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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Oct- 2018 -26 October
Online retail order volumes slow before ‘Golden Quarter’
Online retail parcel delivery order volumes increased by only 6.4% year-on-year (YoY) in September, the lowest YoY rate in 2018 so far. According to the latest data from the IMRG MetaPack UK Delivery Index, order volumes “typically decline” month-on-month (MoM) around this time of year, but the rate of decline…
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26 October
Schuh profits fall 9.6% following ‘lack-lustre festive sales period’
Footwear retailer Schuh has announced a pre-tax profit fall of 9.6% down to £15m for the previous financial year. The retailer blamed a “lacklustre” festive period on an “overtly promotional retail market” in the footwear industry. Despite the profit fall the retailer announced a revenue rise in the year to…
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26 October
Amazon shares fall despite posting record profits
Online retail giant Amazon has posted record profits for Q3 in its latest financial results for the period ending 30 September 2018. Despite the company reporting its net income had increased to $2.9bn (£2.3bn), its shares fell by 9% as its sales and sales forecast came in below Wall Street…
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25 October
Philip Green named as man facing #MeToo allegations
Retail billionaire and Arcadia Group owner Philip Green has been named in Parliament as the man facing newspaper allegations of sexual harassment. Green was named by Lord Peter Hain who said he felt a “duty” to name Green under the protection of parliamentary privilege after being contacted by someone “intimately…
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25 October
Superdry founder looks to return to board
Superdry founder, Julian Dunkerton, has said that he want to return to the company’s board “in any capacity”. Dunkerton wants to revive the company’s fortunes following financial woes which have seen its shares fall from £20 per share in January, down to £7.29 per share. The founder is still the…
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25 October
Sainsbury’s and Oasis announce new in-store partnership
Sainsbury’s and Oasis have teamed up to bring Oasis fashion ranges to customers in five Sainsbury’s supermarkets. This is the first time Oasis has made its ranges available to customers in a supermarket setting. Two Oasis concessions will be open to customers before Christmas at Sainsbury’s Sydenham in South London…
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25 October
ScS to pull concessions from House of Fraser
Furniture and floorings retail chain, ScS, has announced it will cease trading within House of Fraser stores in its trading update for the 12 weeks ending 20 October 2018. The group said due to developments with House of Fraser over the last few months, it believed the partnership was “no…
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25 October
Debenhams to close 50 stores amid record £491m loss
Debenhams has announced it will close 50 stores after reporting a record annual loss of £491.5m in the year to 1 September. The embattled department store said it will close almost a third of its 165 stores in the next three to five years leading to the loss of around…
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24 October
Sainsbury’s to sell sex toys for the first time
Sainsbury’s has announced it is to stock sex toys for the first time, the supermarket chain said the new products are being launched as a response to British people who it says are “not satisfied with their sex lives”. The supermarket carried out research as part of its ‘Living Well…
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24 October
United Colors of Benetton co-founder dies aged 77
Gilberto Benetton, one the co-founders of fashion retail chain United Colors of Benetton, has died aged 77 following a short illness. The fashion chain was founded by siblings Gilberto, Luciano, Carlo and their sister Guiliana in 1965. Benetton became well known during the 80s and 90s for its bright, colourful…
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