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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Nov- 2022 -28 November
Primark to invest £140m in UK stores over next two years
Primark has unveiled plans to invest £140m over the next two years in its UK store estate. This will include the opening of at least four new stores in Bury St Edmunds, Craigavon, Salisbury and Teesside Park. The investment creates at least 850 new jobs and increases selling space by…
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25 November
Frasers group acquires Savile Row tailor
Sports Direct owner Frasers group has reportedly struck a deal to acquire historic Savile Row tailor Gieves and Hawkes. According to the BBC, the company owned by Mike Ashley has been interested in a potential deal since September and has now finally secured the “long term future” of the 250…
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25 November
ScS hails resilient trading despite challenging conditions
Furniture retailer ScS has said it is “encouraged” by a period of “resilient trading” despite facing challenging economic conditions. In a trading update ahead of its AGM, it revealed like-for-like order intake has seen an improvement in recent weeks, with trading ahead of the prior year. Total like-for-like order intake…
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25 November
Amazon workers to strike across globe this Black Friday
Amazon workers from over 30 different countries are set to strike today (25 November) on Black Friday, one of the retailer’s busiest days of the year. The movement has been formed by the Make Amazon Pay coalition, which is co-convened by UNI Global Union and the Progressive International. The coalition…
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25 November
Waitrose appoints customer director
Waitrose has announced that Nathan Ansell has been appointed as its new customer director, reporting to executive director, James Bailey. He replaces Martin George who leaves after five years with the company. Starting in January 2023, Ansell will be responsible for further developing its multi-channel customer strategy through a focus…
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25 November
Pepco Group appoints former CEO as chairman
Pepco Group, the parent company of variety discount retailer Poundland in the UK, has announced the appointment of Andy Bond as chairman and Neil Galloway as chief financial officer. Bond, who was the former CEO of the group and led it through its flotation on the Warsaw Stock Exchange, will…
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24 November
Mothercare appoints new CEO as profit and sales stall
Babywear retailer Mothercare has announced the appointment of Daniel Le Vesconte as group CEO as it revealed a period of tough trading for the half year up to September 2022. Le Vesconte will start his new role in the new year and brings with him a wealth of experience. He…
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24 November
Made.com to repay 2% of £187m owed at time of collapse
Made.com collapsed into administration owing a total of £186.6m to unsecured creditors and is set to repay less than 2% of this, according to new documents from its administrators. In its latest filings with Companies House, PwC said it only expects to pay out 1.6p in the pound to creditors…
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24 November
Kingfisher lowers upper end of FY guidance
Home improvement retailer Kingfisher has lowered its upper guidance for its FY 22/23 pre-tax profit range despite seeing an increase in sales for the three months to October 31. The B&Q owner said it now expects its FY adjusted pre-tax profits to come in between £730m to £760m. However, overall…
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24 November
54% of consumers plan to stick to spending this Christmas, study finds
Some 54% of UK consumers are Christmas “enthusiasts” and will not change their Christmas plans despite economic challenges, according to Nielsen’s Unwrapping Europeans’ Holiday Outlook’ report. The survey of more than 1,000 people in the UK found that while increased food and energy prices as well as possible supply bottlenecks…
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