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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Jan- 2023 -27 January
H&M net sales increase 12%
H&M has announced that its net sales for FY22 increased 12% to SEK 223bn (£176bn) for the year ended 30 November 2022. The increase was 6% in local currencies. Excluding Russia, Belarus and Ukraine the increase was 15% in SEK and 8% in local currencies. Results for the year were…
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27 January
Asda to cut 300 roles as 4,000 face pay cuts
Asda has unveiled a series of change proposals that could place 300 roles at risk across the business, as well as affect the pay of over 4,000 employees. As part of plans to cut costs, the supermarket is first proposing to replace overnight ambient and frozen shifts in 184 smaller…
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27 January
Bensons for Beds sales up 7% over Christmas
Bensons for Beds saw like-for-like sales rise 7% for the last three months of 2022, compared to the same period the previous year. The group has attributed its performance to its investment in its stores and online platform, following leadership changes made in the summer. Across the quarter, the retailer…
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27 January
Store Vacancies fall to 13.8% in Q4
The overall vacancy rate improved to 13.8% in the fourth quarter of 2022, which was 0.1 percentage points better than Q3 and 0.6 percentage points better than the same period last year, according to the latest BRC/LDC monitor. This was the fifth consecutive quarter of falling vacancy rates. All locations…
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26 January
Sainsbury’s launches healthy overnight drive-thru for shift workers
Sainsbury’s has launched a healthy overnight drive-through aimed at shift workers who it says have the unhealthiest diets in the UK. According to new research from Sainsbury’s, professions such as security guards and taxi drivers top the list for unhealthiest diets. It found that almost a quarter (23%) of night…
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26 January
Two major shopping centres secure net zero status
Two retail destinations, Quayside MediaCity in Salford and Gloucester Quays, have become the first shopping centres in the UK to achieve net zero carbon status in line with UK Green Building Council’s (UKGBC) framework. The Peel L&P properties were verified against the UKGBC’s net zero carbon framework based on their…
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26 January
Levi’s profits fall 9% despite surge in revenues
Levi’s has revealed its gross profit fell 9% to $887m (£716m) for the year 27 November 2022. However, it also reported a 7% year on year increase in revenue to $6.2bn (£5bn) (12% on a constant-currency basis). Net revenue of $1.6bn (£1.29bn) in the fourth quarter represented a 6% year-on-year…
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26 January
Inditex to double number of disabled employees
Zara owner Inditex has announced plans to double its number of disabled employees within the next two years. The company said it was committed to “boosting the inclusion of people with differing abilities” across its network, aiming to hire over 1,500 professionals. Inditex is targeting having over 2% of its…
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26 January
The Cotswold Company appoints three to leadership team
Furniture and homewares brand, The Cotswold Company has announced the appointment of Jim Sharp as chairman, Matt Pollington as chief marketing officer, and Mike Ellis as director of merchandising. Sharp has built his career at Schroeder’s and Jimmy Choo, having chaired several high-growth digital brand-led retailers such as Seraphine, Feelunique,…
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25 January
300 Amazon warehouse workers hold first UK strike
The GMB union has organised a strike for about 300 Amazon warehouse employees out of 1,000 at the e-commerce retailer’s Coventry depot today (Wednesday 25 January), the first to be held in the UK. The union has been working to boost its presence at the company, as today’s strike action…
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