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 -18 June
Card payments overtake cash for the first time in the UK
Cards have overtaken cash as Britain’s most frequently used method of payment, thanks to the rise in contactless cards. Steve Newton, executive vice president, UK and Europe of Worldpay, said the UK has passed “a major milestone on its journey to a more digital future”, adding that “the popularity of…
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18 June
Calvetron Brands to shut 102 Jacques Vert and Precis concessions
Benjamin Wiles, Trevor Birch and Philip Duffy of Duff & Phelps, joint administrators to Calvetron Brands, have announced they are serving notice on 102 Jacques Vert and Precis concessions in the UK and Republic of Ireland. These closures and those announced previously, including Dash and Eastex closures made on 4…
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15 June
Microsoft to take on Amazon in checkout-free showdown
Microsoft is reportedly working on technology to cut out cashiers and checkout queues in shops in the first challenge to Amazon Go who opened their checkout-free store in Seattle in January. Sources close to the development of the technology told media that Microsoft is developing software to track what shoppers…
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15 June
H&M sales fail to hit expectations
The Swedish fashion brand H&M has revealed that it missed its sales expectations for the second quarter sales growth in its latest financial report. The retailer reported a shares decrease of 3.6% in early trading as well as unchanged sales in local currencies from March to May including VAT, meaning…
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15 June
Parfetts Cash and Carry acquires Blakemore Wholesale
Retailer Parfetts Cash and Carry has acquired Middlesbrough-based food retail and distributor Blakemore Wholesale for an undisclosed sum. Parfetts now has seven branches as the acquisition geographically expands the wholesale service, as well as the Go Local Retail Club formats which span from the Midlands to the north of England.…
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15 June
Royal wedding boosts retail sales in May
The quantity bought in the retail industry increased by 1.3% in May 2018 when compared with April 2018, according to the Office for National Statistics (ONS). Feedback from retailers suggested that a sustained period of good weather and royal wedding celebrations encouraged spending in food and household goods stores in…
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15 June
Tesco’s sales rise with Booker’s acquisition
Tesco has increased its sales for the 10th quarter in the three-months to 26 May, meaning its acquisition of wholesaler Booker was a successful move. Tesco reported its group sales increased by 1.8%, with UK and Ireland sales increasing 3.5%. Similarly, Booker, which Tesco bought for £3.7bn last year, had…
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14 June
N Brown to close all of its remaining stores
N Brown Group, which owns fashion retailers JD Williams, Jacamo and Simply Be, has announced plans to shut down all of its remaining 20 stores, putting 240 jobs at risk. The company had a 0.4% dip in group revenue and 2.8% drop in product revenue in its Q1 report. Poor…
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14 June
World Cup sticker price rise sees newsagent distributor CEO resign
Mark Cashmore, the CEO of Connect newsagent distributors, has left the company after it saw shares plummet by 66% (an all time low) after the price of Panini’s World Cup sticker packs increased from 50p to 80p. Chief financial officer David Bauernfeind has also left the company following the price…
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14 June
Generation Z prefer ‘real-world retail’ over online shopping
Generation Z consumers enjoy ‘real-world retail experiences’ that focus on technology rather than online shopping, a new study has found. Commerce marketing technology company Criteo has released its Gen Z report, which analyses shopping perceptions and behaviours from thousands of members of Generation Z (Gen Z). It’s latest report revealed…
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