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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Aug- 2021 -26 August
Supermarket leaders warn of Christmas supply shortages
Supermarket leaders from across the UK have warned of supply chain issues over the Christmas period due to the ongoing shortage of HGV drivers. Richard Walker, executive chairman at Iceland, told the BBC that he estimated the UK’s shortage of lorry drivers to now be 100,000, with the group 100…
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26 August
New Frasers Group CEO up for £100m pay package
Michael Murray, who is set to become the CEO of Frasers Group following Mike Ashley’s departure, is reportedly in line to receive £100m under a proposed pay package that will be linked directly to the group’s stock price performance. It comes as the group confirmed that Murray will also receive…
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26 August
Walmart commercialises delivery platform
Walmart is commercialising its delivery platform, with the launch of ‘Walmart Go Local’ which will see other retailers tap into its delivery services to get orders to customers. The US discounter said the concept is built on its proven ability to “execute delivery capabilities at scale with efficiency”. Over a…
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25 August
Central England Co-op backs Usdaw anti-abuse campaign
Central England Co-op has backed a campaign by The Union of Shop, Distributive and Allied Workers (Usdaw), “Freedom From Fear” which encourages customers to treat its staff with respect. Customers will be able to find out more about the campaign via posters in stores, which include details of how to…
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25 August
Capri Holdings names Joshua Schulman as Michael Kors CEO
Capri Holdings has named Joshua Schulman as the new CEO at Michael Kors, effective immediately. The group also revealed that Schulman will take over the role of CEO at Capri, who also owns Versace and Jimmy Choo, following John Idol’s move to executive chairman in September 2022. As CEO at…
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25 August
Urban Outfitters launches resale marketplace
Urban Outfitters has announced the launch of Nuuly Thrift, a resale marketplace where anyone can buy or sell women’s, men’s and kids’ apparel and accessories. Launching in autumn 2021, Nuuly Thrift will be a sister platform to Nuuly Rent, the subscription rental service for women’s apparel. The company said that…
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25 August
Morrisons takeover could weaken pension security, pension trustees warn
A takeover of Morrisons could “materially weaken” the security of its pensions schemes if additional protections are not implemented, according to the trustees of the schemes. The comment comes as part of a statement released from The Morrisons Retirement Saver Plan and The Safeway Pension Scheme, which represents over 85,000…
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25 August
Asda eyes former M&S boss for chief exec role
Asda is reportedly looking to Lord Rose of Monewden, the former boss of Marks and Spencer, as its new chief executive. According to The Times, the Issa brothers, owners of Asda, are considering Rose after Roger Burnely completed an early resignation earlier this month. Rose, who served as M&S chief…
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25 August
Ediston Property acquires Springkerse Retail Park for £22.85m
Ediston Property Investment Company has announced that it has acquired Springkerse Retail Park, Stirling, Scotland, for £21.85m, in an off market transaction. The price reflects an initial yield of 9.54% and was purchased from clients of LaSalle Investment Management. The Stirling Council area has a population of just under 100,000…
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25 August
Footfall dampened by wet weather
Footfall across UK retail destinations fell by -1.7% last week from the week before as wet weather continued to dampen footfall across the nation. According to Springboard, there was a drop of -2.2% in high streets versus more “modest” drops of -1.3% in shopping centres and -1% in retail parks. …
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