News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Jun- 2022 -20 June
Asda paid £375m interest in takeover deal, accounts show
Asda reportedly paid £375.1m in interest as a result of its £6.8bn takeover deal last year according to recent accounts, The Times has reported. According to the paper, its new owners have not yet taken any dividends from the business, yet due to the £4.06bn of debt used to finance…
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20 June
Waitrose sees demand for English wines reach new high
Waitrose has revealed that customer demand for English wine is at an all time high, with sales up 47% year on year. Vine planting has increased across the country according to Waitrose, its wine experts predict the English wine industry will “reach new heights in the coming five to 10…
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20 June
Gov outlines buy now, pay later regulation
The government has announced plans to strengthen regulation of interest-free buy now pay later (BNPL) credit agreements, which will require providers to implement affordability checks. BNPL credit agreements can be a way to manage finances, allowing people to spread the full cost of a purchase over time. However, the government…
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20 June
Deliveroo appoints new chief financial officer
Deliveroo has announced that it has appointed Scilla Grimble as its new chief financial officer. Grimble, who is currently chief financial officer at MoneySupermarket.com Group plc, is expected to commence her appointment by no later than June 2023. She was previously interim chief financial officer at Marks and Spencer where…
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17 June
New Look appoints new CEO
New Look has announced that Helen Connolly has been appointed as its chief executive officer. Connolly has replaced Nigel Oddy as CEO after it was previously revealed he would be stepping down from the role on 6 June. Connolly was the former chief executive officer of Bonmarché for four years…
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17 June
Ikea to sell Russian factories as it scales down operations
Ikea has announced that it will start the process of finding new ownership for all four of its factories in Russia, and will sell out its home furnishing inventory in the country, as Ikea enters a new phase to scale down business in Russia and Belarus. On 3 March, Ikea…
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17 June
TDR snaps up eBay’s head of Europe
Asda owner TDR Capital has reportedly snapped up eBays head of Europe to become a partner at the firm from this Autumn. According to Retail Week, Rob Hatrell is set to take up the position at the Big Four grocer owner following three years of leading the online retail marketplace’s…
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17 June
Tesco sales fall amid changing customer behaviour
Tesco has revealed its UK sales dropped 1.5% for the 13 weeks ended 28 May 2022 (Q1) following changing customer behaviour due to the inflationary environment, although Tesco is still maintaining its profit guidance for the year. Overall, group retail sales rose 2% year-on-year to £13.57bn, with Tesco’s cash-and-carry business,…
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17 June
N Brown reports 2.1% fall in first quarter sales
N Brown has revealed its sales dropped 2.1% to £165.1m during the first quarter of the year. In the 13 weeks to 28 May 2022, N Brown experienced a 7.2% drop in sales (£31.1m) among its heritage brands, while its strategic brands, JD Williams, Jacamo and Simply Be, experienced a…
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17 June
Braehead announces new Flannels store opening
Braehead, the retail and leisure destination located in Glasgow and owned by property company SGS, has announced the opening of a new Flannels store. The luxury fashion retailer, owned by Frasers Group plc, has taken on a 10,000 sq ft unit and has committed to a long-term lease. Steve Gray,…
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