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 -21 June
UK’s indies outperform global retailers with 20% growth
Sales volumes for Britain’s independent retailers in the past 12 months were 20% higher than the global average, according to data from retail management software provider Vend. This insight comes from Vend’s first Retail Benchmarks Report, which compared data from over 13,000 retailers and found average monthly sales volumes per…
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21 June
Dixons Carphone profits plummet 24% despite sales boost
Dixons Carphone’s profits have dropped by 24% in a year despite seeing a 3% increase in sales. In the 12-month period ending 28 April 2018, group profit before tax contracted from £500m to £382m, impacted by a negative £87m year-on-year loss from “revaluations and insurance contract terms”. However like-for-like revenue…
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20 June
EXCLUSIVE: Starbucks says ‘no UK store closures’ after US announcement
Starbucks’ recent US store closures announcement “does not affect” its UK stores, Retail Sector has learned. The clarification comes days after the US business said it would increase its store closure rate to 150 amid weak sales forecasts and a falling share price. Historically the company closes 50 underperforming stores…
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20 June
Sainsbury’s trials ‘relaxed’ shopping lanes
Sainsbury’s has introduced a relaxed shopping lane at its Prestwick store in a trial which will run for a month. The shopping lane is for shoppers who take a little longer in the supermarket, allowing them to be slower than the regular customer. This measure is said to be potentially…
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20 June
Welsh face beer and soft drinks shortage during World Cup
A beer and soft drinks shortage has hit the industry in Welsh pubs and shops this summer, just in time for massively increased demand during the World Cup. Drink-makers are concerned over CO2 supply, gas which carbonates beer and soft drinks, at the time when temperatures are rising. The cause…
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20 June
Hornby announces £10.1m loss
Hornby has announced a pre-tax loss of £10.1m and “lower than expected sales” leading to shares plummeting by 20% this morning. Revenue at the toy manufacturer has also dropped 20% to £37.5m and losses after tax rose to £9.9m. A Hornby spokesperson told Retail Sector a key factor in the…
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20 June
Independent retailers feeling ‘optimistic’ about high street future
More than half of the nation’s independent high street retailers are optimistic about the future of their local high street – and four out of five shoppers would miss their local high street if it was no longer there. This is according to new research to launch the government-run Great…
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20 June
Retailers still lack critical data security measures
Retail businesses in the UK still lack critical data security policies, procedures and trainings, according to a new report. Data from secure paper shredding firm Shred-it’s annual State of the Industry Report showed 25% of retailers have no information security policies or procedures in place, and over 35% have no…
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20 June
House of Fraser lenders agree to extend loans
House of Fraser has agreed an extension for its loans ahead of this Friday’s vote on a possible CVA that could see 31 stores close. According to the Press Association, the lender has conditionally agreed to a £125m loan as well as a £100m revolving credit facility providing the planned…
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19 June
Eat avoids CVA decision following sales boost
Sandwich chain Eat has avoided making the decision to draft in advisors as recent closures and an increase in sales have put the company back on track, Retail Sector understands. In February, the chain was reported to have appointed advisors KPMG to help it with its restructuring plan which included…
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