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 -3 August
Retail salaries hit a five-month high but majority still feel underpaid
Average salaries for retail roles hit a five-month high in July, as pay increased by 1.1% month-on-month according to new data from independent job board CV-Library. However, despite salaries for retail roles seeing positive growth, a seperate survey by the group found that nearly two-thirds (62.2%) of retail professionals believe…
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3 August
Apple becomes first ever US company to be valued at $1trillion
Tech giant Apple has become the first ever US stock listed company to be worth $1tn (£767bn). Apple hit the landmark figure when its shares in New York increased in value to a record of $207.39 (£159). The stock had been on the increase after it posted strong results with…
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3 August
Selfridges open ‘Christmas Shop’ four months before the festive period
Selfridges has opened its ‘Christmas Shop’ four months before the festive period, with the department store claiming the decision was made to appease overseas visitors with whom the range is popular. The shop is expected to be fully stocked by September with over 4,000 items, including souvenir pencils priced at…
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3 August
Amazon tax bill halved despite profits increase
Amazon’s UK corporation tax bill was £4.5m in 2017, its lowest bill in five years, despite tripling its pre-tax profits in the same year. According to accounts filed on Companies House, the online retailer only paid £1.7m of that figure, after deferring £2.9m. Amazon’s pre-tax profits in 2017 were recorded…
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2 August
B&M appoints two female appointments to its board of directors
B&M has has appointed Carolyn Bradley and Tiffany Hall to its board of directors in non-executive roles. B&M announced that Bradley will join the audit and risk committee and the nomination committee of the company, while Hall will join the discount retailer’s remuneration and nomination committees. Bradley joins from a…
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2 August
Businesses with over 50 employees asked to publish gender pay results
A report by the business, energy and industrial strategy committee has called on government to ask businesses publish gender pay gap data to those with over 50 employees. The report recommends a “widening of the net of companies” required to report and for companies to be required to publish action…
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2 August
Over half of UK businesses braced for revenue drop due to Brexit
Over half of UK businesses believe Brexit will trigger a drop in revenue in 2019 according to new research by business intelligence and analytics solutions provider, MHR Analytics. The findings were published in the firm’s new report ‘Business Insight: The Data Surge’ which contains detailed polling of 200 senior decision-makers…
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2 August
Scotland sees ‘disappointing’ retail sales rise
Scottish government figures have found that retail sales in the country have risen by 0.3% between April and June compared with the three previous months. The UK as a whole saw a retail rise in sales volume of 2.8% according to the Office of National Statistics (ONS), the value of…
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1 August
C.banner pulls out of House of Fraser rescue
C.banner has pulled out its House of Fraser rescue deal worth £150m due to a dive in its share price. The Hamley’s owner said the deal had been “rendered impracticable and inadvisable” following the fall. House of Fraser is now urgently seeking a £50m investment in order to avoid collapse.…
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1 August
Zara unveils new delivery plans to compete with Asos and Boohoo
Zara has announced new delivery plans in order to compete with Asos and Boohoo, the new plans will see it combine its physical and online inventories. The combined inventories will mean items will be shipped from stores, with customers who live closer to stores will be able to get their…
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