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- 2022 -5 August
UK recession can be averted, claims Truss
In an interview with Sky News’s Kay Burley last night (4 August), foreign secretary Liz Truss claimed she could avert…
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5 August
Tesco and Morrisons trim 50g from ready meals
Both Tesco and Morrisons have cut 50g from the weight of its range of own-label ready meals as they attempt…
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5 August
Tapestry COO to step down
Tapestry, a leading New York-based house of modern luxury accessories and lifestyle brands has announced the retirement of Tom Glaser,…
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5 August
Pets at Home Q1 revenues hit £404.7m amid ‘record’ VIP numbers
Pets at Home has reported that group revenues rose 7.1% year-on-year to £404.7m in the 16 week period from 1…
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4 August
BoE hikes rates to 1.75%, warns UK to enter recession until 2024
The Bank of England (BoE) has raised interest rates from 1.25% to 1.75%, marking the biggest rise in rates since…
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4 August
Footfall declines in July as north-south divide grows
Footfall weakened in July to -14.2% below 2019 from -12.3% in June 2022 with the month’s performance also highlighting the…
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4 August
Zalando to return to growth in H2 despite Q2 profit fall
Zalando, the online fashion retailer, has revealed it expects to return to growth in H2 despite seeing a 58% drop…
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4 August
Adidas lowers full year forecast as Q2 profits drop 27.9%
Adidas has reported that its operating profits dropped 27.9% year-on-year from €543m (£454.5m) to €392m (£328.1m) in the second quarter…
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4 August
Aldi named cheapest supermarket second month in a row
Which? has named Aldi as the cheapest UK supermarket for the second consecutive month, with savings of £12.62 compared to…
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4 August
ScS ups FY guidance as orders rise by 3.9%
ScS has upped its full-year guidance after its like-for-like order growth rose by 3.9% in the 52-week period ended 30…
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