News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
-
Jul- 2020 -22 July
Kingfisher sales boosted by e-commerce
Kingfisher has announced that like-for-like sales soared by 21.6% in the quarter ended 18 July, as it continued to experience “strong demand” across its markets. The B&Q and Screwfix owner said these results reflected “strong” e-commerce growth in the period, as well as a boost from the phased reopening of…
Read More » -
21 July
Ted Baker revenues slump 55%
Fashion retailer Ted Baker has seen its group revenues slump by 55% to £60.9m during the 11 week period ended 18 July. Further to this, store revenue also decreased 79% to £15.8m, with sales performance impacted by store closures globally. Additionally, like-for-like store sales were down 52% compared with the…
Read More » -
21 July
Antler’s online business sold
Luxury luggage brand, Antler, has confirmed its brand, online retail business and assets have been sold to an ATR group company after KPMG was drafted in to restructure the business. Antler, founded in Bury, Lancashire in 1914, had traded across a number of retail outlets and various online channels prior…
Read More » -
21 July
Co-op outlines plans on face coverings
Central England Co-op has outlined plans for its staff to begin to wear face coverings early to promote their use ahead of them becoming compulsory for customers on Friday (24 July). Central England Co-op, which has over 400 food stores and funeral homes across 16 counties, is asking customers to…
Read More » -
21 July
Jigsaw mulls potential sale
Jigsaw has reportedly drafted in advisors to lead a strategic review of the fashion chain, which could see the business change hands in a potential sale. According to Sky News, the retailer’s board will work alongside two firms of advisers to oversee rent negotiations with landlords and seek out prospective…
Read More » -
20 July
M&S to cut 950 jobs
Marks and Spencer (M&S) has announced it will cut 950 jobs in a bid to restructure its business in the wake of the Covid-19 crisis. The high street retailer announced it plans to “accelerate the pace and scale” in a statement released today (20 July), adding that it aimed to…
Read More » -
20 July
Ted Baker set to axe 500 jobs
Fashion retailer Ted Baker is reportedly set to axe almost 500 head office and retail jobs. According to the Sunday Times, some 200 jobs will be cut at its London headquarters, the Ugly Brown Building, with the remaining 300 roles being slashed across its 46 stores and concessions. The move…
Read More » -
20 July
Harvey Nichols warns staff of redundancies
Harvey Nichols has reportedly warned staff they may be facing a slew of redundancies in the wake of coronavirus. According to the Times, chief executive Manju Malhotra warned “there may be staff redundancies at all locations” in an email sent to 1,500 staff, adding that the crisis would “change the…
Read More » -
20 July
UK retailers call for ‘urgent action’ to end labour exploitation
A number of fashion retailers including Asos, Missguided, River Island and M&S have called on the Home Secretary, Priti Patel, to take “urgent action” to address exploitation in the UK’s fashion supply chain. Retailers including George at Asda, Joules, Matalan, Morrisons, Mountain Warehouse, N Brown, Next and The Very Group,…
Read More » -
20 July
‘Hundreds’ of jobs to be axed at M&S
Marks and Spencer is expected to announce a raft of job cuts this week, becoming the latest high street casualty in the wake of Covid-19. According to Sky News, the retailer will unveil its widespread redundancy plan “within days”, with hundreds of jobs expected to be axed. It comes as…
Read More »