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.
-
Jul- 2022 -25 July
Asos delays autumn orders amid fears shoppers may cut back
Asos has delayed some autumn orders due to concerns that customers will cut back on buying new clothes in the cost of living crisis, according to The Mail on Sunday. Asos suppliers reportedly told the outlet that some stock had to be cancelled at short notice. However, it added that…
Read More » -
25 July
Naked Wines CFO departs amid sales warning
Naked Wines has announced that Shawn Tabak, chief financial officer and director, has left the company by mutual decision, effective July 22, 2022. James Crawford has been appointed on an interim basis through to June 2023. He previously served as CFO from April 2015 to November 2020, and will combine…
Read More » -
25 July
Aldi to give workers second pay increase this year
Aldi has announced that around 26,000 store employees are to receive a second pay increase this year. This move is said to maintain the retailer’s position as the UK’s “best-paying supermarket”. From September, all hourly paid workers within its stores will receive an increase of 40p an hour on their…
Read More » -
25 July
Leicester factory workers not reporting underpayment, LPC finds
Workers in Leicester textile factories are reportedly “vulnerable to exploitation” and unlikely to report abuses and underpayment, according to a new report from the Low Pay Commission (LPC). The report examined non-compliance and enforcement of the minimum wage in Leicester’s textiles manufacturers. It comes as multiple agencies have carried out…
Read More » -
22 July
M&S acquires logistics provider Gist for £145m
Marks and Spencer Group plc has announced the acquisition of Gist Limited, the principal contract logistics provider to M&S Food, from Storeshield Limited, a subsidiary of The BOC Group Limited. Under the transaction, M&S has acquired the entire share capital of Gist for an initial consideration of £145m in cash.…
Read More » -
22 July
63% of SME owners looking for business partners, study shows
A new study from global technology platform, Intuit QuickBooks, has found that almost two thirds (63%) of SME owners are looking for a business partner, while just 8% already have one, which suggests that a surge in business partnerships is on the horizon. This comes as small business owners and…
Read More » -
22 July
Consumer confidence remains at historic low in July
UK consumer confidence remained at a historic low of -41 in July, according to GfK’s long-running Consumer Confidence Index. GfK found that two measures were up, one was down and two were the same in comparison to the 24 June announcement. The index measuring changes in personal finances over the…
Read More » -
22 July
Retail sales fall in June despite Platinum Jubilee celebrations
Retail sales dropped by 0.1% in June 2022 following a fall of 0.8% in May 2022 despite the Queen’s Platinum Jubilee boost, according to data from the Office of National Statistics (ONS). The data, which covers 29 May to 2 July 2022, revealed that sales volumes were 2.2% above its…
Read More » -
22 July
Amazon to ‘reinvent’ healthcare with One Medical acquisition
Amazon is set to acquire One Medical for $3.9bn (£3.3bn) following a new merger agreement, in a move that will see it expand further into the healthcare space. One Medical is a human-centred, technology-powered national primary care organisation that says it is “on a mission to make quality care more…
Read More » -
22 July
Transitional relief could cost retailers over £1bn, BRC warns
Retailers have warned that the failure to fix the “flawed” Transitional Relief system could cost the industry over £1bn between 2023-2026, and it will reportedly force shops which are most impacted by artificially inflated rates bills to close, according to the British Retail Consortium (BRC). The BRC is calling for…
Read More »
