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.
-
Feb- 2021 -25 February
Retail set for 50% April increase to footfall
UK retail destinations are expected to see footfall rise by 47.9% upon the reopening of non-essential retail and outdoor hospitality in April. According to the retail analyst Springboard, footfall from the 12 April will be 128.5% higher than it was for the same week in 2020. High streets and shopping…
Read More » -
25 February
Ikea UK hit with £33m loss amid pandemic
Ikea UK has announced that total sales fell by £200m to £1.9bn in its full-year ended 31 August 2020, down from sales of £2.12bn reported in FY19. While the furniture giant decreased its costs by 3.4% to help shore up its finances, it still reported an overall loss impact of…
Read More » -
25 February
Primark forecasts £1.1bn sales hit
The owner of Primark is expecting to lose £1.1bn in sales during the first half of its financial year due to the ongoing coronavirus restrictions which prohibit stores to trade. Associated British Foods (ABF) told investors that as a “consequence of the restrictions” placed on Primark it expects sales and…
Read More » -
25 February
N Brown Group chairman to step down
N Brown Group has announced that Matt Davies will step down as chairman with effect from 31 March 2021 to spend more time on his other business activities. The board said it would like to thank Davies for his contribution over the past three years and for guiding the business…
Read More » -
25 February
Amazon tops annual list of global retailers with $1.63tn market cap
Amazon has topped the list of the top 25 global retailers with a £1.15bn ($1.63tn) market cap for the year ending 31 January 2020, according to data from TradingPlatforms.com. The online retailer has benefitted from the Covid-19 pandemic as consumers have shifted to buying products and services online. E-commerce site…
Read More » -
24 February
Puma reports 9.1% sales rise in Q4
Puma has reported a 9.1% sales increase in its financial results for the fourth quarter of 2020. The bulk of the sales rise primarily came from the Asia/Pacific market which was less affected by Covid-19 restrictions over the period compared to the rest of the world. Sales rose by 9.8%…
Read More » -
24 February
Angling Direct sees revenue soar by 27%
Fishing tackle and equipment retailer Angling Direct is expecting to report a 27% increase in revenue to £67.6m for the financial year which ended 31 January, ahead of announcing its final results on 11 May 2021. In a trading update, the retailer reported a strong performance from its online store…
Read More » -
24 February
Chancellor expected to extend furlough until May
Chancellor Rishi Sunak is expected to announce a further extension to the government’s furlough scheme until May in his Budget speech next week. According to The Times, the move is expected after Boris Johnson promised not to “pull the rug out” from businesses when restrictions eventually begin to ease under…
Read More » -
24 February
Scotland to reopen non-essential retail from 26 April
First minister Nicola Sturgeon has announced that non-essential retailers in Scotland will be able to reopen from 26 April. Sturgeon outlined the country’s exit out of lockdown restrictions yesterday (23 February), giving businesses a timeframe of when they can expect to reopen. Scotland’s stay-at-home order is likely to remain in…
Read More » -
24 February
Gap battles landlords in bid to shutter stores
Gap is reportedly battling its landlords ahead of plans to “hand back the keys” to all its UK stores this July, according to the Times. The group first announced it was considering the possible closures of company-operated stores in the UK, France, Ireland and Italy at the end of Q2…
Read More »
