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 -7 October
Superdry swings to profit but ‘cautious’ on near future
Superdry has returned to profitability as pre-tax profits surged to £21.9m in the 53 weeks ended 30 April 2022 (FY22), compared with a loss of £12.6m in FY21. However, the company said it remains “cautious” about the near future amid a “challenging” macroeconomic environment, high levels of inflation, and the…
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6 October
Footfall slows to +6.8% in September
UK footfall slowed for the third consecutive month and now sits just 6.8% compared with the same period in 202, as the rising cost of living cuts consumer visits according to the latest data from Springboard. Springboard revealed that superficially September’s results suggest that footfall has largely been unaffected by…
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6 October
Tesco to cut over 300 head office roles amid soaring inflation
Tesco is set to cut over 300 jobs from its head office as part of a major shake up after warning that profits would be impacted by soaring inflation. The news came at the same time as Tesco announced that it would be increasing the hourly wage for its shop…
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6 October
Aldi to recruit 3,000 Christmas roles
Aldi has announced that it is set to create around 3,000 new jobs ahead of the festive period this year as it prepares for its “biggest-ever Christmas” as customers are switching over to the supermarket. Over 2,000 temporary and permanent store positions are being made available to help replenish stock…
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6 October
N Brown profits plunge amid weakened consumer confidence
N Brown has seen its pre-tax profits plunge 74.6% to £7.2m in the first half of the year, as weakened consumer confidence led to a “more challenging” online retail market and subdued half-year revenues. Revenues dipped by 4.6% to £331.5m in the period, while the online retail market was down…
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5 October
Hard Rock Ready-to-Drink Cocktails goes International with London debut
Hard Rock International is expanding the launch of Hard Rock Expert Cocktails across the pond in London, signifying the iconic brand’s first ever international distribution of its ready-to-drink canned cocktails. Kimberly Manna, the senior vice president of Retail and Licensing for Hard Rock International, said: “Hard Rock was born in…
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5 October
Home brewing beer brand Pinter tops list of the UK’s fastest growing online companies
Home brewing beer brand Pinter has topped a new list of the UK’s fastest growing online companies. Pinter, based in Walthamstow, London, has grown sales by more than sixfold (626%) to almost £6 million as beer lovers save money in the cost of living crisis by serving perfect pints they…
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5 October
Lidl GB to recruit over 1,000 roles
Lidl GB has revealed it will be recruiting for over 1,000 new hourly paid roles over the next five months. The roles will span across stores and warehouses and include customer assistants, cleaners and warehouse operatives. It said new recruits will earn a minimum of £10.90 an hour outside of…
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5 October
Halfords announces acquisition of LTC Trading Holdings
Halfords Group has announced the acquisition of LTC Trading Holdings Limited and its subsidiary Lodge Tyre Company for total consideration of £37.2m, with £33.2m paid on completion and £4m paid in FY25 subject to performance. Lodge Tyre provides automotive services to business-to-business customers from 50 garages and 248 mobile vans.…
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5 October
Tesco raises pay despite profit hit
Tesco has seen its profits tumble in the first half of the year, with profit before tax plummeting by 64% to £413m, as the group contends with “significant” cost inflation and changing consumer habits. Nonetheless, revenues rose by 6.7% to £32.5bn in the period, while the group announced it would…
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