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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Jun- 2022 -27 June
John Lewis appoints first director of designs
John Lewis has announced the appointment of its first director of design for fashion, Queralt Ferrer. The announcement comes as the retailer continues to build on plans to expand its own-brand ranges, with it aiming to become a “more significant player in fashion and home”. The appointment will specifically support…
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27 June
Braehead unveils host of new brands
Braehead, the retail and leisure destination, has announced a string of new openings at the shopping centre which are set to open this summer. Jewellery retailer Lovisa is set to open in the summer with a 780 square feet unit, and Suit Direct, the menswear retailer, has also signed on…
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27 June
JD Sports opens Gateshead flagship store
JD Sports has opened its latest flagship store at Gateshead’s Metrocentre on 25 June. The store is 18,000 square feet and has over 40 brands, including Nike, Adidas and The North Face, and JD Sports offered shoppers the chance to customise a pair of trainers, purchased in-store, for free at…
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27 June
Cost of living crisis could lead to ‘mild recession’, report warns
There is a rising risk of the UK economy falling into a “mild recession” due to the cost of living crisis, according to the latest economic report from KPMG. In its quarterly report, the ‘Big Four’ accounting firm said that the UK economy faces a number of global and domestic…
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27 June
Asda joins retailers in rejecting online sales tax
Asda has reportedly told the government that introducing an online sales tax (OST) will harm retailers and shoppers that are already affected with rising inflation, according to The Daily Express. The supermarket chain was one of a number of retail groups to meet with Lucy Frazer, the financial secretary to…
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27 June
Cake Box sees profits surge to £15.8m
Cake Box has revealed its gross profits increased by 45% in the year up to 31 March 2022 to £15.8m. The cake retailer’s revenues also increased by 50.7% to £33m and its pre-tax profit climbed 83.3% to £7.7m. The company’s online sales grew by 41% in the period while the…
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27 June
Cath Kidston up for sale two years after collapse
Cath Kidston, the fashion and homeware brand, has been put up for sale two years after collapsing into administration, with the loss of nearly 1,000 jobs. According to Sky News, Baring Private Equity Asia (BPEA) has instructed advisers at PricewaterhouseCoopers (PwC) to find a new owner for the now wholesale-led…
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27 June
Investor support for Sainsbury’s real living wage mounts
A group of investors have put their support behind a shareholder resolution that could see all Sainsbury’s employees secure the real living wage when it goes to a vote at Sainsbury’s AGM on 7 July. The resolution, co-ordinated by ShareAction, is set to be the first Living Wage resolution to…
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27 June
High street footfall plummets amid cost of living strain
High street footfall fell 25% in May against the previous month, according to RSM UK’s analysis of the latest data from Datscha, showing that the biggest month-on-month decreases were seen in Glasgow (down 54%), Newcastle (down 40%) and Brighton (down 39%). Footfall is reportedly still 48% lower than pre-pandemic levels,…
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24 June
Inflation drives disposable income to ‘lowest ever level’
Household discretionary income has fallen -17.2% in May to £41.94 a week (equivalent to £167.76 per month), marking another “record” low and the seventh consecutive month where discretionary income for the average UK household has dropped. According to Asda’s Income Tracker, 20% of households now have ‘negative discretionary income’, meaning…
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