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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Aug- 2018 -9 August
Card Factory sales up 3.2% despite ‘extreme weather’
Card Factory has reported 3.2% growth in total group sales for the six months ending 31 July, despite the impact of the year’s “extreme weather conditions” on high street footfall. The retailer’s like-for-like sales decreased to -0.2%, a drop of 3.1% when compared with the same trading period last year…
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8 August
80 Homebase stores to shutter affecting 1,000 jobs
Homebase will announce the closure of 80 stores next week resulting in the loss of 1,000 jobs. The DIY chain has already closed 17 stores after it was bought out by restructuring experts Hilco for £1 in May, and is said to be filing for a CVA. Insolvency advisors Alvarez…
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8 August
BTA urges retailers to open their toilets to the public
The British Toilet Association (BTA) has urged retailers to open their toilets to the public after the number of public facilities in the country slumped from 3,955 in 2000 to 2,414 this year. Retailers are being asked by the association to join a Community Toilet Scheme as part of its…
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8 August
New charity shop count shows over 11,000
New research into charity shop volume on UK high streets has found there are currently 11,249 charity outlets across the country. The research, which the Charity Retail Association (CRA) told Retail Sector was the “first of its kind”, found that England alone has 9,437 charity shops on its streets. CRA…
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8 August
‘Misleading’ Sports Direct ad reprimanded by ASA
The Advertising Standards Authority (ASA) has banned a Sports Direct ad for “misleading” customers about the original price of a product, and warned the firm to make its delivery charges to online customers clearer. The sportswear retailer’s website was found to be promoting a pair of Karrimor walking boots for…
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8 August
Boxpark to ‘revive Brighton’ with new development
Retail and leisure development company, Boxpark, has revealed plans to revive Brighton’s Madeira Terrace into an internationally renowned ‘retail and leisure as entertainment’ destination. Plans have been submitted to Brighton and Hove City Council and demonstrate Boxpark’s desire to secure a 12-month exclusivity period to explore design, funding and management…
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7 August
Retail sales growth slows in July amid heatwave
Total retail sales growth slowed in July according to the latest BRC-KPMG Retail Sales Monitor, growing only 0.5% on a like-for-like basis. According to the report sales of non-food products struggled during the month as demand for seasonal purchases slowed due to the heat, which kept shoppers away from days…
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7 August
Phillip Day to snap up Jacques Vert
Retail boss Phillip Day is said to be preparing to add womenswear brand Jacques Vert to his retail portfolio, which has already seen the recent addition of Jaeger. Day will look to acquire the struggling brand through a separate company to Edinburgh Woollen Mill according to Sky News. The deal…
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7 August
Poundworld founder Chris Edwards says retailer was ‘badly managed’ by TPG
Chris Edwards, the founder of collapsed bargain retailer Poundworld, has criticised its owners TPG claiming they “badly managed” the chain. Poundworld’s remaining stores are all set to close by 10 August after it fell into administration on June 11. Private equity firm TPG attributed the collapse to a change in consumer…
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7 August
New Look reports profit rise
New Look has reported it has stabilised its profits, supported by an overachievement of its cost savings. For the 13 weeks to 29 June 2018 the retailer’s EBITDA was up 1.5% to £27.6m, which was stabilised by £70m annualised cost savings in Q1. Its underlying operating profit up 19% at…
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