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 -11 January
JD Sports raises profit forecast to £400m
JD Sports has announced that its headline profit-before-tax for the full year to 30 January 2021 will be “significantly ahead” of the current market expectation of £295m to at least £400m for the full year. The news follows the fashion retailers Christmas trading update which showed that total revenues, on…
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11 January
Studio profits rise amid ‘strong’ Q3 trading
Online retailer Studio has welcomed “record” levels of trading during its third quarter ended 25 December 2020, with product sales up 32% against the prior year. In light of continued strong trading trends, its unaudited pre-tax profit for the 39 weeks to the end of December 2020 was around £16m…
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11 January
URW announces board expansion and COO appointment
Unibail-Rodamco-Westfield (URW) has announced the extension of its management board, which is effective from 8 January. In its latest management shake-up, the shopping centre owner appointed Olivier Bossard, the group’s chief investment officer and Astrid Panosyan, URW’s chief resources officer, to the management board. URW states the extended board will…
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8 January
Covid restrictions lead to first negative LFL sales in December
Despite a strong start to the month, retailers recorded a disappointing end to the Golden Quarter thanks to heightened Covid restrictions and expanding lockdowns, new figures by accountancy and business advisory firm BDO LLP reveal. According to BDO’s High Street Sales Tracker (HSST), total like-for-like (LFL) sales, combined in-store and…
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8 January
Asos invests in new fulfilment centre
Asos has announced it will launch a new fulfilment centre which has the capacity to employ 2,000 people over the next three years. According to Sky News, the new centre, which is based in Staffordshire, will be backed by a £90m investment from the retailer. The news falls after the…
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8 January
Matchesfashion hit by £5.9m loss
Luxury retailer, Matchesfashion has announced a major loss of £5.9m for the financial year ended 31 January 2020. A report filed at Companies House found that while revenue soared to over £430m for the period, compared to £372m the previous year, the cost of sales, administrations, and distribution outweighed the…
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8 January
Pets at Home raises guidance following sales boost
Pets at Home has raised its full-year guidance following a period of “accelerated momentum” in its third quarter of trading. Based on its current year-to-date trading, as well as assuming no change to its “essential retailer” designation, it now anticipates full-year pre-tax profit to be ahead of its previous guidance,…
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8 January
M&S sees clothing sales slip during festive period
Sales at Marks and Spencer’s retail and home department fell by 25.1% over the holiday period. In a post-Christmas trading update the company described its performance as “robust in the face of volatile Covid headwinds”, with total revenue from the second UK lockdown falling by 40.5%. While sales in M&S’s…
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8 January
Boots’ parent company reports strong Q1 trading
Walgreen Boots, the parent company of Boots, has reported its first quarter trading has exceeded expectations after it was buoyed by the UK pharmacy and optician business. The US-based firm announced that sales increased by 5.7% to $36.3bn (£26.7bn) over the three month period, while earnings decreased by 11.2%, ahead…
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7 January
Wolverine World Wide appoints president of global operations group
Wolverine World Wide has announced the appointment of Jim Zwiers as president of the global operations group, succeeding Mike Jeppeson. Founded in 1883, Wolverine World Wide has been a provider of branded, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel around the world. Zwiers will concurrently…
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