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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Jul- 2022 -22 July
Retail sales fall in June despite Platinum Jubilee celebrations
Retail sales dropped by 0.1% in June 2022 following a fall of 0.8% in May 2022 despite the Queen’s Platinum Jubilee boost, according to data from the Office of National Statistics (ONS). The data, which covers 29 May to 2 July 2022, revealed that sales volumes were 2.2% above its…
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22 July
Amazon to ‘reinvent’ healthcare with One Medical acquisition
Amazon is set to acquire One Medical for $3.9bn (£3.3bn) following a new merger agreement, in a move that will see it expand further into the healthcare space. One Medical is a human-centred, technology-powered national primary care organisation that says it is “on a mission to make quality care more…
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22 July
Transitional relief could cost retailers over £1bn, BRC warns
Retailers have warned that the failure to fix the “flawed” Transitional Relief system could cost the industry over £1bn between 2023-2026, and it will reportedly force shops which are most impacted by artificially inflated rates bills to close, according to the British Retail Consortium (BRC). The BRC is calling for…
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22 July
JD Sports expects repeat ‘record’ profits amid strong sales
JD Sports has said it expects its full-year profit before tax to be in line with its previous “record” performance after welcoming strong sales in the first four months of the year, with total sales in its like-for-like businesses up 5% against the prior year. It noted this positive performance…
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22 July
Gov agrees deal with grocers to help with cost of living crisis
The Government has agreed deals with major UK grocers, including Asda and Sainsburys, to help ease the cost of living crisis as part of its Help for Households Campaign. The deals are designed to reduce costs at the checkout and ensure access to necessary services for families during the summer…
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21 July
Aldi to create thousands of jobs in logistics
Aldi has announced its plans to create around 1,000 logistics roles across the UK over the next 12 months. The news comes as the company looks to expand its distribution, transport and maintenance teams at its 11 Regional Distribution Centres nationwide. The new logistical roles will include both full-time and…
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21 July
Frasers Group swings to profit but warns of economic headwinds
Frasers Group has reported a “record-breaking” year with pre-tax profits surging to £344.8m in FY22, up from a loss of £39.9m in FY21, despite “significant” economic headwinds and challenges across the sector. Group revenues also increased 30.9% year-on-year from £3.62bn to £4.74bn, as the company recovers from Covid-19. However, Frasers…
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21 July
Gym & Coffee raises €17m from Castlegate to fund UK expansion
Athleisure brand Gym and Coffee has revealed it has secured €17m (£14.5m) in new funding led by Castlegate Investments, with additional funding from West.Ventures, a Palo Alto, CA investment and marketing firm. It said the latest investment will allow Gym and Coffee to propel its growth into new markets like…
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21 July
JD Sports and Aurelius Group enter talks on Footasylum sale
JD Sports has reportedly entered discussions to sell Footasylum to Aurelius Group, a private equity firm, following a “costly” clash with the CMA, Sky News has reported. Sky News said it has learnt that the group is now attempting to negotiate a sale of the brand “despite growing difficulties in…
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21 July
Ocado losses widen to £211m
Ocado has revealed an interim loss before tax of -£211m, for the 26 weeks ending on 29 May, which it said “reflects increased depreciation and amortisation costs with the ongoing roll out of OSP, and reduced exceptional insurance income received in the period, compared with the prior year”. Meanwhile group…
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