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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Jun- 2018 -26 June
EXCLUSIVE: Mattressman accounts ‘disaster’
Mattressman has revealed that it entered a Company Voluntary Agreement (CVA) due to “inaccurate management accounts”, which led the company to believe it was profitable in Q1 and Q2 of 2017, Retail Sector can reveal. However in March this year it was found that it was losing money during that…
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26 June
Clarks CEO resigns following conduct that ‘fell short’ of company expectations
The CEO of family-owned footwear retailer Clarks has resigned after his “conduct, conversations and expressions fell short” of company expectations. Clarks said that it has accepted Mike Shearwood’s resignation “following an investigation into complaints that breached the company’s code of ethics on a number of occasions”. Shearwood joined Clarks as…
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25 June
Debenhams partners with local food companies
Department story chain Debenhams has partnered with independent local food companies to offer a variety of food options to customers. The new initiative, which has been tested in the company’s central Manchester, Trafford and Oxford Street stores, has led Debenhams with an 11% uplift in food sales after concessions of…
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25 June
Morrisons reintroduces paper bags to cut down on plastic waste
Supermarket chain Morrisons will be reintroducing brown paper bags for loose fruit and vegetables, in order to help reduce the approximately 150 million small plastic bags used annually by Morrisons customers. The bags are made from 100% recyclable paper and will have a see-through paper strip so that customers and…
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25 June
Goldsmiths jewellers owner appoints banks ahead of IPO listing next year
The parent company of British jewellery retail chain Goldsmiths has appointed two banks to manage its flotation on the stock market next year. Aurum Holdings, which also owns Watches of Switzerland, has appointed Goldman Sachs and Barclays to aid with a public listing that may take place in London next…
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25 June
MPs to investigate environmental impact of ‘fast fashion’
The Environmental Audit Committee has launched an investigation into the social and environmental impact of disposable ‘fast fashion’ and the wider clothing industry. The inquiry will examine the carbon, resource use and water footprint of clothing throughout its lifecycle. It will also look at how clothes can be recycled, and…
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25 June
More than 130 jobs cut as Mattressman enters CVA
Mattressman has announced it is to enter a Company Voluntary Agreement (CVA) which will see the closure of 14 of its 25 stores. The store closures will see 136 jobs cut as the bed retailer looks to “downsize” and begin a “restructuring process”. Mattressman looked to be in rude health…
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22 June
House of Fraser CVA approved by creditors, 31 stores to close
House of Fraser has announced that its Company Voluntary Arrangement (CVA) proposals have been approved by the company’s creditors in a final agreement that will see 31 stores close. The creditors’ meetings were held at 10am today and the company with both CVA proposals were approved. House of Fraser said…
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22 June
Chanel reveals profits for the first time
Fashion brand Chanel has released its profit figures for the first time in its 108-year history. Chanel saw an 18% rise in profit on last year, rising to £1.35bn and sales up by 11% to £7.5bn on the previous year. The brand, known for its luxury jackets, perfumes and handbags…
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22 June
House of Fraser focuses on ‘brand renewal’ ahead of CVA decision
House of Fraser is to renew its product and trade strategy as part of a transformation journey as its shareholders prepare to vote on its company voluntary agreement (CVA). The plan will focus on “ensuring House of Fraser becomes a destination for customers to shop their favourite brands while providing…
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