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 -7 August
Poundworld founder Chris Edwards says retailer was ‘badly managed’ by TPG
Chris Edwards, the founder of collapsed bargain retailer Poundworld, has criticised its owners TPG claiming they “badly managed” the chain. Poundworld’s remaining stores are all set to close by 10 August after it fell into administration on June 11. Private equity firm TPG attributed the collapse to a change in consumer…
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7 August
New Look reports profit rise
New Look has reported it has stabilised its profits, supported by an overachievement of its cost savings. For the 13 weeks to 29 June 2018 the retailer’s EBITDA was up 1.5% to £27.6m, which was stabilised by £70m annualised cost savings in Q1. Its underlying operating profit up 19% at…
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6 August
Game and HMV report ‘impressive’ sales growth
Entertainment retailers HMV and Game have reported an increase in shares of physical entertainment sales for the 3 months to 1 July, despite the overall market declining by 11%. The latest data on the physical entertainment market from Kantar Worldpanel shows a return to growth for mint games, supported by…
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6 August
Tesco and Carrefour alliance to start in October
Tesco and Carrefour have announced that their strategic alliance which aims to offer lower prices and improve the quality and choice of products available will become operational in October. Last month the UK and French supermarket giants revealed the long term relationship will see the two supermarkets making joint purchases…
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6 August
House of Fraser able to proceed with store closures after legal row ends
House of Fraser has settled its legal row with landlords meaning it can proceed with plans to close 31 of its 59 stores. Landlords had previously argued that slashing rents to support the department store’s rescue plan was unfair. The department store said it was “focused on concluding discussions with…
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6 August
Footfall drops in July as customers avoid high street in heatwave
The heatwave drew customers away from the high street in July, as footfall fell by 10.8% compared with the same month in 2017. According to the Ipsos Retail Traffic Index, footfall was down in all regions compared with July 2017 with Scotland and Northern Ireland seeing 6.5% less shoppers on…
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3 August
Retail salaries hit a five-month high but majority still feel underpaid
Average salaries for retail roles hit a five-month high in July, as pay increased by 1.1% month-on-month according to new data from independent job board CV-Library. However, despite salaries for retail roles seeing positive growth, a seperate survey by the group found that nearly two-thirds (62.2%) of retail professionals believe…
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3 August
Apple becomes first ever US company to be valued at $1trillion
Tech giant Apple has become the first ever US stock listed company to be worth $1tn (£767bn). Apple hit the landmark figure when its shares in New York increased in value to a record of $207.39 (£159). The stock had been on the increase after it posted strong results with…
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3 August
Selfridges open ‘Christmas Shop’ four months before the festive period
Selfridges has opened its ‘Christmas Shop’ four months before the festive period, with the department store claiming the decision was made to appease overseas visitors with whom the range is popular. The shop is expected to be fully stocked by September with over 4,000 items, including souvenir pencils priced at…
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3 August
Amazon tax bill halved despite profits increase
Amazon’s UK corporation tax bill was £4.5m in 2017, its lowest bill in five years, despite tripling its pre-tax profits in the same year. According to accounts filed on Companies House, the online retailer only paid £1.7m of that figure, after deferring £2.9m. Amazon’s pre-tax profits in 2017 were recorded…
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