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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Nov- 2021 -17 November
Amazon to stop accepting Visa credit cards in UK from Jan 2022
Amazon has announced that from 19 January 2022 it will no longer accept Visa credit cards as a payment method in the UK. In an email to customers, the online retail giant said that it has made the decision “due to the high fees Visa charges for processing credit card…
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17 November
UK retailers suffer one cyberattack every 8 days
The UK’s retailing sector has experienced 44 cyberattacks in the last 12 months – roughly one every 8 days – according to new research by Keeper Security. As part of its 2021 Cybersecurity Census Report, it found that three-quarters (77%) of retailers believe that the number of cyberattacks they are…
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17 November
Aerie and American Eagle stores to open in Carnaby
Shaftesbury has announced the opening of both Aerie and American Eagle stores in Carnaby. The will both occupy a space on Foubert’s Place and is due to open December 2021. Aerie is located at 19 Foubert’s Place with a 1,630 sq ft space over two floors and American Eagle is…
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17 November
Lidl becomes UK’s highest paying supermarket
Lidl GB has announced plans for its biggest ever investment into colleague wages, making it the highest paying supermarket in the UK. The supermarket revealed it is committed to investing £18m in wages, directly benefiting over 21,000 Lidl colleagues and over 80% of its workforce across Great Britain. Entry-level wages…
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17 November
Ethical buyer impacting retail strategies, study finds
The ethical buyer is having a “significant impact” on future retail strategies, according to a new survey from RSM. RSM’s What’s in Store? spoke to 250 retail executives to gauge what issues and consumer trends are driving boardroom conversations and business priorities for the future. The survey revealed that the…
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17 November
Tesco bolsters product buying team with new partnership
Tesco has partnered with product sourcing platform RangeMe in a bid to support its product buying teams with better access to the “most relevant” products for customers. Tesco will use the platform to help its buyers scale product sourcing efforts with streamlined submissions and simplified discovery tools. Buyers will be…
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16 November
Supermarket Income REIT acquires new sites for £73m
Supermarket Income REIT, the real estate investment group, has announced the acquisition of a Sainsbury’s supermarket in Swansea, South Wales, and a Tesco supermarket in Maidstone, Kent, for a total purchase price of £73m. The Sainsbury’s store opened in 1989 and was refurbished in 2016. The seven acre city centre…
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16 November
B&M launches £250m senior secured notes offering
B&M has announced that it intends to raise £250m through a sterling-denominated senior secured notes offer due in 2028. B&M said it would use the money raised from the secured notes, a type of corporate bond that gives an investor a higher-priority claim compared to junior notes when a company…
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16 November
M&S launches FAO Schwarz partnership
M&S has announced it is launching a new partnership with toymaker FAO Schwarz in 20 stores across the UK and online, just ahead of the festive period. The move will see a bespoke offer of around 50 toy products being selected for M&S customers, including toy racing cars, music mats,…
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16 November
Footfall begins to see Christmas rise
Footfall in UK retail destinations rose by 1.5% last week from the week before, according to Springboard. However, performance varied between retail parks – where footfall declined by -1.1% – and high streets and shopping centres where footfall rose by 2.5% and 1.7% respectively. Springboard said there “was also a…
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