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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Aug- 2024 -12 August
The Floor Room falls into administration, 201 jobs lost
The Floor Room, a sister company of Carpetright, has fallen into administration, causing a total of 201 redundancies across its operations. Administrators at PwC were brought in last Friday (9 August) and closed the retailer’s 34 John Lewis concessions, one stand-alone store in London, and its online operation “with immediate…
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12 August
Salt & Stone secures ‘significant’ investment from Humble Growth
Salt and Stone, the US-based body care brand, has announced it has secured a “significant investment” from investment firm Humble Growth. Founded in 2017 by former pro snowboarder Nima Jalali, Salt and Stone claims to sell one product every seven seconds and has profitably achieved consistent triple-digit year-over-year revenue growth.…
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12 August
Sainsbury’s urges gov to reform business rates
Sainsbury’s and USDAW have together called on the new government to deliver on its promise to reform business rates.The call follows research which “demonstrates that failure to act could lead to 17,300 retail closures over the next ten years”. The research, carried out by Development Economics, warned that an increase…
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12 August
Pret hands out body cams to staff amid rise in retail crime
Pret A Manger has dished out body cameras to its staff amid a surge in shoplifting cases and attacks on retail workers in the wake of the pandemic, according to the Telegraph. The coffee shop chain has reportedly launched a trial of the body-worn cameras in six of its London…
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12 August
Asda chair ‘embarrassed’ by recent performance
Asda chair Lord Rose has stated that he is “embarrassed” by the supermarket’s performance and indicated it could be time for co-owner Mohsin Issa to step back his involvement. Last week, the supermarket saw its like-for-like sales drop 5.3% in Q2 while its market share fell to 12.7%, it was…
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9 August
Today’s news in brief-9/8/24
Recent riots and protests across UK towns have significantly deterred shoppers, leading to a 4.8% decrease in footfall across high streets and retail destinations. Regional cities like North Yorkshire and the West Midlands were hardest hit, experiencing declines as steep as 12.9%. The Retail Trust has reported an increase in…
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9 August
CMO sales fall by 17% in H1 amid poor weather
CMO has seen H1 sales fall by 17% to £30.3m, down from £36.9m the prior year, after first quarter sales were hit by poor weather during the period.Over the half-year period, Building sales fell by 13%, while Plumbing was down by 12.4%. Its Tiles business was the most impacted, however,…
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9 August
Riots deter shoppers as footfall falls 4.8%
UK high streets appear to be feeling the full force of ongoing disorder over the past week with footfall declining by an average of -4.8% week on week from Sunday (4 August) to Wednesday (7 August) compared with an average decline of -2.7% in all UK retail destinations. The latest…
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9 August
Under Armour swings to $300m loss amid decline in revenues
Under Armour has reported an operating loss of $300m (£235.0m) for the three months ended 30 June 2024, as its sales dropped across all regions and categories. The group saw its revenues decline 10% to $1.2bn (£940m). In North America revenue decreased 14% to $709m (£555.5m), and international revenue decreased…
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9 August
Asda revenues fall 2.2% in Q2
Asda has revealed that its total revenues fell 2.2% excluding fuel, to £5.3bn for the three months ended 30 June 2024 with like-for-like sales 5.3% lower. Despite this, Asda delivered total revenue growth, excl. fuel, of 2% in H1, with a 2.1% decline in LFL sales. The supermarket also increased…
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