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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Sep- 2018 -25 September
Next remains ‘cautious’ despite sales increase
High street retailer Next has posted a sales increase of 4.5% for the half year ending July 2018 but said it remained “cautious” in its outlook for the rest of the year. The retailer’s in-store sales amounted to £925.1m while its online sales were £892.3m for the six months. The…
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24 September
Richard Bottomley appointed non-executive director of Sports Direct
Sporting retailer Sports Direct has appointed Richard Bottomley as its new non-executive director, with effect from 1 October 2018. Bottomley has over 25 years’ experience working with listed companies during his time as a senior partner at audit, tax and advisory firm KPMG, and continues to be a member of…
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24 September
Retail found to have second highest number of underpaid staff
The retail sector was estimated to have the second highest number of staff who were paid less than minimum wage, accounting for 51,300 jobs. This is according to a report by HMRC as part of the government’s investigation and initiative to clampdown on employers underpaying their staff. The hospitality sector had…
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24 September
Co-op replaces single-use plastic bags in 1400 stores
The Co-op has announced it will replace single-use plastic bags with a biodegradable alternative across 1,400 of its stores. The new compostable carrier bags can be used to carry shopping home and then be re-used as food waste caddy liners, it will initially be rolled out in towns, cities and…
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24 September
B&M fined record £480,000 for selling knives to children
Discount retailer B&M Bargains has been fined a record amount of £480,000 after two of its stores were found selling knives to children. The company was found to be selling the knives during an undercover investigation conducted by police and trading standard officers in east London. The retailer was said…
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24 September
60% of British people believe the high street will ‘eventually disappear’
New research has found that 60% of British people believe that the high street will “eventually disappear”. The research by Close Brothers Asset Finance also found that 85% of people feel the high street is in decline, with 70% adding that councils and the government are not giving “enough support”.…
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21 September
Dominic Chappell loses appeal against BHS conviction
Dominic Chappell, the former director and majority shareholder of the company that bought BHS, has lost his appeal against his conviction and sentence for failing to hand over information to The Pensions Regulator (TPR). In January, Chappell was convicted at Brighton Magistrates’ Court by District Judge William Ashworth of three…
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21 September
Strong retail sales growth in August helps strengthen British pound
Retail sales growth of 0.3% across all sectors in August, excluding food, clothing and petrol, saw the value of the British pound increase 0.7% against the dollar at $1.32. According to figures from the Office of National Statistics (ONS), the lower month-on-month growth rate in the quantity bought in food…
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21 September
House of Fraser decline leads to French Connection store closures
French Connection has announced it will be shuttering more of its stores following the closure of two under-performing branches in the last six months. The fashion retailer blamed the decline of House of Fraser and poor high street footfall on the fresh closures, and lost £15m in the six months…
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21 September
Walgreens Boots Alliance launches flagship store on Alibaba’s Tmall Global platform
Walgreens Boots Alliance and Alibaba Group Holding have announced the launch of a Boots flagship store on Tmall Global, Alibaba’s B2C platform for international brands and retailers. The deal will introduce a number of Boots beauty brands to more than half a billion consumers on Alibaba’s platforms in China. The…
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