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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Mar- 2018 -2 March
New look seeks CVA to reduce rent by 60%
New Look has asked if its landlords can slash store rents by up to 60% in order to try and reduce its £1.2bn debt. The fashion chain is seeking a company voluntary arrangement (CVA), a legal agreement which would enable it to jettison loss-making stores and agree rent reductions with…
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2 March
UK gaming sales grew despite consumer spending struggles
UK gaming sales grew to a record £5.11bn last year, despite consumer spending decreasing, new figures show. Trade body UK Interactive Entertainment (Ukie) stated that the market grew by 12.4% due to “world-class content for an ever-expanding eager audience”. Overall sales of games software increased by 8.3%, as it remains…
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1 March
Mother’s Day spending spree set to lift high street sales
Spending analysis from Liberis, a leading small business finance provider, has revealed that British shoppers are expected to shell out over £5bn in extra Mother’s Day spending compared to 2017. On average, Liberis predicts high street retailers’ card transactions will increase by 8% compared to a normal weekend. Florists are…
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1 March
Carpetright shares dive following profit warning
Shares in Carpetright have dropped by more than a quarter following a refreshing profit warning. The group announced that trading conditions in the weeks since 19 January have ‘remained difficult’. Shares fell by 24% in early trading, having fallen by over 60% over the past 12 months. Like-for-like sales have…
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1 March
UK shoppers put off by irrelevant retail offers
According to consumer research conducted by point of sale marketing firm Ecrebo, more than four in 10 (44%) UK shoppers shy away from brands that don’t offer them personalised, relevant offers. The aim of the research was to gauge consumer attitudes toward retail loyalty schemes, the benefits they offer and…
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1 March
Burberry appoints Riccardo Tisci as chief creative officer
Burberry has announced that Riccardo Tisci has been appointed chief creative officer, replacing longtime creative chief Christopher Bailey effective 12 March 2018. Tisci, who is a graduate of Central Saint Martins in London, will direct all of the fashion retailers collections and will present his first for the brand in…
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1 March
Poor washroom odour could damage business reputation
A study released by Initial Washroom Hygiene examined the state of air care in public and office washrooms, and the wide-ranging implications this can have on businesses. The global report (based on 5,000 respondents – 1,000 across the UK, Australia, France, Italy, Malaysia), titled ‘Washroom malodour: Experiences, perceptions and implications…
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1 March
Shoppers shun high street for online as January sees strongest growth since 2013
Online retail delivery order volumes were up 20.6% year-on-year in January, according to the latest data from the IMRG MetaPack UK Delivery Index. This was the strongest January growth for online order volumes since 2013. During the same period, footfall fell to its lowest January rate in five years –…
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Feb- 2018 -28 February
Maplin and Toys R Us go into administration
Toys R Us and Maplin have both entered administration today, as last minute attempts to save the retailers collapsed. Toys R Us was facing a £15m VAT bill, however poor sales has meant it was unable to pay the debt. All of toy retailer’s 106 stores will continue to trade…
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28 February
Pressures on shop prices ease
February shop price deflation deepened to 0.8% in February 2018 compared 0.5% with the previous month. According the British Retail Consortium deflation in non-food prices deepened in February, with prices decreasing at a rate of 2.2% compared to January when prices declined by 1.9%. This was the deepest deflation since…
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