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 -5 June
H&M to change clothes sizes following customer complaints
Fashion retailer H&M says its clothes are to become bigger after several customers complained about their small size. One customer said on Twitter: “I remember trying on a size 12 shorts in H&M that wouldn’t even go over my knees, size 16 didn’t either. I gave up shopping there after…
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5 June
Birmingham’s Selly Oak Shopping Park acquired by investors for £94m
Selly Oak Shopping Park in Birmingham, home to a Sainsbury’s, Marks & Spencer, Nando’s and Superdrug, has been sold to a real estate investor for £94m. The Harvest Partnership, formed by Landsec and Sainsbury’s, sold the property to M&G Real Estate and Landsec, which will obtain 50% of the proceeds.…
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5 June
Smaller shopping centres worst hit by closures
Smaller shopping centres were the worst affected by the number of store closures last year, a new study has shown. Data compiled by retail and leisure researchers, the Local Data Company, showed shopping centres which were given a LDC Health Index Score ranking of 300 or lower saw vacancy rates…
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5 June
Quiz defies high street blues with 30% growth
Fashion retailer Quiz has bucked a calamitous high street trend in the first half of 2018, announcing revenue growth of 30% from the previous financial year. Physical store sales grew by 12% and online sales by 158% compared with last year. The company also saw pre-tax profit rise slightly from…
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5 June
AO World reports profitability on track for 2021 despite heavy losses
AO World has insisted it is still on track to be profitable by FY21 despite reporting a group operating loss of £16.2m up from £12m the previous year. The online electronics retailer has posted its full-year results for the period ending 31 March in which adjusted EBITDA was -£3.4m, a…
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5 June
Matalan announces results for its yearly financial overview
Matalan, the clothing retailer which has 227 stores, announced today its results of their yearly financial performance. Total revenue was almost £1.1bn with an increase of 11.7% in full price sales. Jason Hargreaves, CEO of Matalan, said: “The business has delivered a strong year, in which it outperformed the market…
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5 June
Retail sales bounce back, jump 4% in May
Retail sales in May increased by 4.1% year-on-year, the highest growth reported since January 2014. According to the British Retail Consortium (BRC) and KPMG’s latest Retail Sales Monitor, the better weather and the bank holiday effect led shoppers to buy more garden furniture and summer fashion ranges, recovering some of…
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4 June
Mothercare vote mishap puts CVA under threat
Mothercare’s plans for a company voluntary agreement (CVA) to stave off further problems, have been plunged into uncertainty after a mistake was made during the counting of votes last week. It was thought that the CVA would see Mothercare’s Children’s World company pay off its debts. But last week’s vote…
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4 June
Tesco, Nisa and Aldi products recalled after ‘metal wire’ found
Own-brand products made for Tesco, Nisa and Aldi by the Addo Food Group are to be recalled after “small pieces of metal wire” were found. The Food Standards Agency (FSA) found potentially contaminated products include sausage rolls, pasties, pastry pies and slices. The recalled items all have expiry dates between…
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4 June
Amazon faces legal action over alleged ‘bogus’ self-employment
GMB, the trade union for ‘gig economy’ workers, has announced plans to bring legal action against three of Amazon’s delivery companies over what it calls “bogus” self-employment. The action, announced today (4 June) at GMB’s 101st annual congress in Brighton, is on behalf of people working as couriers and delivering…
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