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 -10 May
Named and shamed: Underpaid retail staff among 200,000 to receive £15.6m back pay
HMRC has identified £15.6m in pay owed to more than 200,000 of the UK’s lowest paid workers, following an investigation from 2017 to 2018. This was an increase from the £10.9m that was owed to 98,000 workers in the previous year. Earlier this year, Karen Millen, Shoe Zone and bedroom…
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10 May
Homebase receives bid from former Comet owner
Opcapita, the former owner of Comet has put in a bid of an undisclosed amount for Homebase according to Sky News. Homebase owners Wesfarmers are looking to sell the chain following their 2016 takeover and are offering a £100m dowry to any potential buyer. Homebase reported a $97m trading loss…
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10 May
Next defies gloom with Q1 sales growth
Fashion retailer Next has recovered from its “most challenging year” reporting a Q1 sales increase of 6% compared with last year. Next said that the results were better than expected and around £40m ahead of its internal forecast, boosted in recent weeks by unusually warm weather. The company’s online sales…
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10 May
Morrisons announces strong start to 2018
Supermarket giant Morrisons has reported a strong start to 2018, with like-for-like sales increasing by 3.4% during the 13 weeks to 30 April. The figure is comprised of retail sales, 3.0%, and wholesale, 0.4%. Total sales were up 2.8% (up 5.8% including fuel) as a result of store closures in…
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9 May
Retail sales ‘fall off a cliff’ in April
Like-for-like sales fell by 4.2% in April, according to the British Retail Consortium’s (BRC) latest BRC-KPMG Retail Sales Monitor. Online retail bucked the overall trend of declining sales, with growth in all categories except toys and baby equipment. According to the report, retailers hope for a “buoyant May, boosted by…
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9 May
Sainsbury’s singing CEO takes £1.8m from share awards
Sainsbury’s CEO Mike Coupe has snapped up £1.8m in share awards following the company’s merger with Asda. Coupe also sold 286,663 shares worth £845,655, in order to pay tax on his share plan. The supermarket boss received the shares in two tranches of 329,676 and 279,024, a total of 608,700…
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9 May
Zalando reports strong start to 2018 with revenue up 22%
Online fashion retailer Zalando has reported that in the first quarter of 2018 its revenue increased by 22 % to €1.96bn (£1.71bn). Zalando achieved adjusted EBIT of €0.4m (£349,931) and remained at breakeven. As a result the company confirmed its full-year guidance of revenue growth at 20-25% and an adjusted…
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9 May
The Rolling Stones to launch Selfridges pop-up
Iconic UK rock band The Rolling Stones have announced they will launch a pop-up shopping experience in Selfridges stores across the UK. The store will be open from 14 May to 3 June and will sell new merchandise as the band’s No Filter tour reaches Britain on 22 May. The…
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8 May
Asda-Sainsbury’s merger fears voiced by industry bodies
Trade bodies and environmental groups fear the proposed merger of Asda and Sainsbury’s will further squeeze UK food producers and result in sliding ethical and environmental standards, Retail Sector can reveal. An array of industry spokespeople said the consolidated retail group would represent near-monopoly status in many towns in the…
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8 May
Sports Direct launches legal action against House of Fraser over CVA disclosures
Mike Ashley, owner of Sports Direct, filed a petition against House of Fraser on Friday (5 May) following the department store’s decision to close some of its outlets. Sports Direct holds an 11.1% stake in House of Fraser and Ashley claimed the company was “frozen out” and “repeatedly denied information…
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