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 -12 June
Henri Lloyd to slash 128 jobs despite coming out of administration
Henri Lloyd is to be brought out of administration by a company called Aligro UK Limited, and it will continue to trade from stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington. The stores kept open will save 38 jobs, however 128 jobs in total will be axed as stores…
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12 June
Ted Baker continues to buck high street gloom with continued revenue growth
Ted Baker has posted a 4.2% increase in group revenue for the 19-week period ending 9 June as it continues to defy the high street gloom. Ted Baker said the performance was achieved despite the impact of unseasonal weather across Europe and the East Coast of America in the early…
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12 June
New Look reports operating loss of £74.3m
New Look has reported an underlying operating loss of £74.3m in its latest financial results for the year to 24 March 2018. The embattled retailer had previously reported a 7.3% drop in revenue to £1.35bn for the year to 24 March 2018. In addition, the retailer decreased its UK like-for-like…
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11 June
Rihanna to bring Savage x Fenty pop up to London
International popstar Rihanna will be bringing her new lingerie line Savage x Fenty to the capital with a temporary pop up shop in London’s Shoreditch. The range which launched in May of this year will have a storefront at Shoreditch Studios from 13 to 17 June. It is the second pop…
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11 June
Nulty completes Azzedine Alaïa London flagship store
The lighting design consultancy Nulty has completed its renovation for the late fashion designer Azzedine Alaïa on its London flagship store, Alaïa. The redesigned Bond Street-based store, which has three floors and 6,000 sq ft, features the work of architect Aukett Swanke and designer Marc Newson with large pelota ring-like luminaire…
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11 June
Notonthethighstreet e-commerce director steps down
Ollie Scheers, the e-commerce director for online gift retailer Notonthehighstreet has announced his resignation. Scheers, who stayed at the online retailer for four years, now works for Huel, a powdered food producer, in the same role. Scheers began in his position last February. Barrie Seidenberg became CEO in April 2018…
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11 June
Henri Lloyd enters administration with 31 stores set to close
Henri Lloyd has announced it has entered administration which will see 31 stores close and a large amount of jobs at risk. RSM, Henri Lloyd’s administrators blamed “challenging trading conditions on the High Street” for the waterproof clothing company’s demise. House of Fraser, who have suffered retail struggles of their…
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11 June
Retail footfall returns to high street
High street footfall increased to 0.5% in May according to the latest BRC-Springboard Footfall and Vacancies Monitor. According to the report May’s better weather resulted in a marginal improvement in footfall across the nation’s high street and out-of-town shopping areas, but it wasn’t enough to overcome the long term trend…
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11 June
Poundworld rescue talks collapse putting 5,000 jobs at risk
Poundworld is expected to appoint administrators today after last-ditch rescue talks collapsed leaving over 5,000 jobs at risk. The discount retailer’s talks with potential buyer R Capital have collapsed only days after a deal with another investor, Alteri Investors, was also scrapped. This has led to its owner’s American equity…
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11 June
Suresite to move into retail with Costcutter deal
Suresite, the card services and risk management company, and Costcutter Supermarkets Group (CSG) have announced a new partnership deal. The agreement expects retailers to improve Suresite’s terms in their bottom line by gaining access to its processing services and technical expertise. It highlights the competitiveness of CSG, which has continued…
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