News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Oct- 2018 -30 October
WHSmith acquires InMotion in £155m deal
WHSmith has announced the signing of an agreement for the acquisition of InMotion, a pure play travel retailer for $198m (£155m). InMotion is the largest airport-based digital accessories retailer in North America. Established in 1998, it operates a concession portfolio of 114 stores across 43 airports in the United States.…
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29 October
Autumn Budget 2018: Business rates cut for SMEs and new digital services tax
Chancellor Philip Hammond has confirmed plans to give smaller retailers a 33% cut to business rates and introduced a new digital services tax for companies with at least £500m in global revenue. The reduction in rates will take place over the next two years and is expected to save businesses…
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29 October
HMV tops Amazon on physical music sales
HMV has overtaken Amazon for physical music sales, the entertainment retailer increased its market share to 28% during the 12 weeks to 23 September. According to research published by Kantar Worldpanel, the release of the 100th edition of Now That’s What I Call Music which sold almost double its predecessor,…
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29 October
New Asda proposal could see up to 2,500 jobs slashed
A new proposal from ‘Big 4′ supermarket retailer Asda could see up to 2,500 jobs slashed, as the group is considering changing employees’ roles and working hours. The group said it needs to consider “changing the roles we need our colleagues to do” or the hours needed in particular parts…
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29 October
Chancellor to propose £900m rates relief plan for smaller retailers
Chancellor Philip Hammond is expected to announce a rates relief for retail SMEs and relax town planning rules on the high street. The budget announcement will be made today (29 October) and Hammond is expected to cut business rates by 33% for 496,000 small retailers, saving £900m. It is also…
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29 October
Oxford Street Strategy approved for public consultation
Westminster City Council’s Cabinet has has approved a new draft Oxford Street District Strategy to be taken forward for public consultation in November. The Council’s fresh Place Strategy and Delivery Plan has identified 96 projects across 87 streets and spaces in nine zones, including proposals for major improvements at Oxford…
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26 October
Richemont and Alibaba partner to bring Net-a-Porter to China
Richemont, the Swiss luxury goods group, and Alibaba Group has announce a global strategic partnership to bring Yoox Net-A-Porter (YNAP) to Chinese consumers. Under the partnership, YNAP and Alibaba will establish a joint venture to launch two mobile apps for Net-A-Porter and Mr Porter multi-brand, in-season online stores for consumers in China.…
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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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