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 -22 January
EG Group appoints Lord Stuart Rose as chair
The Issa Brothers’ EG Group has announced the appointment of Lord Stuart Rose as non-executive chairman with immediate effect. Lord Rose is currently chairman of Ocado plc, a post from which he will retire in May after more than eight years as chair. He previously served as chief executive and…
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22 January
Selfridges endures ‘most difficult year’ thanks to 2019 performance
Selfridges has endured the “most difficult year” in its 113-year history, but was able to weather the storm. The chain of luxury department stores was reportedly kept afloat through growing sales in 2019 and investing in e-commerce. Anne Pitcher, managing director at the group, confirmed to the Times that the…
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22 January
Retail sales fall to lowest ever annual level
The retail sector has suffered its largest annual fall since records began, with total sales down 1.9% against the year prior, as restrictions on non-essential retail continued to impact the sector as a whole. This was the biggest decline since records began in 1997, according to the ONS. After declines…
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22 January
Next pulls out of Arcadia race
Next has allegedly withdrawn from the race to acquire Arcadia Group, after the store was unable to meet the price tag for Topshop and Topman. According to The Times, Topshop, which is one of Acardia’s most coveted brands, was said to be valued between £250m and £300m – a sum…
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22 January
John Lewis repays £300m to the Treasury early
John Lewis has announced it has repaid £300m early to the Treasury and the Bank of England Covid Corporate Financing Facility, which was due for repayment on 15 March 2021. The retailer was hit heavily by the impact of Covid-19 and store closures for several months, however the Partnership believes…
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22 January
The Works reports revenue decline of 7.8%
The Works has reported a revenue decline of 7.8% to £88.9m in the 26 weeks to 25 October. The stationery and book retailer posted a pre-tax loss of £4.3m over the period, which was down from a loss of £8.5m in the same period the previous year. Trading was impacted…
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21 January
WH Smith postpones CEO’s £25k pay rise
WH Smith has revealed it has postponed its planned £25,000 pay rise for its CEO Carl Cowling, after 33% of its shareholders voted against the move. In an update posting the results of its AGM, it revealed that despite the move to approve the Directors’ Remuneration Report being passed, it…
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21 January
Primark appoints new corporate affairs director
Primark has announced the appointment of Alice Macandrew to the newly-created position of corporate affairs director with immediate effect. Macandrew joins Primark with the remit to develop a global corporate affairs team and strategy that will build and protect long-term value in Primark. Working closely with the group’s leadership team…
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21 January
Burberry revenue drops 4% in Q3
Burberry has announced that retail revenue for 13 weeks ended 26 December dropped 4% to £688m from £719m for the same period last year, attributed to the continued impact of Covid-19. Covid-19 related store closures averaged 7% in Q3 impacting trading on a whole for the retail group. Comparable store…
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21 January
Eve Sleep exceeds expectations in 2020
Eve Sleep has announced that full-year trading has exceeded expectations, with total revenue up by 6% to £25.5m, boosted by 18% growth in its second half of trading. It comes as the retailer said it has “exited 2020 in far better shape than it entered the year”, having developed a…
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