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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Sep- 2018 -27 September
New research shows majority of British people will buy local this Christmas
New research into Christmas online shopping has revealed that British people are increasingly buying from home-grown brands. The research, from CJ Affiliate’s Holiday Intelligence Report, showed that Christmas shopping in recent years has seen cross-border shopping volumes peak around the world, except in Britain. UK cross-border retail sales over the…
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26 September
eBay enters partnership with first UK city to boost retail
Online marketplace eBay has announced it has entered a 12-month partnership with the city of Wolverhampton to help small retailers get online, grow the local economy and demonstrate that online and high street retail can coexist. The partnership will see experts from the online marketplace stationed in the city to…
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26 September
Poundland to remove kitchen knives from stores
Poundland has announced it will have removed all kitchen knives from its 755 UK stores by the end of next month. The budget retailer said the decision was made through “thoughtful reflection about concerns raised by both communities and colleagues”. Knife crime in England and Wales has risen by 16%…
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26 September
Michael Kors acquires Versace for £1.6bn
Michael Kors has acquired Italian fashion house Versace for £1.6bn, with the deal expected to close in the final quarter of 2019. Upon the closing of the acquisition, Michael Kors Holdings will be renamed to Capri Holdings, with the name inspired by “the fabled island which has long been recognized…
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26 September
Next CEO issues stark warning over the risks of a no-deal Brexit
Simon Wolfson, CEO of clothing retailer Next, has issued a warning over the the dangers of a no-deal Brexit, and said the UK’s departure from the EU needs to be “carefully managed”. In a report released alongside the group’s latest financial update, Wolfson said there were “significant challenges” involved in…
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25 September
‘Weak consumer environment’ hits Card Factory profits
Card Factory has announced that a “weak consumer environment” has had a negative impact on pre-tax profits. The gift shop chain posted pre-tax profits of £22.7m during the six month period ending 31 July 2018, down 14% compared with the previous year. This is despite a total sales increase of…
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25 September
Three further House of Fraser stores to shutter due to ‘greedy landlords’
House of Fraser has announced it is to close three further stores in Hull, Edinburgh and Swindon, with new owner Mike Ashley saying he was unable to agree terms with “greedy landlords”. The retailer is currently in consultation with staff at the affected stores, and said its Bath store was…
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25 September
Next remains ‘cautious’ despite sales increase
High street retailer Next has posted a sales increase of 4.5% for the half year ending July 2018 but said it remained “cautious” in its outlook for the rest of the year. The retailer’s in-store sales amounted to £925.1m while its online sales were £892.3m for the six months. The…
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24 September
Richard Bottomley appointed non-executive director of Sports Direct
Sporting retailer Sports Direct has appointed Richard Bottomley as its new non-executive director, with effect from 1 October 2018. Bottomley has over 25 years’ experience working with listed companies during his time as a senior partner at audit, tax and advisory firm KPMG, and continues to be a member of…
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24 September
Retail found to have second highest number of underpaid staff
The retail sector was estimated to have the second highest number of staff who were paid less than minimum wage, accounting for 51,300 jobs. This is according to a report by HMRC as part of the government’s investigation and initiative to clampdown on employers underpaying their staff. The hospitality sector had…
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