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 -9 February
Consumer spending sees ‘sharpest’ fall at 16.3% in January
Consumer spending fell 16.3% in January, the “sharpest” decline since May 2020 which was attributed to the current lockdown restrictions and Covid-19 pandemic. The data was gathered from the Barclaycard report which combines hundreds of millions of customer transactions with consumer research to provide an in-depth view of UK spending.…
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9 February
Notonthehighstreet acquired by US investment firm
Notonthehighstreet has been acquired by Great Hill Partners, an American investment firm. The online gift retailer was founded in 2006 by Holly Tucker and Sophie Cornish, employs more than 150 and manages a marketplace of more than 5,000 small businesses selling more than 250,000 products. The business has seen a…
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9 February
January retail sales slump to lowest level since May 2020
January saw retail sales growth decline to its lowest level since May of last year, figures by the BRC and KPMG show. According to the pair’s sales monitor, total retail sales dropped by 1.3% in January compared to 0.4% in January 2020 as national lockdown measures continue to disrupt trading. …
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8 February
Three in 10 SMEs could be forced to shut if lockdown is extended
At least three in 10 (30%) SMEs will be forced to close for good by the end of the year if the current lockdown is extended until the end of March, according to the latest research from Nucleus Commercial Finance. The firm said this equates to just under 1.8 million…
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8 February
Kurt Geiger reports pre-pandemic growth
Luxury footwear and accessories retailer Kurt Geiger has reported pre-pandemic growth to both its revenues and profits. Accounts filed at Companies House revealed that the group’s turnover rose to £347m for the year ended 1 February 2020, a year-on-year increase of 3.7%. Operating profit for the period also grew from…
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8 February
Retail sales fall 10% in January
Total like-for-like retail sales declined by 10% in January as both the national lockdown and impact of Covid-19 affected shops across England, according to BDO’s High Street Sales Tracker. It found that lifestyle total like-for-like sales fell to 16.7% in January. This month’s result reportedly marked “the worst” since June…
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8 February
Boohoo snaps up remaining Arcadia brands
Boohoo has confirmed that it has acquired the remaining brands from fallen retail empire Arcadia, in a move that will see the Burton, Dorothy Perkins and Wallis brands added to the online retailer’s portfolio. Following a £25.2m transaction, the group will acquire all of the e-commerce and digital assets of…
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8 February
Amazon’s tax to turnover ratio dropped to 0.37% in 2020
Amazon saw its tax to turnover ratio fall to 0.37% last year, despite sales rising by more than 51% in the UK. In comparison, the Centre for Retail Research reported bricks-and-mortar retailers paid around 2.3% of annual retail sales overall in business rates. The online retailer’s sales for 2020, ending…
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8 February
Sunak mulls ‘Amazon Tax’ to help with UK debts
Chancellor Rishi Sunak is allegedly considering a double tax raid on online retailers such as Amazon who profited during the pandemic. According to The Sunday Times, leaked emails show that Treasury officials have already called for tech firms and retailers to meet this month ahead of the March budget to…
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5 February
ManoMano doubles sales volume to over £1bn
ManoMano, an online DIY marketplace, saw its global business volume climb to £1.05bn last year, with its UK sales tripling to £105m. As a result of the spike in company-wide revenues, which more than doubled, the group is targeting an expansion strategy across Northern Europe. According to Christian Raisson, co-founder…
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