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 -19 March
Hammerson rejects Klépierre takeover bid in ‘less than 24 hours’
French real estate investment fund Klépierre has confirmed its takeover bid of Hammerson was rejected in “less than 24 hours”. In a statement, Klépierre said on 8 March it made a proposal “on a non-adversarial basis” to the Hammerson board with the intention of starting “a constructive dialogue”. The offer…
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16 March
Conviviality surprise £30m tax bill prompts business review
Off-licence retailer Conviviality has announced it is reviewing the business while holding “constructive” negotiations with lenders, as part of the measures it is taking to handle its £30m tax bill. Earlier this week, the company said that the bill due for payment to HMRC on 29 March had only been…
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16 March
Nike brand president retires, CEO responds to workplace behaviour complaints
The brand president of sportswear manufacturer Nike, Trevor Edwards, has announced that he will be retiring from the company in August 2018 as the company faces down reports of workplace complaints. There is no suggestion that Edward’s resignation and the company’s response to workplace complaints are related. An internal memo…
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16 March
Topman removes shirt ‘mocking’ Hillsborough disaster
Topman has come under fire for selling a red football-style shirt that some Liverpool fans believe mocks the 1989 Hillsborough football stadium disaster, where 96 football fans died during a match. The shirt has the number 96 on the back with the words ‘What goes around comes around’ underneath. It…
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16 March
Currys PC World criticised for ‘rip off’ add-on charges
Currys PC World has been criticised for pushing customers into paying up to £40 extra for pre-setup laptops that they did not request. More than 100 customers complained to consumer watchdog Which? about the practice. Despite ordering the laptops online or in store for an advertised price, consumers were then…
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15 March
Surface Pro with LTE Advanced review
The Surface Pro with LTE Advanced is the latest edition of Microsoft’s hybrid tablet-laptop brand. It features a sim card slot that allows for extensive online connectivity when not connected to a wifi network, and has been completely redesigned from its previous iterations. The hardware It’s a professional piece of…
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15 March
Richemont’s Yoox Net-a-Porter acquisition approved by Italian regulator
Italian market watchdog Consob has given the green light for Richemont’s takeover of luxury online retailer Yoox Net-A-Porter (YNAP). Swiss-based Richemont, which owns brands such as Cartier, Montblanc and Dunhill London, already has a stake in the YNAP Group, but in January made a public tender offer to buy the…
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14 March
3,000 Toys R Us jobs to go as it confirms ‘controlled store closures’
All UK Toys R US stores are poised to shut down after administrators failed to find a buyer, resulting in a store closure programme and a possible 3,000 job losses. Toys R Us appointed Moorfields Advisory partners Simon Thomas and Arron Kendall to oversee an administration at the end of…
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14 March
Research shows Brexit doesn’t mean exit for international retailers in London
Research from real estate advisor, Colliers International, reveals that in the face economic uncertainty due to Brexit, Central London still remains a prime destination for international brands. Colliers found over 50% of stores on core shopping streets are international brands and 30 new retailers have arrived in the last year…
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14 March
Zara owner Inditex sees 41% jump in online sales
The owner of Zara and Massimo Dutti, Inditex, saw online sales revenue grow by 41% in 2017, according to a trading update. In 2017, Inditex invested €1.8bn (£1.5bn) in further developing its integrated stores and online model and upgrading its technology Specifically, the rollout of radio-frequency identification (RFID) technology (used…
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