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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Feb- 2021 -24 February
British Land appoints new non-executive director
The British Land Company has announced the appointment of Loraine Woodhouse as a non-executive director, with effect from 1 March 2021. Woodhouse will chair the audit committee from 31 March 2021 at which time her predecessor Preben Prebensen will step down from his role as interim chair of audit but…
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24 February
Home Bargains 2020 turnover soars to £2.8bn
TJ Morris, the owner of discount retailer Home Bargains, has reported an annual turnover of £2.8bn for the year ended 30 June 2020. The revenue represents a 13% year-on-year increase as the group’s turnover climbed £321m from its 2019 level. Operating profits also increased by the same margin for the…
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23 February
GMB slams Arcadia collapse scandal
GMB has criticised the “scandal” regarding the collapse of retail group Arcadia, revealing that the taxpayer will have to pay out the redundancy packages of sacked employees. The union also took aim at administrators Deloitte for “making millions” for their services during the sale of Phillip Green’s former retail empire.…
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23 February
Footfall rises for fifth consecutive week
Footfall across UK retail destinations rose by 6.8% last week against the week before, marking the fifth consecutive week of uplift ahead of the PM’s highly anticipated ‘roadmap’ announcement yesterday. According to the latest data from Springboard, this was only a fifth less than the rise of 8.5% in the…
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23 February
Frasers warns of £100m lockdown hit
Mike Ashley’s Frasers Group has announced it currently expects to take a hit in excess of £100m due to the impact of Covid-19 lockdown restrictions on non-essential retailers. The announcement comes in response to the prime minister’s reopening roadmap unveiled yesterday (22 February) that sees non-essential retailers such as the…
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23 February
Asda owners consider George spin-off
Asda’s new owners are reportedly considering spinning off George, the fashion label developed by George Davies, in an attempt to cut costs. Industry sources told the Times that the Issa brothers and TDR Capital believe the brand is outside of their area of expertise. While selling the brand outright could…
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23 February
Moncler EBIT falls 25% in FY20
Moncler has announced its EBIT fell by 25% to €368.8m (£318m) for the financial year ended 31 December 2020, down from €491.8m (£424m) the prior year. The retailer also saw an 11% decline for its consolidated revenues to €1.4bn (£1.2bn), down from €1.62bn (£1.39bn) the previous year. Net income dropped…
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23 February
Gov should ‘remain flexible’ when lifting retail ban, says BRC
The British Retail Consortium (BRC) has said the government should “remain flexible” and allow non-essential retailers to reopen as soon as the data suggests it is safe to do so. The statement comes in response to Boris Johnson’s roadmap’ out of lockdown, where the PM said it is possible that…
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23 February
Clarks CEO steps down amid C-suite shake-up
Giorgio Presca has reportedly stepped down from his role as CEO of Clarks, according to Drapers. Presca, along with the shoe retailer’s chief commercial officer, Massimo Barzaghi and chief people officer, Difna Blamey, are said to have exited the business last week. Victor Herrero, the retailer’s non-executive director, will reportedly…
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22 February
PM outlines ‘roadmap’ out of lockdown
Prime minister Boris Johnson has set out his four-step “roadmap” to guide the nation out of lockdown “cautiously but irreversibly”, calling the plan a “one-way road to freedom”. Step one will begin from 8 March, when all schools will be allowed to open with outdoor after-school sports and activities allowed.…
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