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.
-
Mar- 2018 -13 March
Consumer spending suffers weakest start since 2012
The latest Visa UK Consumer Spending Index data revealed a reduction in overall consumer spending in February, calling it the weakest start to the year since 2012. On an annual basis expenditure declined by 1.1%, similar to the 1.2% reduction seen at the start of 2018. Overall, household spending has…
Read More » -
13 March
Study finds independent retail and leisure outlet growth is soaring
As multiple stores like New Look, Maplin and Toys ‘R’ Us close, a study by OnBuy.com has found that this has led to a rapid increase in the number of independent retailers. The study from the online retailer considered where multiple stores have declined in comparison to areas independent stores are…
Read More » -
13 March
French Connection breaks the retail slump, reduces losses
French Connection has today announced that it is close to a return to profit, after annual losses fell dramatically. The fashion retailer said in its financial year ending 31 January 2018, trading performance improved with group revenues up 0.5% to £154.0m. During the same period in 2017, they were down…
Read More » -
12 March
Farfetch poised to make £4bn IPO after hiring US banks
Online luxury retailer Farfetch has hired bankers from JP Morgan and Goldman Sachs as it readies itself to make an initial public offering (IPO). Farfetch, launched in 2008, enables nearly 900 boutiques and luxury brands to sell their designer products to around two million from 190 countries. According to reports,…
Read More » -
12 March
Retail footfall drops in February
Retail footfall decreased by 0.5% in February 2018, and is a major decline compared with the rate of 1.0% seen the previous year. According to the British Retail Consortium (BRC) this figure is better than the three-month average of -2.0% and the twelve-month average of -0.7%. However, Greater London and…
Read More » -
12 March
Quarter of major UK retailers likely to suffer ‘financial distress’
A new study of over 1600 larger UK retailers with total assets of £5m or over by Company Watch, a financial analytics firm, found over a quarter were financially vulnerable to rises in interest rate costs this year. Company Watch compares the financial strength of companies using its unique H-Score…
Read More » -
12 March
Mass debt for Claire’s Accessories causing bankruptcy talks
US based retailer Claire’s Accessories has been reportedly preparing for bankruptcy, following a mass of debt and a heavy reliance on shopping centres. According to Bloomberg Claire’s is $2bn (£1.4bn) in debt, causing instability for the retailer. Claire’s Stores Inc is attempting to reach new customers at local supermarkets and…
Read More » -
9 March
Valentine’s Day sales fall for fifth year in a row
Valentine’s Day like-for-like in-store sales fell by -1.6% in February, according to the BDO High Street Sales Tracker. The poor performance comes from a weak benchmark of -2.2% for the same period last year and is a further blow to a struggling high street which has seen the collapse of…
Read More » -
9 March
Co-op Group investigated for treatment of suppliers
The Co-operative Group Limited is facing an investigation by the Grocery Industry Watchdog due its treatment of suppliers. Christine Tacon of the Groceries Code Adjudicator launched an investigation having formed “a reasonable suspicion that the retailer may have broken the Groceries Supply Code of Practice (the Code)”. It relates to…
Read More » -
9 March
Shoe Zone, Karen Millen ‘named and shamed’ over minimum wage
Karen Millen and Shoe Zone are among the firms that have been ‘named and shamed’ by the Department of Business, Energy and Industrial Strategy (BEIS) for failing to pay their employees the minimum wage. In a list of 179 companies, Karen Millen failed to pay £9,847.20 to 28 workers while…
Read More »
