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 -19 February
Retail sales tumble 8.2% in January despite online boom
Retail sales tumbled by 8.2% in January despite rising online sales, as stores were hit by heightened restrictions amid the third national lockdown. According to the Office for National Statistics (ONS), the value of sales was also 7.8% lower than the previous month, while the overall decline was largely driven…
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19 February
Arcadia owed creditors £800m upon collapse
Arcadia, the owner of Topshop, Dorothy Perkins, and Miss Selfridge, reportedly owed £800m to its creditors upon its collapse in November. According to documents seen by the Guardian, the group’s debts were propped up by a pension deficit of £510m when Big Four accountancy firm Deloitte were called in to…
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19 February
H&M issues £433m sustainability-linked bond
H&M has issued a €500m (£433m) sustainability-linked bond with a maturity of 8.5 years which will aim at providing incentives for the company to meet eco-friendly targets by 2025. The annual coupon rate of 0.25% with the bond has already generated “great interest” and was 7.6 times oversubscribed, according to…
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19 February
Asda reports sales boost thanks to strong Christmas performance
Asda has reported a solid sales boost in the fourth quarter ended 31 December, with like-for-like sales, excluding fuel, up 5.1% over the Christmas season and 6.9% during the eight week period. Growth was primarily driven by a noticeable shift in consumer behaviour with customers trading up and spending more…
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18 February
Topshop collapse hits creditors with £176m loss
Topshop and Topman creditors are reportedly facing losses of £176m since the demise of Sir Phillip Green’s Arcadia, according to The Telegraph. Suppliers from countries such as China and Turkey have been hit the hardest financially as the fashion empire gets wound up. In total, creditors are owed £219m but…
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18 February
John Lewis signs up to HRH Terra Carta initiative
John Lewis has announced it has become the first retailer to sign-up to HRH The Prince of Wales’ Terra Carta, which forms part of HRH’s Sustainable Markets Initiative. Launched by HRH on 11 January 2021, the Terra Carta lists 10 action articles for the decade and aims to provide an…
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18 February
Iceland sacks director over offensive comments about Wales
Iceland has sacked its director of corporate affairs, Keith Hann, after he made a series of offensive comments about Wales. Hann who joined the supermarket in 2017 was fired from his position after he stated on Twitter: “Your periodic reminder that the inhabitants of the UK’s Celtic fringe loath all…
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18 February
850 retail jobs lost a day so far in 2021
New research has found that 850 retail jobs have been lost every working day so far in 2021, with experts warning that this could be just the “tip of the iceberg”. Analysis from The Centre for Retail Research has revealed that administrations by large multiple retailers, those with 10 or…
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18 February
Charity retailers’ progress stunted by lockdown restrictions
Despite an encouraging start to the period, lockdown restrictions have “taken their toll” on the performance of charity retailers in the fourth quarter of 2020, with the outlook for 2021 remaining “very uncertain”, according to accountancy firm BDO. According to BDO’s Charity Retail Sales Tracker, produced in association with the…
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18 February
Moonpig expects FY revenues to double amid Valentine’s boost
Moonpig has announced it expects revenues for the financial year ending 30 April 2021 to approximately double to £173m. The online retailer said it saw a “significant increase” in demand during the first half of the year, which has continued through Q3 with it recording its “strongest ever” trading week…
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