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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May- 2018 -25 May
Cath Kidston appoints Melinda Paraie new CEO
Cath Kidston, the global lifestyle brand, has appointed Melinda Paraie as its new chief executive. Paraie joins from John Hardy, the New-York based jewellery company where she has been the chief merchandising officer for the past year. Paraie, who is American and currently lives in New York, will move to…
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25 May
Sainsbury’s new ‘dogsbody’ contract hammered by unions, MPs and staff
Sainsbury’s new contracts which the supermarket says are a ‘boost’ to staff have been accused of bringing in a “dogsbody contract” by staff members speaking to the media. More than 100 MPs have written a joint letter saying that they believe the increase in basic pay is being used to…
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25 May
Homebase sold for £1 putting 11,000 jobs at risk
Australian retail group Wesfarmers has sold Homebase to HMV owner Hilco Capital for a token £1. Hilco specialises in restructuring and refinancing other companies and will acquire all Homebase assets, including the brand, its store network, freehold property, property leases and inventory for the nominal amount. Homebase was acquired by…
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25 May
April retail sales see recovery
Retail sales saw an unexpected boost in the month of April as consumers returned to the high street following the good weather. According to the latest figures from the Office for National Statistics (ONS), retail sales rose 1.6% in April. When compared with March 2018 the quantity bought in April…
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24 May
Poundworld to close 117 stores by 31 August
Poundworld is looking to close 117 of its 355 UK stores by 31 August as part of its CVA proposal, it has been revealed. The Grocer reports it has seen a document detailing the proposals, which suggest almost a third of its stores would be set to close and rent…
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24 May
B&Q owner Kingfisher reports poor Q1 sales
DIY retailer B&Q has reported a 9% drop in like-for-like sales for the three months to April 30 2018. According to the group the report reflects an ongoing issue of lowered footfall and soft demand patterns. The adverse weather conditions and temporary snow related store closures impacted B&Q’s like-for-like sales…
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24 May
Philip Green’s Arcadia records £10.9m loss
Topshop owner Arcadia Group – Philip Green’s retail empire – has recorded a loss of £10.9m in the year up to August 2017, starkly contrasting with last year when it profits were £59.4m. Accounts filed at Companies House showed the group also saw a 6% drop in sales down to…
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24 May
Shoe Zone’s profit more than triples in latest results
Shoe Zone has announced that its profits have more than tripled in its financial results for six months to 31 March 2018. The value footwear retailer saw statutory profit before tax reach £1m, a marked increase when compared with the £300,000 it posted over the same period in 2017. Shoe…
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24 May
Tesco to remove ‘best before’ dates to cut down on food waste
Supermarket giant Tesco is to remove ‘best before’ consumption guidance dates from around 70 fruit and vegetable lines to help reduce food waste. The move is being made to help prevent “perfectly edible” food from being thrown away. It follows research in the causes of food waste by the National…
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23 May
500 Tesco jobs face the axe amid online ‘refocusing’
Tesco has announced plans to close its Tesco Direct website putting 500 jobs at risk. Tesco Direct’s headquarters and Milton Keynes distribution centre are to close on 9 July after the supermarket giant said the site was a “small, loss-making part of the business” that had “no route to profitability”.…
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