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 -23 May
Primark set to overtake Marks and Spencer market share
Primark is set to overtake M&S to become the UK’s largest clothing retailer by market share, according to new data. The discount clothing chain will see its market share rise to 7% while M&S will see a drop to 7.6%. New data from Global Data has shown that Primark’s market…
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23 May
Boots posts revenue and profit drop
In newly filed accounts Boots has reported a drop in both its revenues and profits for its most recent financial year. In its strategic report for the year 31 August Boots posted revenues of £6.83bn down from £6.87bn the previous year. The beauty and pharmaceutical retailer also announced pre-tax profits…
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23 May
M&S profits dive 62% for full year
Marks and Spencer has reported a 62.1% drop in pre-tax profit for the year ending March 2018, amid an ongoing store closure programme. Profits before tax dropped from £176.4m to £66.8m during the year, and the cost of the store closure programme – which will see more than 100 stores…
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22 May
Adobe to acquire Magento Commerce for $1.7bn
Technology firm Adobe has entered into a definitive agreement to acquire Magento Commerce, an e-commerce platform, for $1.68bn (£1.24bn). According to the group the addition of the Magento Commerce Cloud will “enable commerce to be seamlessly integrated into the Adobe Experience Cloud, delivering a single platform that serves both B2B…
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22 May
Revealed: M&S names stores to shutter
M&S has announced the next tranche of UK stores proposed for closure or set to close as it reshapes its UK store estate with plans to take at least a third of sales online. The retailer will close over 100 stores in total by 2022, including 21 that have already…
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22 May
Tony Hoggett appointed Tesco COO
Former Tesco Asia boss Tony Hoggett has been appointed to the newly created position of chief operations officer (COO) of Tesco UK. Alison Horner, former chief people officer, will take over as CEO for Asia. According to the group Horner has a long history of operational experience and leadership within…
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22 May
Former Dixon Carphone boss appointed M&S director
Department store Marks and Spencer has appointed Katie Bickerstaffe and Pip McCrostie to its board as non-executive directors. Bickerstaffe was previously the CEO of Dixons Carphone, and will bring “a deep understanding of retail and operations, as well as experience in marketing, people, property”. McCrostie has experience in finance and…
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22 May
Topps Tiles see profits crack by almost 33%
Topps Tiles has seen a 32.6% drop in pre-tax profits, falling from £9.5m to £6.4m. The firm did see revenue growth in the six months ending on March 31 by 3.7% up to £110.5m from £106.6m. In a recent attempt to pull in more customers the retailer ran several sales…
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22 May
Tim Stacey named CEO of DFS
DFS, has announced that Ian Filby will be retiring as CEO to be succeeded by Tim Stacey, the current group chief operating officer (COO). Ian Filby will also step down from the board of directors on the 31 October 2018 following eight years at the helm of the furniture retailer.…
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21 May
House of Fraser CVA could close up to half its stores
House of Fraser is expected to close around half of its UK stores as part of its upcoming Company Voluntary Agreement (CVA) next month. According to reports around 30 of its 59 UK stores are set to be axed as part of the CVA with rent cuts expected to be…
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