surged by 18.6% compared with the previous week, according to a new report by Springboard. The footfall in high streets was 26% higher than the previous Friday by 5pm and 8.5% higher than the week…
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11 April
Waitrose to launch Gail’s Bakery areas in 64 stores
Supermarket chain Waitrose has recently revealed it will add dedicated Gail’s Bakery areas in 64 of its shops in the South and East of England by May. Waitrose will also be doubling the range of Gail’s sourdough breads and other craft baked goods it stocks, adding new lines from crackers…
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11 April
UK retail sales jump 5.1% in March
Total retail sales in the UK were up 5.1% in March according to data from the British Retail Consortium and KPMG. This is above the three-month average growth of 4.8% and the 12-month average growth of 2.6% for the five weeks between 26 February and 1 April. Like-for-like retail sales…
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11 April
Poundstretcher eyes stock market listing
Poundtsretcher is reportedly eyeing a floatation on the stock market, The Mail On Sunday has reported. According to City sources, the discount retailer has hired advisers to explore a potential listing after the business welcomed strong sales during the pandemic. The Mail said it was “not yet clear” if the…
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