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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Jan- 2021 -29 January
Card Factory to receive one month covenant breaches waiver
Card Factory has been issued a one month extension to covenant breaches by banks until 28 February 2021. Earlier this month, the firm warned it was going to breach its banking covenants by the end of January, although it had access to £200m of debt facilities. The group stated it…
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29 January
Boohoo confirms exclusive Arcadia talks
Just days after Boohoo confirmed the acquisition of Debenhams, the online retailer has announced it is in exclusive talks with Arcadia to purchase three of the collapsed group’s brands. In a short statement Boohoo said it was exclusive discussions with the administrators of Arcadia over the acquisition of the Dorothy…
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29 January
Screwfix reaches £2bn in yearly sales
Omnichannel retailer Screwfix has surpassed £2bn in sales for the year to January 2021, creating thousands of new jobs in the process. The firm has also managed to open 30 new stores in the period, bringing its UK and Ireland portfolio to 725. The sales milestone represents a doubling in…
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29 January
Thomas Pink returns to online market despite LVMH sales float
Thomas Pink has announced it is returning to trade, albeit online, after shutting down its website and social media channels last year. In 2020, the fashion retailer closed its Jermyn Street store in London and was removed from LVMH’s ‘Fashion and Leather Goods’ webpage, which is home to the group’s…
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28 January
Lidl swings to £13.6m after tax loss
Lidl has reported losses after tax of £13.6m for the year ending in February 2020, following the group’s heavy investment into growing its workforce and store estate. It comes as the discount retailer reported revenues of £6.9bn as it attracted a new found customer base. Nonetheless, the slump comes as…
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28 January
January brings -50% sales slump
Retailers in January witnessed the weakest sales month since May 2020, with sales down -50% from the previous month. According to the Confederation of British Industry (CBI), the decline follows what has been a “broadly stable” sales period in December, as Covid restrictions briefly eased. In January it was also…
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28 January
Debenhams CEO to step down
Steven Cook is reportedly stepping down from his position as CEO of Debehmans, according to Drapers. Cook joined Debenhams in 2017 as managing director, overseeing the division’s buying, design and merchandising for fashion and home. In an internal message sent to staff, and seen by Drapers, Hazell said: “Steven Cook…
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28 January
Retail venture snaps up Knomo
Inc Retail Group, a newly formed arm of the Manchester-based digital brand company Inc and Co, has acquired the bags and accessories retailer Knomo. The transaction represents Inc’s debut into the retail sector, and marks the beginning of a three-year “growth and development plan”. The expansion plans will be led…
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28 January
Hugo Boss appoints new chief sales officer
Hugo Boss has announced the appointment of Oliver Timm as chief sales officer. In his role, he will be responsible for delivering a “premium shopping experience” for the retail group customers across all consumer touch-points − from retail and wholesale to e-commerce. Among Timm’s top priorities will be the implementation…
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28 January
ScS reports sales rise in half-year results
ScS has reported a sharp rise in sales in its half-year results due to benefitting from an impressive order intake during the summer, as well as a strong first quarter trading. The sofa retailer posted a gross sales increase of 13.9% to £182.3m in the 26 weeks to 23 January.…
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