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 -15 June
Asda unveils leadership reshuffle
Asda has unveiled confirmed changes to its leadership team as Meg Farren, chief customer officer, is set to leave the business this summer to take up the role of general manager of KFC, UK and Ireland. Farren will hand over her role to Sam Dickson, vice president (VP) Asda Brand…
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15 June
Missguided founder to return as CEO under Frasers Group
Missguided founder Nitin Passi has returned to the business as CEO just two weeks after the company was acquired out of administration by Frasers Group. Passi founded Missguided in 2009 with Frasers describing him as the “driving force behind what became one of the most popular online fashion destinations”. However,…
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15 June
WH Smith sales rocket as travel rebounds
WH Smith has seen sales soar ahead of pre-pandemic levels in recent weeks as travel continues to rebound. Group revenues in the 15 weeks to 11 June 2022 were ahead of 2019 levels for the first time at 107%, with a particularly strong performance seen in its Travel business. As…
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15 June
H&M Group reports 12% surge in 2022 Q2
The H&M Group has reported that its net sales in local currencies increased by 12% in the second quarter 2022, the period 1 March 2022 to 31 May 2022, compared with the corresponding period last year. Net sales for its fashion business increased by 17% to £4.5bn. The group is…
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14 June
Gorillas announces launch of own-brand items
Gorillas has announced the launch of four proprietary private label brands, which include Gorillas Daily, Gorillas Premium, Hot Damn! and <start-up beer> in its key European markets of Germany, France, the UK, and the Netherlands. These labels will reportedly offer an assortment of around 50 products in 11 of the…
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14 June
Lidl to take Tesco to court over logo battle
Supermarket rivals Lidl and Tesco are set to face off in court after the German budget retailer claimed the ‘Big Four’ grocer is using the background of its trademarked logo to promote its Clubcard discounts. Lidl has said its background, a blue square containing a yellow circle with a thin…
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14 June
Walmart to recruit UK sellers to US online marketplace
Walmart has begun a push to bring UK exporters to its flagship US Walmart Marketplace in a move to embrace UK exporters and expand Walmart’s engagement with UK retailing. Sellers approved to join the marketplace will be offered the services of an onboarding team, as well as access to tools…
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14 June
Zalando acquires majority stake in Highsnobiety
Zalando has announced the acquisition of a majority stake in Highsnobiety, the “influential” global fashion and lifestyle media brand. Highsnobiety will reportedly act as a strategic and creative consultant to Zalando following the move, and founder and CEO, David Fischer, will retain a minority stake in the business. The two…
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14 June
UK unemployment rate hits almost 50-year low
The UK unemployment rate is close to a 50-year low point, having dropped by 0.2% to 3.8% for February to April 2022, and those unemployed for up to six months increased over this three-month period, marking the largest increase since late 2020. According to the Office for National Statistics, the…
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14 June
WFH shift may ‘permanently scar’ high streets, experts warn
The shift to working from home amid the pandemic has allegedly caused “permanent scarring” to the UK’s high streets as workers continue to stay away from city centres, Springboard has told the Telegraph. Speaking to the paper, Diane Wehrle, chief executive of the retail insights group, said footfall in towns…
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