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.
-
Sep- 2022 -22 September
Co-op Food boss Jo Whitfield steps down
Co-op has announced that Matt Hood will become managing director of Co-op Food after Jo Whitfield steps down from the role. After six years with the Co-op, with over five years as Food CEO, Whitfield decided to step down and pursue her next challenge. Hood, former commercial director, will become…
Read More » -
21 September
Ocado shares drop amid HSBC downgrade
Ocado Retail Ltd shares dropped on Tuesday (20 September) after analysts at HSBC downgraded the retailer’s rating from ‘hold’ to ‘reduce’, according to City A.M. The lowered rating has sent Ocado’s share price down by over 7%, and this comes after Ocado lowered its FY22 outlook in a trading update…
Read More » -
21 September
JD Sports chair agrees £5.5m exit deal
JD Sports has reached an agreement with former chairman Peter Cowgill, which will see him receive £5.5m in an exit deal that will put him in a consultant position for the group following his departure last May. The arrangements include a binding set of covenants for a two-year period, replacing…
Read More » -
21 September
Business energy bills to be capped under new gov scheme
The government has unveiled a new plan that is set to cap wholesale energy bills for businesses for an initial six-month period from 1 October. The Government Energy Bill Relief Scheme, unveiled today (21 September) by business secretary Jacob Rees-Mogg, will reportedly bring support for households, businesses and public sector…
Read More » -
21 September
Eve Sleep losses widen amid ‘appalling’ market conditions
Eve Sleep, a direct-to-consumer sleep wellness brand, has reported EBITDA losses of £4.2m for the first half of 2022, compared with a loss of £1.9m for the same period the year prior. The report saw revenues down 16% to £11.6m for the six months ended 30 June 2022, compared with…
Read More » -
20 September
Selfridges’ owners eye first regional UK expansion in 20 years
Central Group Europe, Selfridge’s operating company, is said to be targeting regional cities in the UK for the first time in 20 years, according to the Financial Times. The luxury department store group currently operates from Oxford Street in London, as well as one store in Birmingham and two in…
Read More » -
20 September
Unbound Group reports ‘encouraging’ H1 despite £0.3m lose
Hotter Shoes owner, Unbound Group, has reported an EBIT loss of £0.3m for the first half of 2022 after taking into account the costs accumulated by the launch of its new multi-brand platform. The group saw revenue growth of 10.4% to £27.6m compared with £25m for the same period the…
Read More » -
20 September
Kingfisher sees profits drop 30%
Kingfisher has seen its profits fall 30% during the first half of the year ending 31 July, after reporting pre-tax profits of £474m compared with £677m at the same stage last year. The firm also saw sales fall by 4.1% on a like-for-like basis to £6,809m, although the home improvements…
Read More » -
20 September
Moonpig reiterates FY guidance as trading remains stable
Moonpig has said that its overall trading performance has been in line with its expectations in its latest trading update for the current financial year. In light of this, the group has kept to its existing guidance for the full financial year. It has also prioritised greeting card sales, which…
Read More » -
16 September
DFS profits fall as cost of living sees sales soften
DFS has revealed that its reported profit before tax has almost halved to £58.5m, down from £102.6m, as rising inflation negatively impacted its supply costs and dampened demand for its products. In its preliminary results for the 52 weeks ended 26 June 2022, it revealed that revenue from continuing operations…
Read More »
