News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Mar- 2023 -31 March
Prada recruits 400 staff to boost production
Prada Group has announced its plans to recruit over 400 people by the end of 2023, to strengthen its production capacity and craftsmanship expertise in Italy. Prada said that the new hires would further reinforce the company’s “strong industrial strategy”. It also stated that the investment would guarantee “greater agility…
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31 March
Morrisons sales rise in Q1 as it targets £700m cost-cutting drive
Morrisons has revealed that revenues rose by 3.4% to £4.7m in the first quarter of the year as it announced plans to cut costs by £700m over the next three years. The group said the cost-cutting drive would enable further investment in lowering prices, increasing service levels, investing in loyalty…
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31 March
Toys R Us owner amongst potential bidders for Hunter
The owner of Toys R Us, WHP Global, is reportedly one of several potential buyers eyeing a takeover of iconic footwear brand, Hunter Boots. According to Sky News, Marquee Brands, the owner of Ben Sherman, and Baozun, a Chinese e-commerce group which owns Gap’s Greater China operations, have also expressed…
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31 March
UK economy avoids recession amid 0.1% growth
The UK economy narrowly avoided a recession during the fourth quarter (Oct-Dec) as UK GDP increased 0.1%, revised up from no growth, according to the latest data from the ONS. In output terms, the services sector grew by 0.1% and the construction sector grew by 1.3%, while the production sector…
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31 March
Planet Organic puts administrators on notice
Grocery chain Planet Organic has reportedly put administrators on standby as it attempts to find a backers to secure its future, according to Sky News. The company filed a notice of intention to appoint administrators on Thursday, to provide it with breathing space from creditors. According to City sources the…
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31 March
Roberto Cavalli appoints CEO
Italian fashion group Roberto Cavalli has announced the appointment of Sergio Azzolari as its new chief executive officer, who will take up the role on 2 April and report to the board of the luxury fashion brand. Prior to his appointment, Azzolari was CEO of Dsquared2 since 2017, having held…
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30 March
Primark boosts hourly pay for retail assistants
Primark is to increase the pay of its retail assistants in Great Britain, giving around 26,000 retail colleagues an average pay rise of 12%. The retailer is increasing the rates of pay for all hourly-paid store colleagues across England, Scotland and Wales to £11 an hour and £11.51 in London.…
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30 March
H&M Q1 profit boosted by second-hand Sellpy platform
H&M has seen operating profit hit SEK 725m (£56.4m) in its first quarter of trading, up from SEK 458m (£35.6m) the prior year, boosted by the earnings of second-hand platform Sellpy. Sellpy, which is one of Europe’s largest second-hand platforms, has been consolidated into the group in the first quarter,…
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30 March
Decathlon launches UK first rental scheme
Sports retailer Decathlon has launched a rental service across all of its UK stores, becoming the first sports retailer in the country to do so. The rental service has been rolled out across all UK stores following a successful trial at four stores, where customers found that the offering allowed…
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30 March
Lululemon revenues increase 30% in FY22
Lululemon’s full-year net revenues have increased by 30% to $8.1bn (£6.6bn), the athleisure company has revealed in its FY22 statement. Gross profit amounted to $4.4bn (£3.5bn) in 2022 compared to $3.6bn (£2.9bn) the previous year although adjusted net income resulted less than 2021, with $854m (£691m) compared to $975m (£789m).…
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