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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Dec- 2020 -15 December
Foot Locker appoints senior VP and CIO
Foot Locker has announced the appointment of Himanshu Parikh as senior VP and chief information officer, with immediate effect. In his new role, Parikh will oversee the execution of the group’s strategic technology agenda, as well as support the company’s “key” strategic imperatives and future capability-building and innovation. He will…
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15 December
Asda paid Walmart £1.1bn dividend before sale, accounts reveal
Asda paid an intercompany cash dividend of £1.15bn to former parent company Walmart in March this year, despite profits being dented by the onset of the pandemic, according to recently published company accounts. The payout came only months before the American retail giant sold the business to billionaire Issa Brothers…
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15 December
JD Sports acquires Shoe Palace
JD Sports has announced the acquisition of US-based Shoe Palace, purchasing 100% of both the issued shares in the Shoe Palace Corporation and the members’ interests in Nice Kicks LLC. The total cash consideration for the acquisition is $325m ($244m), which is subject to regulatory approval. Based in California, Shoe…
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15 December
H&M sales slump in final quarter
H&M has announced that net sales fell by 10% in the quarter ended 30 November 2020, following the impact of store closures and ongoing Covid-19 restrictions around the world. In its latest trading update, the group noted that overall sales have fallen by 18% in its full-year of trading, despite…
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14 December
Tesco appoints Karen Whitworth to board
Tesco has announced that Karen Whitworth will be joining its board as a non-executive director. The appointment will take effect from 18 June 2021, with Whitworth also being appointed as a member of the audit committee and corporate responsibility committee. Whitworth is currently a non-executive director of Pets at Home,…
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14 December
French Connection secures $6.5m in additional funding
French Connection has announced it has secured $6.5m (£4.9m) in additional funding, as part of its latest trading update. The UK fashion retailer said it secured the funding through the Main Street Lending Programme to support its US-based operations and staff. The loan will be for a period of five…
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14 December
US group eyes Arcadia and Debenhams takeover
Authentic Brands, the US owner of New York department store brand Barneys, is reportedly eyeing a double takeover of Debenhams and Arcadia Group, according to the Telegraph. The retail group has reportedly entered discussions with the administrators of both businesses, placing chairman Jamie Salter in “direct competition” with Mike Ashley,…
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14 December
No need to panic buy before Brexit, says BRC
The British Retail Consortium (BRC) has urged members of the public to refrain from stockpiling food before Britain leaves the EU on 1 January. The plea comes after the UK and EU confirmed on Sunday (13 December) that the deadline for reaching a deal on post Brexit would be extended. …
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11 December
Sainsbury’s creates 12,000 seasonal jobs
Sainsbury’s has announced its created 12,000 seasonal roles and increased its digital offer to help cope with the peak Christmas season. The supermarket also announced the increase in holiday rates pay to £9.30 per hour, the reportedly highest rate of pay of the major supermarkets. Colleagues working in Greater London…
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11 December
Administrators place £200m price tag on Topshop
Administrators for Arcadia are reportedly seeking a price tag of £200m for the firm’s Topshop brand and are looking to agree a deal before Christmas. According to The Guardian, administrators Deloitte are expecting to receive initial bids for the brand by the end of next week (18 December). Online retailer…
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