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 -15 November
Supermarkets see sales improve as they head into Christmas
In the last four weeks supermarkets’ total till value growth increased to 5.3% from 4.7% last month, despite inflation accelerating and shoppers purchasing less, according to NielsenIQ data. Across the industry, it found average spend per visit increased to £18.50 compared with £18.20 last month but is still lower than…
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15 November
Gear4music falls to HY loss despite uptick in revenues
Musical instrument retailer Gear4music has slipped to a half year loss despite reporting a 2% increase in revenues. For the trading period ending 30 September 2022, the company posted a net loss of £1.1m which is a 2.2% decrease compared with the previous year. It said the loss comes as…
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15 November
Primark launches click and collect service in 25 stores
Primark has unveiled the trial of a new click and collect service that will allow customers to shop for products online and order for delivery to one of the 25 locations available. It is reported that this trial is available across the north west of England, Yorkshire and north Wales,…
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15 November
Unemployment rate rises to 3.6%
The unemployment rate for July to September 2022 increased by 0.2% on the quarter to 3.6, according to the latest statistics from the ONS. The UK employment rate for July to September 2022 was 75.5%, largely unchanged from the previous quarter and 1.1% lower than before the coronavirus pandemic. Over…
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15 November
Amazon to cut 10,000 jobs as business takes hit
Amazon is reportedly set to cut up to 10,000 jobs amid a slowdown of business in recent months, The New York Times has reported. The cuts are reportedly set to affect divisions including personal devices and e-commerce, with around 3% of office jobs impacted in total. It comes after reports…
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15 November
Footfall sees modest rise amid consumer nervousness over costs
Footfall rose by just +1.3% across UK retail destinations last week from the week before, after a decline of -7.5% following the school half term in the week before last, according to Springboard. Springboard said that the modest increase indicates “consumer nervousness” in the midst of the cost of living…
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14 November
Peel L and P retail parks appoints new director
Peel L and P retail parks has appointed Bruce Edmondson as associate director for retail development. Edmondson will be responsible for expanding and developing new opportunities across Peel’s portfolio. Edmondson has over 10 years experience in the role and has worked at some of the biggest property investment and development…
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14 November
Retailers call on chancellor to freeze business rates
Retail bosses from some of the UK’s leading retailers – including Tesco, Sainsbury’s, Greggs and Iceland – have called on chancellor Jeremy Hunt to freeze business rates in the autumn statement, which is due to be announced on Thursday 17 November. Forming the Retail Jobs Alliance, the chief executives have…
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14 November
Joules to fall into administration, 1,600 jobs at risk
Joules is set to appoint administrators after talks with potential investors collapsed, with up to 1,600 jobs now at risk. Earlier this month, the company announced it was in advanced discussions with a number of strategic investors regarding financing options for the group. It spoke with a number of strategic…
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14 November
Asda like-for-like sales rise 4.7% in Q3
Asda has revealed that its like-for-like sales increased by 4.7% in the third quarter, making it the supermarket’s “strongest” quarterly performance since Q1 2021. It is also reported that the brand’s total revenues excluding fuel reached £5.2bn. The news of Asda’s positive third quarter performance has been attributed to the…
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