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 -22 October
Debenhams ‘could close a third of its stores’
It is rumoured Debenhams could be closing up to a third of its stores following a series of profit warnings and poor trading results. The embattled department store has 166 outlets across the UK and is reportedly looking to save £100m. The Sunday Telegraph reported that the chain would save…
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22 October
House of Fraser’s Manchester Kendal store to close
House of Fraser has confirmed the closure of its flagship Kendals department store in Manchester, after rescue talks with landlords broke down. The store located in Deansgate is expected to close in early 2019, with around 160 staff expected to lose their jobs. A spokesman for House of Fraser said:…
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22 October
C.Banner considers sale of Hamley’s
C.Banner is said to be considering the sale of Hamley’s a week after it posted a 2016 fall from £1.7m profit to £9.2m loss in 2017. Rumours began after C.Banner received approaches from potential buyers and appointed corporate finance firm Vermillion Partners to advise on a sale according to Sky…
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19 October
Westfield London named UK’s top shopping centre
Westfield London has been named the UK’s best performing shopping centre according to new research. The research by GlobalData also placed Westfield’s Stratford City in second and Bluewater in third. The shopping centres were ranked on performance (footfall, sales, turnover, dwell time), potential (shopper spending and five year forecasts), provision…
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19 October
Intu considering John Whitaker’s £2.8bn takeover bid
Shopping centre owner Intu has announced that it is considering a £2.8bn takeover bid from John Whittaker. Whittaker currently owns 27% of the company and has formed a consortium via his investment firm Peel Group, US asset manager Brookfield and Saudi Arabia’s Olayan on a possible bid for the remaining…
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19 October
Amazon to open new Manchester hub; vows to create 1000 jobs
Amazon has announced plans to open a new corporate office in Manchester in 2019 and increase the capacity of its Scotland Development Centre and Cambridge Development Centre. The new investment is part of the company’s boost to UK innovation and is set to provide additional capacity for over 1,000 new…
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18 October
Online retail sales growth slumps to lowest level in 2018
UK online retail sales experienced its lowest September growth (+7.5% YoY) since 2014 last month, according to the latest IMRG Capgemini e-Retail Sales Index. According to the new research online sales have “faltered” since England’s World Cup Exit in July and the close of the hot summer, and despite a…
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18 October
Games Workshop warns of ‘coming uncertainties’ leading to 8% share slip
Games Workshop has issued a warning of “coming uncertainties” in the rest of the 2018/19 financial year, shares in the hobby retailer fell by 8% following the news. Despite the warning, the retailer said trading between 7 September and 7 October had “continued well” according to predictions with sales and…
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18 October
Retail sector ‘to face £186.45m business rates increase next April’
Retail firms will see business rates increase by £186.45 next April for the year 2019/20, according to real estate advisor Altus Group. September’s Consumer Prices Index (CPI) measure of inflation, announced on 17 October at 2.4% will determine business rate rises in England for the next year. It is its…
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17 October
ASOS reports 26% sales increase
Online fashion retailer ASOS has posted a 26% increase in its sales to £2.4bn compared with £1.9bn the previous year. UK retail sales accounted for £861m while its international retail sales amounted to £1.5bn for the full year to 31 August 2018. The group’s revenues also grew by 26% to…
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