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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Jan- 2023 -31 January
Tesco to shake-up management and close counters, 2,100 jobs at risk
Tesco has announced a shake-up of its management structure alongside plans to shutter its remaining hot counters and delis, in…
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31 January
Pets at Home raises profit outlook
Pet retailer Pets at Home has raised its profit outlook after record Q3 consumer revenues, for the 12 weeks ended…
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31 January
Wickes sales grow 5.2% as energy-saving products provide boost
Wickes has announced that its like-for-like sales grew by 5.2% in Q4 up to 31 December, as it saw strong…
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31 January
Nearly half of FTSE retailers issued profit warnings in 2022
Profit warnings from UK-listed retailers increased by 48% in 2022 as rising costs prompted record levels of warnings, according to…
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30 January
Frasers Group increases N Brown stake
The Frasers Group has increased its shareholding in clothing and footwear retailer N Brown to become its second largest shareholder.…
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30 January
Lidl pledges to invest £4bn into UK food industry
Lidl has pledged to invest £4bn in British food businesses this year, as it plans to show its continued support…
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30 January
LVMH profits and revenues surge 23%
LVMH Moët Hennessy Louis Vuitton, the luxury goods group, revealed it recorded revenues of €79.2bn (£69.6bn) in 2022 and profits…
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30 January
Bestway acquires 3.45% share in Sainsbury’s
Bestway Group has announced it has agreed to acquire a total of 80,792,512 shares in Sainsbury’s, representing 3.45% of Sainsbury’s…
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30 January
Asda faces strike action after plans to cut jobs and reduce pay
Asda workers are reportedly planning strike action after the supermarket unveiled plans that could place 300 roles at risk across…
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27 January
Superdry lowers FY profit guidance to breakeven
Superdry has revealed it recorded an adjusted loss before tax of £13.6m for the 26-week period ending 29 October 2022,…
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