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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May- 2022 -6 May
Sports Direct opens £10m Birmingham flagship
Sports Direct is opening its latest flagship store in the heart of Birmingham with a 60,000 square feet concept space that has seen an investment of over £10m. Located on New Street, Sports Direct Birmingham is set across four floors and it will be the first flagship to house USC,…
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6 May
Kingfisher appoints chief information officer
Kingfisher has announced the appointment of Chris Blatchford as the company’s new chief information officer (CIO). In his new role, Blatchford will lead the development and delivery of Kingfisher’s technology strategy as part of the retailer’s ongoing digital transformation. He joins from RELX Elsevier where he most recently served as…
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6 May
Retail M&A deal value doubles in Q1 2022
The first quarter of 2022 saw 18 deals completed across the retail sector, the second-highest quarterly level since the start of the pandemic, according to new analysis from Grant Thornton UK’s quarterly retail sector M&A report. The £1.5bn announced deal value over the period was more than double that of…
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6 May
McColl’s collapse ‘increasingly likely’, 16,000 jobs at risk
McColl’s has warned that it is “increasingly likely” that the group will collapse into administration, in a move that could place 16,000 jobs at risk. The group’s statement, which came in response to recent press speculation, said a third-party buyer would be sought if it was placed into administration, adding…
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5 May
Made appoints new independent non-executive director
Made.com has announced the appointment of Claire Valoti as an independent non-executive director, and she will join the company’s board of directors with effect from 13 May 2022. In her new role, Valoti will become a member of the audit and risk and remuneration committees. Matthew Price will step down…
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5 May
BoE raises interest rates to highest level since 2009
The bank of England (BoE) has raised interest rates to its highest level since 2009 – marking the fourth time it has taken action since December. The new rate of 1%, up from 0.75%, is the BoE’s latest attempt to curb the rampant rise in inflation – also at its…
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5 May
Zalando revenues dip despite rise in active customers
Zalando has revealed that its revenues for the period dipped 1.5% YOY to €2.2bn (£1.8bn) as it transitioned to a platform model, despite seeing its active customers rise 5% to 49 million. It also revealed that Gross Merchandise Volume (GMV) increased 1% to €3.2bn (£2.7bn) in the first quarter, which…
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5 May
30% of Ocado shareholders vote against £100m CEO bonus plan
Almost 30% of Ocado shareholders voted against the company’s remuneration policy that would see its chief executive Tim Steiner receive up to £100m over the next five years. In an update of the results following its AGM on Wednesday (4 May), Ocado revealed that the policy received 184,973,188 votes opposing…
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5 May
Next Q1 sales surge 22% despite online hit
Next plc has reported that its full price sales surged 22% year-on-year for the 13 weeks to 30 April (Q1), and 21% compared to pre-Covid levels, which is in line with expectations. However, total online sales in the UK fell 11% compared to the same period last year, although this…
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5 May
Consumers must brace for further price rises, BRC warns
The British Retail Consortium has warned that consumers can expect further rising prices as inflation continues to accelerate in the UK. It found that Shop Price annual inflation accelerated to 2.7% in April, up from 2.1% in March, which was above the 12- and six-month average price increases of 0.4%…
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