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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Apr- 2022 -28 April
Sainsbury’s warns profits to be hit by ‘external pressures’
Sainsbury’s has warned that it expects lower profits for the coming year due to “external pressures” and “uncertainties” affecting consumers’ disposable incomes. According to its preliminary results for the 52 weeks to 5 March 2022, the retailer said it expects 2022/23 underlying profit before tax of between £630m and £690m,…
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27 April
Coca Cola Q1 revenues hit £8.37bn
The Coca-Cola Company has reported its revenues surged 16% to $10.5bn (£8.37bn) in the three months ended 1 April 2022 (Q1 FY22), with 18% growth in organic revenues. Operating income also grew 25%, which included a six-point currency headwind, driven by “strong” organic revenue (non-GAAP) growth across all operating segments,…
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27 April
Marketplace misconception risks diverting business away from retailers
Nearly two-thirds (64%) of consumers expressed a desire to support independent retailers in 2022, yet 90% of them believe the only way to do so is to buy from them directly, according to a recent surevy. The survey, conducted across 2,000 working adults by British marketplace OnBuy, which is on…
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27 April
WHSmith H1 profits climb to £14m amid strong travel sales
WHSmith has announced its profits-before-tax climbed to £14m, up from a loss of £19m in 2021, due to an increase in travel revenues. In a trading update of its interim results for the six-month period ended 28 February 2022, Travel trading profit increased to £10m in 2022 from a loss…
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27 April
Ted Baker receives ‘number of bids’ as sales process continues
The board of Ted Baker PLC has announced it has received a number of non-binding proposals from potentially interested parties. In the next step in the formal sale process, Ted Baker is inviting a “focused selection” of such parties to enter into a due diligence process. As such, the company…
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27 April
May deadline set for Boots takeover bids
A deadline of May 16 has been set for final bids for Boots, according to Sky News. The company’s owner Walgreens Boots Alliance (WBA) issued the deadline as it looks to offload the business as economic issues threaten its valuation, with the price tag currently standing at up to £7bn.…
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26 April
Apple expands recycled materials used across products by 20%
Apple has revealed it has increased the use of recycled materials across its products, with nearly 20% of all materials used in Apple products in 2021 having been recycled. The company introduced certified recycled gold for the first time, and more than doubled the use of recycled tungsten, rare earth…
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26 April
The pursuit of pop-ups
“Since reopening, retail sales have shown a ‘mixed bag’ of results. While the reopening of physical stores was unquestionably positive for the sector, there are still substantial operating costs associated with reopening which will be affecting retailer margins,” said the British estate agency, Savills. Savills made the comments as the…
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26 April
Holland & Barrett recruits new Global Product director from M&S
Holland and Barrett has announced the appointment of April Preston as its new Global Product director. With more than 30 years’ experience across retail, manufacturing and restaurant industries, it said Preston joins Holland and Barrett as it continues to transform its product and services offering. Preston joins Holland and Barrett…
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26 April
Wilko welcomes new retail director
Wilko has announced the appointment of Amanda Jones as its new retail director, with Jones set to assume the role this coming July. She joins the group’s leadership team from Post Office Ltd, where she is currently Retail and Franchise Network director. According to the group, she will bring “strong”…
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