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 -4 May
Early May bank holiday provides footfall boost
The impact of two bank holidays has led to an uplift in footfall over the last week of April, up 29.5% year-on-year, rising 0.7% week-on-week. According to Springboard, the beginning of the week was still influenced by Easter, due to low comparables in the week before last on Easter Sunday…
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4 May
Boohoo profits sink 94% to £7.8m
Boohoo has announced its profit before tax sunk 94% to £7.8m in 2022, compared to £124.7m in 2021, according to its final results for the year ended 28 February 2022. The group said this is due to “lower growth” than anticipated and a “significant” increase in logistics costs. The group…
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4 May
THG boss eyes plans to grow capacity to £14bn orders a year
THG boss Matthew Moulding is reportedly eyeing up plans to increase its capacity in order to handle up to £14bn worth of orders a year, according to the Daily Mail. The outlet reported that Moulding has told city investors he is looking to invest an additional £200m to open a…
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4 May
Morrisons’ new owner to sell 87 petrol stations to complete £7bn deal
Morrisons’ new owner, Clayton, Dubilier and Rice Holdings LLC’s (CD&R), is set to sell 87 of its petrol stations to address competition concerns raised by the Competition and Markets Authority (CMA) on its £7bn takeover of the supermarket. Following its investigation, the CMA raised the competition concerns in relation to…
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4 May
Retail Jobs Alliance demands business rates reform
An alliance of retail companies including Tesco, Sainsbury’s, Greggs and Waterstones are forging a new coalition to urge Rishi Sunak to move ahead with reforms to Britain’s decades-old business rates regime, according to Sky News. The group, which is calling itself the Retail Jobs Alliance, has written to the chancellor…
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4 May
Joules CEO steps down as group warns of market challenges
Joules has announced that its CEO, Nick Jones, will step down from his role during the first half of the group’s next financial year following three years at the helm, as the group warned of subdued trading amid challenging market conditions. The group said that since joining the business in…
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3 May
Missguided gains interest from Asos, Shein, JD Sports and Frasers Group
Online womenswear retailer Missguided is reportedly attracting interest from Asos, Shein, JD Sports, the Frasers Group and the Issa brothers (the owners of Asda), all of whom are said to be in talks to buy the company. According to Drapers, private equity giants are also circling and sales documents are…
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3 May
Ocado faces backlash over boss Tim Steiner’s £100m pay plan
Ocado faces a shareholder backlash over plans to reward boss Tim Steiner with up to £100m at a time when the country is facing a cost of living crisis. According to the Daily Mail, he could receive the sum over five years if the share price triples under a “value…
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3 May
Asda owners in talks to sell £13bn EG Group
Asda owners the Issa brothers are reportedly in talks to merge their EG petrol forecourt business with Canadian convenience store giant Couche-Tard, according to the Wall Street Journal. Couche-Tard, which runs 7,000 convenience stores in the U.S. and as many abroad, EG Group have traded proposals in recent weeks that…
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3 May
Card Factory swings to profit in FY22
Card Factory plc has reported its pre-tax profits surged 167.7% to £11.1m for the year ended 31 January 2022 (FY22), compared to a loss of £16.4m in FY21. It said the performance comes in ahead of management’s expectations and amid “significant” trading disruption and inflationary cost pressures. Revenues also increased…
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