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 -19 April
WH Smith suspends Funky Pigeon sales after cyber security hit
WH Smith has confirmed its subsidiary, Funky Pigeon, has been hit by a cyber security incident that affected part of its systems on 14 April 2022. The group has now temporarily suspended orders from the card and gift retailer and is investigating the incident with external IT specialists, adding that…
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19 April
Asda unveils new chief financial officer
Asda has announced the appointment of Michael Gleeson as its new chief financial officer (CFO), who is set to join the business next year. The announcement comes as Asda’s current CFO, John Fallon, has decided to leave the business and take on new challenges. Gleeson will join the company from…
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14 April
N Brown names new group buying director
N Brown Group plc, the fashion and homeware digital retailer, has announced the appointment of Sara Bradley as the group’s new buying director, effective 27 April 2022, and she will report into Sarah Welsh, chief executive officer (CEO) of retail. In her new role, Bradley will focus on continuing to…
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14 April
Superdrug unveils major leadership reshuffle
High street retailer Superdrug has announced several new leadership moves as part of an executive board reshuffle which sees its female board presence bolstered. Simon Comins, previously commercial director, will move to chief commercial officer, as he marks 35 years with the business, starting in 1987 on the Superdrug shop…
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14 April
Dunelm Q3 sales surge 69% despite ‘significant’ headwinds
Dunelm Group plc has reported its total sales surged 69% to £399m for the 13-week period ended 26 March 2022 (Q3) compared to £236.6m in FY21 with growth across all channels. The group said its growth was achieved despite “significant” raw materials and freight cost increases, and ongoing supply chain…
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14 April
Asda owner eyes Butlin’s takeover
TDR Capital, one of the principal owners of Asda, is reportedly eyeing a takeover bid for holiday camp chain Butlin’s, alongside other interested parties that include Fortress Investment Group. According to Sky News, the firms are among those who have submitted indicative offers for the group over the last few…
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14 April
Supermarket shares crash amid Tesco profit warning
UK Supermarkets saw almost £1bn wiped off their value yesterday as the cost of living crisis began to take hold, after Tesco had warned of the future impact of rising costs and inflation in its annual report. Tesco and Sainsbury’s both saw their share prices drop following the latest update,…
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14 April
Sainsbury appoints new non-executive director
Sainsbury has announced that Jo Bertram will join the board as a non-executive director and member of the CR&S Committee following the annual general meeting on 7 July 2022. According to the retailer, Bertram is currently managing director, business and wholesale, at Virgin Media O2 and prior to this held…
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13 April
Zalando appoints senior vice president of Corporate Development
Zalando, the European online platform for fashion and lifestyle, has strengthened its senior leadership team with the appointment of Padmaja Bommareddy as its new senior vice president (SVP) of Corporate Development. In her new role, Bommareddy will be responsible for identifying and executing on opportunities for the company that will…
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13 April
Tesco sees profits treble but warns of soaring inflation costs
Tesco has revealed its pre-tax profits more than doubled to more than £2bn, up from £636m last year, for the year ending February 26, but warned of “significant uncertainties” and said performance would be affected by the investment needed to keep prices down. Meanwhile, total revenues jumped by 6% from…
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