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.
-
May- 2022 -16 May
Woolwich Shoe Zone to reopen after refit
Shoe Zone is set to reopen its Woolwich store on 27 May after it closed for a month to undergo a modern refit to improve customers’ shopping experience. Located on the partially pedestrianised Powis Street, the refitted store will stock brands such as Lotus, Heavenly Feet, Jana Softline, S Oliver…
Read More » -
16 May
Post-Covid UK Footfall recovery worsens
Footfall in UK retail destinations declined by -0.7% last week from the week before, a consequence of drops in footfall in both retail parks (-1.8%) and shopping centres (-2.3%) whilst in high streets footfall rose modestly by +0.7%. This meant that the gap from the 2019 footfall level widened to…
Read More » -
16 May
SEO and PPC: improving performance and balance
As retail brands spend more time, focus and resource online, it’s becoming increasingly important to avoid cannibalisation and find the right balance between search engine optimisation (SEO) and pay-per-click (PPC) ads. Both remain hugely important, of course, with SEO helping brands take market share away from competitors by ranking them…
Read More » -
16 May
Made.com appoints new CFO as it issues profit warning
Made.com has issued a profit warning as gross sales and revenues are expected to drop -15% and -7% respectively, differing from the initial 0% and 7% expected growth in sales and revenue this year. The company has also appointed Patrick Lewis as its new chief financial officer, with effect from…
Read More » -
16 May
Next faces investor backlash over CEO bonus
Next plc is facing a potential backlash from the Institutional Voting Information Service (IVIS) as the retailer’s chief executive, Simon Wolfson, has received the highest pay since 2015, while benefiting from government support. According to the Guardian, the Institutional Voting Information Service (IVIS), which is part of the Investment Association…
Read More » -
16 May
Screwfix to open 80 new stores
Kingfisher-owned Screwix is set to open 80 new stores by the start of next year, creating around 800 new retail jobs. Boosted by the home-improvement surge during the pandemic lockdowns, the retailer revealed it has seen sustained demand from tradespeople and is set to expand its presence in the UK…
Read More » -
16 May
Brightpearl launches ‘Growth Hacking’ podcast for online retailers
Bristol, UK, and Austin, Texas-based tech firm, Brightpearl, is launching its first podcast, the ‘Lightning 50 E-Commerce Growth Hacking’ show. Hosted by industry expert Caroline Baldwin, the podcast is a weekly 15-minute bitesize show in which Baldwin interviews retail luminaries from high growth companies. Each guest on the show has…
Read More » -
16 May
Tapestry sees Q3 net sales hit £1.17bn
Tapestry, the owner of luxury accessories and lifestyle brands including Coach, Kate Spade, and Stuart Weitzman, has seen its net sales total £1.17bn for the third quarter compared to £1.04bn in the prior year, representing a 13% increase. It also revealed gross profits of £826m for the third quarter of…
Read More » -
16 May
Walgreens snaps up £4bn dividend from UK arm
Walgreens Boots Alliance has reportedly extracted more than $5.3bn (£4.3bn) of dividends from its UK holding companies. According to The Sunday Times, the Boots owner snapped up the dividends despite taking “hundreds of millions” of pounds of government support during the pandemic. Boots’ UK-based parent company, Superior Holdings, paid out…
Read More » -
13 May
Pandora invests $100m into new crafting facility
Pandora has signed a memorandum of understanding to build a new jewellery crafting facility in Vietnam which will see the company invest $100m (£81.9k) to support its long-term growth. Construction is set to begin in early 2023 and production is due to start by the end of 2024. It will…
Read More »
