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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Jul- 2018 -25 July
BRC welcomes ‘much needed’ review into card-acquiring services
The British Retail Consortium (BRC) has welcomed news that the Payment Systems Regulator (PSR) will carry out a market review into card-acquiring services due to an “alarming increase in card fees and charges”. Andrew Cregan, policy adviser at the BRC has welcomed the review, and said it comes at a…
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25 July
Number of retail staff working nights doubles
New research has found that the number of retail staff working regular night shifts has increased by 50%. The research by the Office of National Statistics (ONS) found that between 2007 and 2017 the number of retail workers who worked nights as a regular shift pattern increased by 50%. According…
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25 July
Young people believe AI will find better gifts than them
Nearly half of young people think artificial intelligence (AI) will be better than them when choosing a gift for a loved one, new research suggests. Data gathered by digital consumer service Photobox Group, revealed 45% of young people prefer AI when it comes to finding a gift for a loved…
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25 July
Joules continues to defy retail gloom as sales and profits rise
British clothing retailer Joules has continued to defy the high street gloom by reporting double-digit growth in both revenue and profits. In its full-year results ending 27 May Joules posted group revenue of £185.9m, up 18% when compared with the £157m reported the previous year. Group revenue was boosted by…
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24 July
Hammerson shares rise as plans to sell £1.1bn of retail parks and cut board revealed
Shopping centre and retail park giant, Hammerson, has announced plans to reduce the size of its board and sell off £1.1bn in retail parks. The announcement, which comes just after the company sold parks in Bristol and Kirkaldy for £164m, said the company was planning to focus on “flagship retail…
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24 July
Retail sales buoyed by England football frenzy
Retail sales during the Football World Cup tournament increased on the days that England played, according to data from a retail software company. Vend figures showed sales grew by 6% when England played despite the 11% average decrease in retail sales compared with the previous month, throughout the tournament. Data…
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24 July
Warm weather and football fever boosts supermarket sales
The UK groceries’ market share has increased at its fastest rate this year as a result of football fever and sunny weather, new figures show. A report from consultancy Kantar Worldpanel revealed supermarket sales grew 3.6%, with sales of firelighters (47%) and fresh burgers (30%) increasing as well. The data…
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24 July
Marks and Spencer partners with Founders Factory to invest in retail startups
Marks and Spencer and Founders Factory have partnered for the launch of Founders Factory Retail, a joint venture focused on investing and growing startups. Marks and Spencer will become Founders Factory’s exclusive UK retail partner, investing in a number of startups sourced through Founders Factory’s global network as part of…
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24 July
Over 30,000 retailers in ‘significant financial distress’ at end of Q2
Over 30,000 retailers were found to be in “significant financial distress” at the end of June 2018, according to research Professional services firm Begbies Traynor’s ‘Red Flag Alert’ research for Q2 2018 found 472,183 businesses were experiencing financial distress, a 9% increase when compared with the same period the previous…
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23 July
Tesco to launch new discount chain as job roles advertised
A new discount supermarket chain from Tesco could be launched as early as September with adverts for staff already on recruitment websites. Tesco is set to launch the chain in order to provide British competition for German giants Lidl and Aldi. The supermarket chain refused to provide further detail on…
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