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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Aug- 2018 -23 August
Crew Clothing acquires Saltrock Surfwear
Saltrock Surfwear, a leisurewear and accessories retail brand based in Devon, has been sold to Crew Clothing Group via a pre pack administration. David Pike and Mark Orton from KPMG were appointed joint administrators to Saltrock Surfwear Limited on 17 August. Immediately upon their appointment, they concluded a sale of…
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23 August
Laura Ashley full year profits plummet to £100,000
Homeware retailer Laura Ashley has announced its annual profit before tax reached a low of £100,000 in 2018, due to “difficult trading conditions”. In the group’s full year results, total like-for-like retail sales were down 0.4% and total group sales declined to £257.2m, a fall of £19.8m compared with 2017.…
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23 August
Online delivery volumes defy expectations in July
Online retail parcel delivery order volumes were up 15.2% year-on-year in July, according to the latest data from the IMRG MetaPack UK Delivery Index. The association said usually delivery growth plateaus during summer as people tend to go abroad, but as people stayed at home due to the hot weather…
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22 August
Moonpig owner acquires Dutch gift retailer
Photobox Group, the parent company of card and gift retailer Moonpig, has acquired Dutch online cards and gifting retailer Greetz. Greetz was founded in 2001 as an online greetings cards retailer and sold over 7.5 million cards in the Netherlands in 2017. The business has grown by 25% year-on-year and…
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22 August
Hackers claim to have information of 20,000 Superdrug customers
Superdrug has revealed it has been contacted by hackers claiming to have accessed the details of 20,000 of its customers. The health and beauty retailer posted on twitter warning its customers of the hack and it “may have resulted in the possible disclosure of some customers’ personal information”, advised its…
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22 August
Retailers commit to support farmers during drought
The NFU has reached out to the UK’s top nine supermarket retailers to express the difficulties farmers and growers are facing as a result of the drought brought on the by the recent heatwave. Aldi, Asda, Marks and Spencer, Morrisons, Lidl and Tesco have all committed to support the farming…
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22 August
TK Maxx parent company announces 12% sales increase
The parent company of TK Maxx, TJX, has announced it has seen a 12% increase in net sales for the last financial year, double last years figure. Comparable store sales for the company’s European division rose to 4% over the last quarter from just 1% over the same quarter the…
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21 August
Online retail spending stutters after England World Cup exit
UK online retail sales slipped to their lowest year-on-year (YoY) growth in 2018 so in July, as consumer spending “slumped” in the weeks following the end of World Cup. According to the latest IMRG Capgemini e-Retail Sales Index, online sales increased by just 10% (YoY) in July, below the three,…
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21 August
House of Fraser Oxford Street store saved but 627 warehouse jobs still at risk
House of Fraser’s flagship Oxford Street store has been saved from closure by its new owners. The store was due to close in January under the House of Fraser CVA that was announced in June 2018 before the company entered administration. However Mike Ashley’s company Sports Direct agreed to acquire…
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21 August
FRC fines KPMG £2.1m for ‘breach of ethical standards’ in Ted Baker audit
The Financial Reporting Council (FRC) has issued a £2.1m fine and “severely reprimanded” KPMG and its partner Michael Francis Barradell, after they admitted to “misconduct” in relation to audits of Ted Baker and No Ordinary Designer Label. Barradell also received a reprimand and a fine of £80,000 which was reduced…
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