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 -16 March
Superdrug raises pay for newly-qualified pharmacists
Superdrug has announced a pay increase for newly-qualified pharmacists that will see their wages rise to £50k. The news comes as the high street drugstore is actively recruiting for 200 roles, while also introducing a new ‘financial wellbeing’ package. There are currently 155 pharmacists working for Superdrug, with an average…
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16 March
John Lewis axes bonus as losses surge to £234m
John Lewis has seen losses plummet to £234m in its full-year results, down from a loss of £27m the prior year, with the group axing its staff bonus for a second time and warning of future job losses. It comes as the impact of inflation was “felt across the business”,…
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15 March
Spring Budget: Corporation tax to rise to 25%
Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of £9bn of “full capital expensing” which for…
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15 March
Liverpool One hails sales performance
Grosvenor has revealed that Liverpool One has “bucked national trends” since the start of 2023, with a 16.5% uplift in sales compared with the same period in 2022. The year-on-year rise outperforms the national picture, with an average increase of 5.2% in sales being recorded across the country according to…
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15 March
Asda’s purchase of Co-op’s petrol stations could increase prices, CMA finds
The Competition and Markets Authority (CMA) has revealed that Asda’s acquisition of 132 petrol stations owned by Arthur Foodstores Limited could cause competition concerns in 13 UK locations. Arthur is a special purpose transaction vehicle created by Co-operative Group Limited, the Co-op, to sell its 132 petrol stations, with attached…
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15 March
H&M Q1 net sales up 12%
H&M has announced that its net sales for the period between 1 December 2022 and 28 February 2023 rose 12% to SEK 5.4bn (£423.7m), compared with last year. In local currencies its net sales increased by 3% and excluding Russia, Belarus and Ukraine the increase was 16%in SEK and 7%…
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15 March
Zara owner sales jump 17.5% in FY22
Inditex, the parent company of high street retailer Zara, has revealed that sales reached €32.6bn (£28.7bn) in FY22, an increase of 17.5% on the prior year. According to the group, its sales grew 18% in constant currencies across all its key geographical areas both in stores and online. While online…
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15 March
Burberry appoints new chief financial officer
Burberry has announced the appointment of Kate Ferry as chief financial officer and executive director. By early September 2023, Ferry will replace Julie Brown – who after working for Burberry for more than six years will depart the company on 1 April 2023. In her new role, Ferry will have…
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15 March
M&S rolls out Nobody’s Child pop-ups across 30 stores
Marks and Spencer is set to roll out fashion brand Nobody’s Child to 30 stores across the UK from March to August. The 400ft seasonal pop-ups will offer a 30-piece capsule collection of Nobody’s Child’s signature midi and mini dresses, as well as a range of skirts, tops and jumpsuits…
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14 March
Severe weather sees footfall drop 7%
Footfall across UK retail destinations declined by -7% last week due to “severe” weather conditions, a far greater decline than in the week before last when footfall had dropped by a modest -1.1%, according to the latest figures from Springboard. Springboard revealed that high streets were by far the hardest…
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