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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Jan- 2023 -31 January
Tesco in talks to acquire paperchase out of administration
Tesco is reportedly close to acquiring stationery retailer Paperchase out of administration. According to Sky News, Tesco is in advanced talks to acquire the name and intellectual property of the embattled retailer in a deal that could be agreed as early as Today (31 January). Sky News cited that sources…
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31 January
Tesco to shake-up management and close counters, 2,100 jobs at risk
Tesco has announced a shake-up of its management structure alongside plans to shutter its remaining hot counters and delis, in a move that could place up to 2,100 jobs at risk. While the supermarket is set to introduce 1,800 new shift leader roles as part of its restructuring plan, it…
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31 January
Pets at Home raises profit outlook
Pet retailer Pets at Home has raised its profit outlook after record Q3 consumer revenues, for the 12 weeks ended 5 January 2023. Its consumer revenues rose 9% year on year boosted by a record number of consumers. Consumer revenues were also up 30% compared to pre-pandemic levels. The company…
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31 January
Wickes sales grow 5.2% as energy-saving products provide boost
Wickes has announced that its like-for-like sales grew by 5.2% in Q4 up to 31 December, as it saw strong demand for energy-saving products such as loft insulation and draught excluders. Its “Do It For Me” like-for-like sales soared 34.5%, which helped total group sales increase by 11.5% in the…
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31 January
Nearly half of FTSE retailers issued profit warnings in 2022
Profit warnings from UK-listed retailers increased by 48% in 2022 as rising costs prompted record levels of warnings, according to EY-Parthenon’s latest Profit Warnings report. The total profit warnings issued in 2022 increased by 50%, from 203 the previous year to 305 this year. The report discovered that over a…
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30 January
Frasers Group increases N Brown stake
The Frasers Group has increased its shareholding in clothing and footwear retailer N Brown to become its second largest shareholder. The Sports Direct owner has increased its holdings in the company up to 17.88% according to LSE filings. This move makes Frasers the second largest shareholder in the company after…
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30 January
Lidl pledges to invest £4bn into UK food industry
Lidl has pledged to invest £4bn in British food businesses this year, as it plans to show its continued support for local suppliers. The figure pledged for this year supasses the retailer’s similar plans for 2019, which saw Lidl commit to a five-year £15bn investment in the British food industry.…
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30 January
LVMH profits and revenues surge 23%
LVMH Moët Hennessy Louis Vuitton, the luxury goods group, revealed it recorded revenues of €79.2bn (£69.6bn) in 2022 and profits from recurring operations of €21.1bn (£18.5bn), both up 23%. The luxury group said the performance comes as all business groups achieved “significant” organic revenue growth over the year. Its fashion…
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30 January
Bestway acquires 3.45% share in Sainsbury’s
Bestway Group has announced it has agreed to acquire a total of 80,792,512 shares in Sainsbury’s, representing 3.45% of Sainsbury’s issued share capital. Bestway Group has said it intends to hold its shares in Sainsbury’s for investment purposes and “looks forward to supporting the executive management team”. Bestway Group has…
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30 January
Asda faces strike action after plans to cut jobs and reduce pay
Asda workers are reportedly planning strike action after the supermarket unveiled plans that could place 300 roles at risk across the business, and affect the pay of over 4,000 hourly-paid workers. A union source told Sky News that GMB representatives met last week after Asda first revealed its set of…
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