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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Jun- 2018 -29 June
Homebase to axe 303 head office jobs
Embattled DIY retailer Homebase will restructure operations at its store support centre in Milton Keynes, resulting in the loss of around 303 head office roles, it has announced. The support centre had served both Homebase and Bunnings brands prior to the recent sale of the business. (will link to coverage)…
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28 June
London retail properties boost Crown Estate to £329m
The Crown Estate, the Queen’s main source of income, has announced a increase in return to the Treasury of £329.4m, boosted by its central london retail property. On a like-for-like basis income was up 4% when compared with the £316.7m returned in 2016/17. The Crown Estate said that business “continued…
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28 June
Head office jobs more likely to face axe than shop floor following national living wage rises
New research has found that those working in head office are more likely to lose their jobs as the result of an increase to the national living wage. Research by Foot Anstey found that 52% of companies would rather keep front line staff and make cuts to head office headcount.…
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28 June
ASOS partners with London College of Fashion for pilot course
ASOS has announced that it is piloting a training programme on circular fashion for its designers, in partnership with London College of Fashion’s Centre for Sustainable Fashion (CSF). Last year, the online retailer pledged to deliver the training as part of its 2020 Circular Fashion Commitments, which were signed at…
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28 June
Fashion market could lose £350m over next year
The British fashion market – covering clothing, footwear and accessories – could lose £350m in the next 12 months, according to new projections from shopper behaviour experts, Kantar Worldpanel. While overall shopper numbers have increased by 228,000 in the 52 weeks ending 3 June, the fashion market declined by 0.4%…
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27 June
City centres ‘must break reliance’ on retail, says think tank
Too many city centres across England and Wales are over-dependent on retail, and must swap shops for offices, housing and public spaces, according to a new report. Research published by the think tank Centre for Cities with support from Capita, examined for the composition of commercial space in UK cities…
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27 June
124,000 petition against Sainsbury’s wage contract changes
A 124,000 strong petition supporting Sainsbury’s shop floor staff’s working rights was submitted yesterday to the company’s headquarters by Siobhain McDonagh MP, as contract changes across the organisation could see staff wages “plummet”. Michelle Cooper, who started the petition and is using a pseudonym to protect her identity, said Sainsbury’s…
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27 June
One in four companies hit by ‘domino effect’ of another’s insolvency
Some 26% of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of the insolvency of another business…
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27 June
John Lewis profits could be ‘close to zero’
John Lewis has issued another profit warning and admitted that it expects profits before exceptional items to be “substantially lower” than last year, or even “close to zero”. The retailer also outlined the next phase of its strategy, saying it would focus on “differentiation not scale”, maintaining a higher level…
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27 June
Costa Coffee sales dip 2% in Q1
Coffee chain Costa has reported a fall in like-for-like sales at the start of the year, blaming a lack of shoppers on the high street. Although total UK sales grew by 5.2% due to new store openings, according to Costa owner Whitbread, the UK’s biggest coffee chain revealed a 2%…
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