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 -17 January
Ocado reveals Q4 revenues of £550m
Online retailer Ocado has announced revenues of £550m for 13 weeks ended 27 November 2022, an increase of 0.3% compared with last year. The strong revenues come as a result of a 1.9% increase in average orders per week, which rose to 382,000. Despite this the average basket value dropped…
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17 January
Quiz sales up 11% over Christmas
Quiz group sales increased by 11% to £9.8m for the Christmas trading period ending 31 December 2022. Sales growth over Christmas was driven by a 19% increase in revenues generated across the retailer’s UK stores to £6.2m, which reflects “strong” like-for-like growth on the sales generated in the prior year…
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17 January
Burberry unveils new senior positions in leadership team
Burberry has appointed Giorgio Belloli and Delphine Sonder to the newly-created roles of chief digital, customer and innovation officer and chief merchandising officer respectively, with immediate effect. Belloli will be responsible for leading the global e-commerce, digital product, and analytics teams, as well as a newly-formed innovation function. Meanwhile, Sonder…
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16 January
Landsec eyes Sir Ian Cheshire as chairman
Landsec, the property group that owns 50% of Bluewater shopping centre, is considering appointing Sir Ian Cheshire as its new chairman. According to Sky News, Landsec is lining up the former Debenhams chairman to replace Cresida Hogg with the appointment potentially coming as early as this month. Cheshire is currently…
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16 January
Matalan rescue deal to wipe founder’s control of group
Matalan founder John Hargreaves is reportedly set to lose control of the group after its lenders finalised a rescue deal that eliminates his equity, despite the retail tycoon submitting his own takeover bid for the group. According to the Times, Matalan is set to announce that lenders Invesco, Man GLG,…
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16 January
M&S announces £480m store investment plan
Marks and Spencer has announced a £480m plan to invest in 20 “bigger and better” stores over the next two years. The new store pipeline for 2023/24 includes eight full line destination stores in key city locations. These include a new 97k sq ft store in Leeds White Rose and…
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16 January
Sainsbury’s and Just Eat agree grocery delivery partnership
Just Eat has launched a new partnership with Sainsbury’s, marking the platform’s second tie-up with one of the UK’s ‘Big Four’ grocery brands. The partnership will launch with more than 175 stores by the end of February in locations including London, Edinburgh and Bristol, with plans to roll out to…
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16 January
Iceland appoints MD as executive chairman
Iceland Foods has announced the appointment of its managing director, Richard Walker as executive chairman, as his father, Malcolm Walker is to step down from the role. However, it is reported that Malcolm Walker will remain on the board as founder, having launched the family-owned frozen food retailer back in…
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13 January
UK economy beats expectations as it grows 0.1% in November
The UK economy unexpectedly grew by 0.1% in November as the World Cup helped boost restaurant and pub sales, according to the latest data from the Office for National Statistics (ONS). It comes as analysts had predicted a fall of 0.3% for the month and has raised hopes that the…
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13 January
DFS maintains guidance amid strong winter trading
DFS has maintained its profit guidance for the full-year following a strong start to its winter trading period. In the half-year ended 25 December 2022, order intake rose by 10.6% against the pre-pandemic period in FY19, with a “strong” second quarter that was boosted by market share gains. Overall, gross…
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