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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Oct- 2022 -28 October
CMA gives Morrisons green light for McColl’s takeover
Morrisons’ takeover of McColl’s is nearing completion after the Competition Markets Authority (CMA) announced it will accept the merger. The takeover deal will see the supermarket acquire 28 stores from McColl’s existing estate, which the watchdog has decided not to investigate further. The CMA said that Morrisons must “act in…
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28 October
Store vacancy rate falls but remains below pre-pandemic levels
In the third quarter of 2022, the overall GB vacancy rate decreased to 13.9%, a 0.1% rise from Q2 and 0.6% better than the same period last year, according to the latest monitor from the BRC and Local Data Company. This was the fourth consecutive quarter of falling vacancy rates.…
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28 October
Aldi raises store assistant pay to £11 per hour
Aldi has revealed its plans to raise its starting pay for store assistants to £11 per hour nationally, and to £12.45 per hour within the M25 from 1 January 2023. It is reported that the new starting rate is over 15% higher than it was a year ago and represents…
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27 October
Asda to trial in-store hearing service in UK first
Asda will be the first UK supermarket to offer an in-store hearing service after announcing that it will partner with Amplifon, who will provide hearing services in three of its stores. Based in the opticians at Asda Altrincham, Harrogate and Long Eaton stores, during the trial, Amplifon will be providing…
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27 October
Passenger named one of the UK’s fastest growing online companies
Outdoor clothing brand Passenger is gearing up for global expansion as it named one of the UK’s fastest growing online companies. The New Forest company – which plants a tree for every order sold – has seen sales more than quadruple from 2019 to £11 million in 2021 as, driven…
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27 October
Shop workers report rise in customer abuse, Retail Trust says
The cost of living crisis has reportedly led to a rise in the number of retail staff facing abuse from customers, according to ITV news. In figures shared by the Retail Trust, it reported that 70% of retail workers had said that abuse had “gotten worse” in the past two…
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27 October
Fragrance Group sales and profits boosted by omnichannel strategy
The Fragrance Shop has reported increased annual sales and profits as it bounced back from the impact of the pandemic and “reaped the benefits” of investment in its omnichannel strategy. During the 53 weeks to 2 April 2022 it saw total turnover rise 42.5%to £156.83m and profits measured by EBITDA…
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27 October
Frasers takeover of MySale nears completion
Frasers Group has moved closer to completing its takeover of MySale, having received acceptance for more shares of the Australian marketplace. The Sports Direct owner currently holds 691,327,967 MySale shares, representing 66.48% of MySale’s entire issued share capital. As of 26 October 2022 however, Frasers said it owns or has…
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27 October
Inditex agrees sale of Russian business
Zara parent company Inditex has reached an agreement for the sale of its business operations within Russia to Daher Group. The news of the company terminating its retail business in Russia comes after Inditex paused its sales within the region on 5 March earlier this year. It is reported that…
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26 October
Burlington Arcade unveils three jewellers among new brands
Burlington Arcade has announced that it has signed 12 new brands, including 3 new jewellers , bringing the total number of tenants to 47. Jewellery designer Lily Gabriella will launch her first ever showroom within the Penthouse above the Piccadilly entrance, opening in November; 886 Jewellery – The Royal Mint…
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