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.
-
Jun- 2022 -24 June
Vodafone launches support hubs as SMEs struggle to ‘stay afloat’
Vodafone has launched two new resources to support SMEs after a new report commissioned by the group highlighted how SMEs are struggling to “stay afloat”. The resources include V-Hub, which offers free expert guidance, and business.connected, which is in partnership with Enterprise Nation, Cisco and Samsung, and is helping 150,000…
Read More » -
24 June
Tui chief executive to step down
The chief executive of Tui, Fritz Joussen, has announced he is stepping down after almost 10 years. He will leave the leisure, travel and tourism company at the end of September, and will be replaced by the company’s chief financial officer, Sebastian Ebel. Joussen, who took on the role in…
Read More » -
24 June
Spar launches new partnership with Deliveroo
Spar UK has announced its new partnership deal with Deliveroo, covering all 2,160 Spar stores in England, Scotland and Wales. This new partnership will “provide shoppers with more choice and access to essential items from Spar stores nationwide, delivered to their door by Deliveroo in as little as 20 minutes”.…
Read More » -
24 June
Zalando lowers guidance amid falling consumer confidence
Zalando has warned on its profits for the financial year FY22, with revenues now expected to grow 0%-3% to €10.4bn (£8.9bn) – €10.7bn (£9.1bn), as macroeconomic conditions have further deteriorated. Zalando said it no longer assumes a rebound of consumer confidence in the short-term, following a further fall in the…
Read More » -
24 June
Original Factory Shop mulls sale amid bid offers
The Original Factory Shop (TOFS) is reportedly mulling a sale after the discount retailer was approached with a “number” of takeover offers, according to Sky News. According to the publication, Duke Street, which has owned TOFS since 2007, has now instructed Deloitte to help it explore a potential takeover deal.…
Read More » -
24 June
Retail sales fall as consumers cut household spending
Retail sales volumes fell by 0.5% in May 2022 according to the latest figures from the Office for National Statistics (ONS), as consumers started to cut back on household spendign amid the cost of living crisis. According to the ONS, customers have reportedly begun switching away from purchasing household goods…
Read More » -
24 June
UK consumer confidence sinks to new record low in June
UK consumer confidence has fallen to the lowest level since records began during the month of June, according to the latest figures from GfK. GfK’s long-running Consumer Confidence Index decreased one point to -41, a new record with four measures down in comparison to the May 20 announcement, with one…
Read More » -
23 June
Nike to quit Russia after Ukraine invasion
Sportswear brand Nike has revealed it will fully pull out of Russia three months after suspending its business in the country due to the Ukraine war. It said it will scale down its operations in Russia over the “coming months”, having announced a temporary suspension on 3 March. It marks…
Read More » -
23 June
Flannels opens doors to first Liverpool flagship
Flannels has opened the doors to its first store in Liverpool today (23 June), bringing its fashion beauty and wellness experience to the North of England and marking the biggest investment through any Flannels (and Frasers Group plc) store yet. Set across seven floors and 120,000 square feet, the flagship…
Read More » -
23 June
Sainsbury’s partners with Newlife to recycle old stock
Sainsbury’s has announced the roll out of its partnership with Newlife, a UK-based charity for disabled children, to all supermarkets following a “successful” trial. Newlife has reportedly built its foundation around recycling, reprocessing, and reusing clothing to support 1.1 million disabled and terminally ill children in the UK. The partnership…
Read More »
