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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Sep- 2022 -9 September
CMA deems Morrisons’ takeover of McColl’s ‘would not harm shoppers’
The Competition and Markets Authority (CMA) has found competition concerns in only a small number of local areas after launching an investigation into Morrisons’ completed purchase of McColl’s, following the submission of the supermarket’s £190m deal for review. The authority said that overall, the deal “would not harm” the vast…
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8 September
Energy bills to be capped at £2,500 a year from October
Prime minister Liz Truss has announced today that energy bills for typical households will be capped at £2,500 annually for their gas and electricity bills from the start of this coming October. The news comes as her first major policy announcement, and according to Sky News, the new price guarantee…
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8 September
Gymshark to open Regent Street flagship
Gymshark has announced that it will open the doors of its flagship store at 165 Regent Street on 1 October 2022. Some of the key features include “the sweat room”, an interchangeable sweat studio operating from the store, which will offer a rotating programme of classes for the Gymshark community.…
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8 September
Primark owner warns on lower profits
Primark’s owner, Associated British Foods (ABF), has warned of lower profits for the next fiscal year due to cost inflation, higher energy costs, and market volatility following the strengthening of the US dollar at the end of this quarter. Primark’s operating profit margin is now expected to be lower than…
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8 September
Ted Baker appoints head of menswear sales
Ted Baker has appointed James Waller as its new head of sales for menswear. In his new role, Waller will work under global creative director Anthony Cuthbertson to help support the delivery of vision and strategy for Ted Baker’s menswear clothing. Ted Baker said he has an “impressive” background in…
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8 September
JD Sports to open new store in Birmingham’s Bullring centre
JD Sports is set to double its presence in Bullring and Grand Central, Birmingham, as it looks to drive customer engagement through events, pop-ups and collaborations. Hammerson, a real estate investment firm, said the expansion is a “clear signal of the destination’s strength as well as a firm commitment to…
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8 September
Reebok appoints new CEO
Sparc Group, a full-service lifestyle brand operating company, has announced the appointment of Todd Krinsky as the new CEO of Reebok. He will continue to be based at the brand’s Boston headquarters and will report to Marc Miller, CEO of Sparc Group. Krinsky will take up the role from Matt…
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7 September
Ocado Retail names Hannah Gibson as CEO
Ocado Retail Limited has unveiled the appointment of Hannah Gibson as its new CEO, effective from 20 September. Having spent more than 10 years at Ocado Group, Ocado said Gibson brings “extensive experience” from a range of senior customer, commercial and technology roles. She is currently chief product officer for…
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7 September
Selfridges’ new owners to redevelop Oxford Street space
Selfridges’ new owners, Central Group and Signa Holding, have announced that a redevelopment of the “underutilised” hotel, car park and mews at Selfridges Oxford Street is being assessed to create additional value. Several store transformation programmes and new developments are ongoing in multiple countries. Central Group said that store transformation…
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7 September
Halfords revenue up 9.2% as group targets £75m profit in FY23
Halfords has revealed a total revenue growth of 9.2% against the prior year in the 20-weeks ended 19 August 2022. Total revenue was also up by 30.3% against FY20, with all segments showing a like-for-like growth over three years. Against FY20, revenue at its autocentres increased by 28.2%, while retail…
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