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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May- 2022 -12 May
UK economy shrinks in March
The UK economy shrunk by 0.1% in March as consumers started to feel the bite of rising energy prices and the cost of living. The latest figures also come after a period of no growth in February. During the period, services fell by 0.2% on the month and was the…
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12 May
Hotter Shoes boosts Unbound Group’s Q1
The Unbound Group, which owns a stable of brands aimed at the 55+ demographic, has hailed a strong performance from its footwear brand Hotter Shoes for its Q1 period ending 4 February. The retail group said Hotter delivered a double-digit increase in revenue against the comparator period last year as…
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12 May
Covent Garden announces raft of new retail openings
Capital and Counties Properties PLC has announced a number of new brands to the Covent Garden estate, including TAG Heuer, Chestnut Bakery, Empresa, Parfums de Marly and Vuori. French Haute Perfumery, Parfums de Marly will be opening within the Market Building later this year. Additionally, Southern California-inspired premium performance brand,…
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12 May
Superdry revenues bounce back as physical trading returns
Superdry has announced its FY22 revenues surged 59.8% year-on-year to £224.5m as Covid-related store closures and restrictions were lifted in the company’s key markets. However, this is down 21.8% compared to pre-Covid levels as footfall still remains “significantly” below pre-Covid levels. Overall, group revenue increased 8% to £600m, although this…
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12 May
JD Sports warns of headwinds despite sales hike
JD Sports has said it remains “conscious” of headwinds in the retail sector, despite reporting higher sales in recent weeks. Total sales in its like-for-like businesses rose by 5% against last year in the first 14 weeks ended 7 May 2022. The retailer said this was a “positive reflection of…
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11 May
Eddy’s Food Station opens first of 30 stores
Eddy’s Food Station, a new convenience store retailer, has opened its first of 30 new sites today (Wednesday 11 May 2022), creating 14 new jobs in Alloa. The opening comes amid plans to open a further 30 stores, which will create 500 roles across central Scotland, over the next five…
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11 May
Ikks Paris makes UK debut
French fashion and lifestyle brand, IKKS Paris, has marked its UK debut with the company’s first flagship in the country set to open on Carnaby Street this month. The 2,610 square foot store spans two floors with a full collection of womenswear, menswear, and kidswear. It comprises a lounge area…
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11 May
Motatos bolsters senior team ahead of UK launch
Swedish-based grocery retailer, Motatos, has strengthened its leadership team ahead of its launch in the UK next month. It has hired Christabel Biella as UK country manager, who brings a decade of UK retail experience to the group. Her previous roles include merchandising and purchasing roles at House Of Fraser,…
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11 May
Tesco online lead departs for Google
Tesco’s managing director for online has departed the company in order to take up a similar position at Google’s cloud computing business Google Cloud. Chris Poad, who took up the position at Tesco in October 2019, has overseen the ‘Big Four’ grocers online department as it tackled the lockdown surge…
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11 May
Rising cost of living dents April retail sales
Retail sales decreased by 0.3% in April compared with the year prior, marking the first decline in 15 months as the rising cost of living starts to affect shoppers’ spending habits. According to the latest data from the British Retail Consortium (BRC) and KPMG’s retail sales monitor covering the four…
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