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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Feb- 2022 -21 February
Wayfair strengthens technology leadership team
Wayfair Inc. has announced that Ashwin Rao has joined the company as chief science officer, and Niraj Nagrani as vice president of global supplier marketplace, pricing, catalogue and merchandising technologies. Both leaders will report to Wayfair’s incoming chief technology officer, Fiona Tan, and they join Wayfair’s bench of technologists across…
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21 February
Howdens chairman Richard Pennycook to retire from board
Howdens has announced that Richard Pennycook has indicated his intention to retire from the board with effect from 17 September 2022. Pennycook was appointed as the firm’s chairman in May 2016, having joined the board in September 2013, initially as a non-executive director and chairman of the audit committee. Howdens…
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21 February
Matalan founder Hargeaves loses 20-year court battle over tax bill
Matalan founder John Hargreaves has lost a long-running court battle with HMRC as he attempts to avoid a tax bill that may reach up to £135m. He has now been ordered to pay the tax bill after the Upper Tier Tribunal ruled he owes Capital Gains Tax in relation to…
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21 February
Made.com CEO to step down
Made.com Group Plc has announced that Philippe Chainieux will step down from his role today as chief executive officer (CEO) of the group and its board for family reasons. Nicola Thompson, currently chief operating officer (COO) of the group, joins the board and will assume the position of Interim CEO…
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21 February
Bira welcomes sales rise, but warns ‘all is not well’
The British Independent Retailers Association (Bira) has said it is “pleased to see a rise in retail sales”, but warned retailers against “falling into the trap of thinking all is well”. It was commenting on the recently released figures by the Office for National Statistics (ONS) for the UK retail…
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21 February
Tesco removes 1.5 billion pieces of plastic packaging
Tesco has scrapped more than 1.5 billion pieces of plastic across the group following the launch of its 4Rs – Remove, Reduce, Re-use, Recycle – packaging strategy. Over the last year, it said it has identified and removed 500 million more pieces of unnecessary plastic from the business in a…
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18 February
Overseas appetite soars for UK retail sector M&A
Overseas interest has created a surge in deal activity in the UK retail sector in 2021, with overseas acquirors presenting 43% of deals across the year, which is reportedly the highest level of activity seen in a decade. According to research from Grant Thornton UK, this is a “significant” increase…
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18 February
Kering hails ‘record’ revenues of €17.64bn
Kering has reported “record” revenues of €17.64bn (£14.72bn) in FY21, up 35% year-on-year from €13.1bn (£10.93bn) and up 13% from pre-Covid levels of €15.88bn (£13.25bn), with growth across all houses within the company and across all regions. Additionally, Kering achieved “record” operating income, growing 60% year-on-year to €5.01bn (£4.18bn), up…
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18 February
End of free Covid tests will harm workers, Union warns
Ending free tests and self-isolation rules, along with no masks, represents a “triple whammy” for Covid safety in stores, according to Usdaw Shoppers Union. It comes after news that government ministers are planning to stop supplies of coronavirus tests to universities in England, in the first case of ending the…
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18 February
JD Sports delays annual release but lifts outlook
JD Sports has announced the release of its annual results for FY22 are set to be delayed, however it added it expects the results to come in “slightly ahead of expectations”. JD revealed it has agreed with its auditors, KPMG, to delay the announcement to ensure that KPMG have “sufficient…
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