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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Aug- 2022 -2 August
Greggs names new chair as revenues rise
Greggs has announced the appointment of Matthew Davies as an independent non-executive director and chair designate. Davies joins the board with immediate effect, and will be appointed as chair on 1 November 2022, when the current chair, Ian Durant, steps down. He is widely experienced in retail, and during his…
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2 August
JD Sports names Régis Schultz as new CEO
JD Sports Fashion Plc has appointed Régis Schultz as the company’s new CEO, effective September 2022 when interim CEO Kath Smith will undertake a full handover of duties, and Smith will then resume her former role as senior independent director on the board. Schultz has a wealth of retail experience…
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2 August
Travis Perkins reports ‘good’ H1 performance
Travis Perkins has revealed an adjusted operating profit of £163m for the six month ended 30 June, down just 0.6% from the same period last year (£164m). It comes as the group posted strong revenue growth of 10.3% up to £2.5bn. It also reported strong market outperformance in merchanting with…
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1 August
Seraphine profits fall below expectations despite revenue growth
Maternity brand Seraphine has revealed its adjusted EBITDA has come in below previously guided expectations despite posting a 33% increase in annual product revenue to £44m. For the 52 weeks to 3 April 2022, it revealed Adjusted EBITDA was down -58.6% to £2.6m (FY21: £6.2m) due to a “number of…
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1 August
Sunak pledges to slash empty high street shops by 2025
Rishi Sunak has pledged to slash the number of boarded up high street shops by 2025 if he wins his Tory leadership bid, by enabling local authorities to quickly seize and repurpose empty commercial buildings. In his latest pitch to party members, who are shortly set to receive ballots for…
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1 August
Shop vacancies fall for third quarter in a row
In the second quarter of 2022, the overall GB vacancy rate decreased to 14.0%, which was 0.1 percentage points better than Q1 and 0.5 percentage points better than the same period last year, according to the BRC. This was the third consecutive quarter of falling vacancy rates. All locations saw…
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1 August
JD Sports sells Footasylum to German investor for £37.5m
JD Sports has revealed it has agreed to sell Footasylum Limited to German investment firm Aurelius Group in a £37.5m deal. JD said that the sale of Footasylum has been “agreed in accordance with the final undertakings issued by the Competition and Markets Authority (‘CMA’) on 14 January 2022, following…
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1 August
Waitrose removes ‘best before’ dates on 500 products to cut food waste
Waitrose has announced it will remove the ‘best before’ dates on nearly 500 fresh products to reduce the volume of food waste occurring in UK households. The removal will come into place from September, and it will include fresh food items such as root vegetables, fruits including grapes, citrus and…
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1 August
Iceland boss calls for next PM to rethink business rates
Iceland has joined in the call for Tory leadership candidates to rethink “outdated” business rates as the company’s managing director, Richard Walker, reportedly urged the prime minister to promise a “root and branch” reform of the tax. His intervention, according to This is Money, follows similar calls from other UK…
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Jul- 2022 -29 July
Ted Baker’s non-executive director steps down
Ted Baker has announced the departure of Andrew Jennings as director of the company. Jennings didn’t seek re-election to the board at the annual general meeting on 28 July 2022. He was former CEO of both House of Fraser and German retail group Karstadt. He has also previously worked as…
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