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 -21 September
Moss Bros’ revenue drops as hot weather and World Cup ‘distraction’ affects sales
Menswear retailer Moss Bros has reported a drop in revenue and sales in its half year financial results, covering the period from 28 January 2018 to 28 July 2018. The retailer’s total group revenue, excluding VAT, was down by 3.3% and fell to to £64.5m compared with the previous year.…
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20 September
Cath Kidston clarifies store review reports
Cath Kidston has clarified reports that it is to undergo a formal portfolio review and instead said that it is reviewing individual branches as leases come up for renewal. The fashion retailer, which has 65 stores across the UK, stressed it is looking to move stores where leases are coming…
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20 September
Poundland to open in 20 former Poundworld locations
Poundland is finalising plans to open stores in up to 20 large former Poundworld locations and has offered all former Poundworld staff to get in touch for “guaranteed interviews”. Initial openings in the first phase include Edinburgh (Cameron Toll), Killingworth (Tyne & Wear) and East Kilbride and Ayr in Scotland,…
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20 September
Online retail sales stay steady; mobile growth hits ‘all time low’
UK online retail sales held steady this August, as shopper spending reached 12.8% growth year-on-year (YoY) according to the latest IMRG Capgemini e-Retail Sales Index. The growth was in line with the three and 12 month rolling average increases of 12.8% and 12.9%, but below the three-month average 15.3% growth.…
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19 September
Orla Kiely ceases trading as parent company enters administration
Eponymous handbag and homeware retailer Orla Kiely has ceased trading as of Monday 17 September 2018. Its parent company Kiely Rowan has entered into administration and the group’s retail stores in London and Kildare and its online business have now been closed. However its home and design licensing business will…
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19 September
Tesco launches new discount brand ‘Jack’s’
Tesco has officially launched its new discount brand ‘Jack’s’ inspired by and named after Tesco founder, Jack Cohen. The launch of Jack’s is part of Tesco’s centenary celebrations which will see the business mark 100 years of delivering “great value to British shoppers”. Over the next six months Tesco will…
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19 September
B&Q owner Kingfisher sees 15% profit slump with H1 results
Kingfisher, which owns DIY retailers B&Q and Screwfix, has reported a 14.8% drop in H1 pre-tax profits, dragged down by “significant weaknesses” with its French operations. Underlying pre-tax profit dropped to £375m in the six months to 31 July 2018, compared with £440m the previous year, and total sales remained…
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19 September
CMA refers Sainsbury’s-Asda merger for further investigation
The Competition and Markets Authority (CMA) has announced the proposed merger of Sainsbury’s and Asda is to be referred for an in-depth ‘Phase 2’ investigation, after finding it raises “sufficient concerns”. The CMA said concerns arise from both grocery retailers in the UK possessing stores that overlap in hundreds of…
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19 September
Waitrose & Partners trials two-hour ‘rapid delivery’ service
Waitrose and Partners has launched the trial of a two-hour delivery service in selected London postcodes today (19 September). The supermarket has teamed up with startup retail delivery firm, On The Dot, to launch ‘Waitrose Rapid Delivery’ in the SW5, SW6 , SW10, WC1, WC2, EC1, CR5 and CR8 areas…
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18 September
Former BHS owner warned not to ‘rewrite history’ in court
Dominic Chappell, the former owner of collapsed retailer BHS, has been warned against making a “cynical attempt to rewrite history” in an appeal hearing against his conviction earlier this year. In January, Chappell was found guilty of three charges of neglecting or refusing to provide information and documents, without a…
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