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 -22 June
Footfall drops as strikes take action
Footfall across all UK high streets is down -8.5% compared to last week, as workers stay at home due to the transport strikes. London saw the greatest reduction, with a 17% drop from last week. Diane Wehrle, Insights Director at Springboard said: “The impact on train and tube strikes today…
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22 June
JD Sports profits double to £947m in FY22
JD Sports has recorded a “record” pre-tax profit of £947.2m in FY22, more than double the previous record set in the year to 1 February 2020. The group reported a strong performance from sports fashion retail in the UK and Republic of Ireland in particular, with profits in this area…
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22 June
Inflation hits 40-year high in May
Inflation reached a 40-year high in May 2022 as the Consumer Price Index hit 9.1%, up from the 9% reported in April 2022. This was largely driven by food and non-alcoholic beverages, transport and housing, water, electricity, gas and other fuels. Food price inflation was driven largely by staples with…
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21 June
Savoir Beds announces new managing director
Savoir Beds has announced the appointment of Nicholas Alexandre as its new managing director, effective June 2022. Alexandre will succeed Alistair Hughes, who will share his time between Savoir and his re-wilding project in Wales, UK. As co-owner of Savoir, Hughes has been at the helm of the brand and…
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21 June
The Midcounties Co-operative appoints new CFO
The Midcounties Co-operative has announced the appointment of Peter Kelly as its new chief financial officer (CFO), replacing Peter Dubois who has stepped down after 26 years with the society. Kelly will also take on executive responsibility for IT within The Midcounties. Previously, he served as head of finance, having…
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21 June
Gymshark appoints new vice president of marketing
Gymshark, the fitness community and apparel brand, has announced Carly O’Brien as its new vice president of marketing. O’Brien joins after three years as chief marketing officer of The Very Group, where she oversaw a team of over 200 people that were responsible for all marketing, adapting to shifting business…
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21 June
Hearing Direct launches holistic audiology service
Hearing Direct, an online authority in hearing solutions and support, has launched a new service, HDcare, in response to a surge in demand for digital audiology services. HDcare is a comprehensive service that combines “digital tools and services with real audiology expertise to give complete care to people with hearing…
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21 June
Quarter of UK retailers four weeks from collapse, survey finds
More than a quarter of UK retailers are just four weeks away from going bust due to supply chain issues, according to a Brightpearl survey. The results of the survey of 500 UK retailers, found that 85% of retailer businesses have been hit by supply chain issues in the last…
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21 June
Ocado taps investors for £575m amid tech expansion
Ocado Group plc, the online grocery platform, is set to raise £575m of new ordinary shares of 2 pence per share from its investors in a bid to support its technology rollout and further its positions in its existing and new products and markets. The proceeds are expected to give…
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21 June
Rail strikes represent ‘another blow’ for Scottish wholesalers
National rail strikes this week are set to represent ‘another blow’ for Scotland’s retailers and wholesalers. Nearly 90% of ScotRail services will be cancelled on Tuesday 21, Thursday 23 and Saturday 25 June, with city centre venues set to bear the brunt of the knock-on impact of the strikes. Nathan…
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