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 -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,…
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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…
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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…
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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…
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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…
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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…
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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…
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9 March
New CFO appointed by Walgreens Boots Alliance
Walgreens Boots Alliance has announced the appointment of James Kehoe as the company’s executive vice president and global chief financial officer, effective 1 June 2018. Kehoe’s previous role was chief financial officer and board director of Takeda Pharmaceutical Company and was based in Tokyo. According to the group he is…
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9 March
Countrywide farmers enters administration putting 735 jobs at risk
A buyer is being sought for retailer Countrywide Farmers, which has gone into administration putting 735 jobs at risk. The Worcestershire based supplier of agricultural goods, which employs more than 700 people and has 48 stores, has appointed administrators from KPMG to handle the sale of the business. According to…
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8 March
Next faces £30m equal pay claim
Law firm Pattinson & Brewer has initiated legal proceedings against clothing chain Next, on behalf of female store workers who it alleges receive less pay than men in comparable roles. The group’s equal pay action will argue that thousands of Next store staff are owed compensation because of unequal pay…
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