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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Mar- 2018 -26 March
House of Fraser holds emergency refinancing talks
Department store group House of Fraser has held refinancing talks with Alteri Investors as fears grow over its financial condition. According to The Sunday Times, House of Fraser executives met with Alteri, an investor firm that specialises in turnarounds for struggling retailers, with the aim of securing around £40m of…
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23 March
‘Beast from the East’ drives online retail sales
UK online retail sales were up +13.1% year-on-year (YoY) in February, according to the latest figures from the IMRG Capgemini e-Retail Sales Index. A cold snap named the ‘Beast from the East’ hit the UK in the last week of February which Capgemini said meant shoppers make more online purchases,…
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23 March
Retail sales see first increase in two months
Retail sales increased by 0.8% in February this year compared with the previous month, with increases seen across all main sectors except non-food stores. The latest data from the Office for National Statistics (ONS) showed the first uptick after two monthly declines in December and January, resulting in an overall…
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23 March
Next admits 2017 was ‘the most challenging year’ as annual profits drop
Next has seen its annual profits drop by 8% after what the retailer described as its most challenging year for 25 years. The fashion retailer’s pre-tax profits dropped to £726.1m down from £790.2m, although this was in line with expectations. Next attributed the decline to “a weak clothing market” as…
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23 March
Toys R Us founder dies aged 94
The founder of Toys R Us, Charles Lazarus, has died aged 94, after a period of declining health. He founded the company and began selling toys 1957, after he returned from military service in the Second World War. The toy retail firm has issued the following statement: “There have been…
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22 March
Conviviality launches £125m fundraising bid to avert bankruptcy
Conviviality has announced it urgently needs to raise £125m to avert bankruptcy as it issued its third profit warning in a single month. In a statement the off-licence retail group confirmed that through its broker, Investec Bank, meetings with institutional investors have been arranged for the coming days to effect…
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22 March
PerfectHome to refund £2.1m to customers issued unaffordable loans
Rent-to-own firm PerfectHome has been ordered to refund a total of £2.1m to customers issued with loans they could not afford, in an agreement with the Financial Conduct Authority (FCA). The FCA identified that the firm’s affordability assessments did not adequately take into account customer circumstances. Additionally, the regulator said…
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22 March
Ted Baker sees retail sales increase by 10.4%
Fashion brand Ted Baker has reported a 10.4% increase in its retail sales in the 52 weeks ending 27 January 2018. The total increase in retail sales amounted to £442.5m, with UK and Europe up 7.7% (6.4% in constant currency) to £301.1m, US and Canada up 16.2% (12.4% in constant…
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22 March
New Look’s CVA to shut 60 stores with 980 jobs axed
Clothing and fashion retailer New Look is set to close 60 out of its total 593 stores, alongside a further six sites which are sub-let to third parties, following poor operational performance. The firm announced that a Company Voluntary Arrangement (CVA) launched on 7 March 2018 has been approved by…
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21 March
Moss Bros shares plummet amid profit warning
Moss Bros has seen its shares plummet as much as 30% as it warned its full year profits would come in below expectations – the second such warning this year. At the time of writing the company has seen its shares recover slightly at a 22% decrease. The suit retailer…
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