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 -9 January
Lidl sees sales rise 25% in run up to Christmas
Lidl GB has announced that over 1.3m people shopped with them in the run up to Christmas, as its sales increased 24.5% YOY. The supermarket chain stated that shoppers switched nearly £63m of spending to them from other supermarkets. It revealed product highlights included Christmas Pudding sales increasing 185% YOY…
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9 January
Stitch Fix cuts workforce as CEO exits
Stitch Fix, an online personal styling service, has announced it will reduce the size of its workforce by around 20%, alongside news that its current CEO, Elizabeth Spaulding, is stepping down from the group. As well as reducing its workforce, the group also announced plans to close its Salt Lake…
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9 January
Timpson rescues In-Time out of administration
Timpson has announced the acquisition of watch and jewellery repairer In-Time, which had collapsed in the days running up to Christmas. As part of the deal, the Manchester-based company has acquired 35 shops and taken on 110 new employees from In-Time. The value of the deal has yet to be…
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6 January
Independent department store Sandersons reports record festive sales
Independent department store Sandersons Boutique has hailed a record-breaking festive sales period, despite facing a cost-of-living crisis, freezing weather conditions and numerous postal strikes. It revealed the last full week of Christmas shopping (w/c 19th December) saw record breaking figures with a 14.86% increase in like for like sales against…
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6 January
LCP Group acquires Gateway Retail Park
The LCP Group has announced it has acquired a Gateway Retail Park in Harwich, Essex – marking more than 20 retail acquisitions in 12 months. The group, which is part of M Core, the acquisitive commercial property collective that has invested more than £160m over 12 months in retail assets,…
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6 January
Boots Q1 sales driven by ‘record’ Black Friday
Boots has welcomed a strong performance in its first quarter of trading, with like-for-like sales up by 8.7%, in part bolstered by a “record-breaking” Black Friday which saw boots.com report its biggest ever day of sales. Store sales were also up by 13% on Black Friday, with No7, Electrical Beauty…
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6 January
Holland and Barrett appoints new executive chair
Holland and Barrett has announced the appointment of Alex Gourlay as its new executive chair. He has taken over from Michael Casey who has held the position as executive chair since September 2021. Casey has also been a non-executive board member since 2017 and will also remain in that role.…
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5 January
Wilko secures £40m in funding from Homebase owner
Wilko has reportedly secured £40m in funding from Hilco UK, the investor which owns both Homebase and Cath Kidston. According to the Financial Times, the details of the asset-based credit facility were filed with Companies House although they have yet to be fully disclosed. However, the outlet added it is…
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5 January
B&M sees Q3 revenues hit £1.56bn
Variety goods retailer B&M has announced Q3 revenues of £1.56bn, up from £1.39bn compared with last year, a 6% increase like for like. It said the strong revenues were driven by its UK dealings with B&M UK accounting for £1.3bn. B&M France had revenues of £136m and its other company…
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5 January
Next ups guidance amid strong Christmas sales
Next has increased its full year profit before tax guidance by £20m to £860m, as sales in the Christmas period have been “better than anticipated”. The retailer’s profit outlook has seen an increase of 4.5% compared with last year, following a 4.8% rise in full price sales in the nine…
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