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 -8 December
Studio exploring sale options as profits surge 52%
Studio Retail Group (SRG) has announced it is exploring sales options after seeing half-year profits increase 52% to £17.7m. For the 26-week period ending 25 September, Studio revealed that profits were boosted by a 17% increase in revenues to £268m up from £228.7m in 2019. It also revealed its active…
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8 December
Moncler acquires Stone Island
Luxury fashion brand Moncler has announced the acquisition of Italian brand Stone Island for an undisclosed sum. The transaction will see the two brands work together to strengthen their ability to “interpret the evolving cultural codes” of new generations, while reportedly reinforcing their positioning within the luxury segment. Moncler will…
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8 December
Consumer spending drops 2% in November
Consumer spending in the UK fell by 2.9% in November, despite spending on essential items growing 4.9% year-on-year, as ‘circuit breaker’ lockdown restrictions pushed the public to shop online. According to Barclaycard’s monthly consumer report, spending on essentials grew 4.9%, with a 17.9% rise in supermarket shopping, while online grocery…
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8 December
Joules sales hit by lockdown
Joules has announced that group revenue was down by 15.3% to £94.5m in the 26-week period ended 29 November 2020. According to the group, this reflected the impact of enforced store closures as well as the cancellation of country shows across the UK, alongside the fact that total store trading…
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7 December
Kingfisher set to return business rates relief funds
Kingfisher has announced it intends on returning the full amount of business rates relief received to the UK and ROI as a result of the Covid-19 crisis. Kingfisher said its “total annual business rates bill” eligible for this relief is approximately £130m, of which £110m falls in FY 20/21 and…
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7 December
The Hut Group ups revenue guidance for second time this year
The Hut Group has upped its revenue guidance for the second time since its listing earlier this year, with it now expecting revenue to increase up to 40% YOY. In its latest trading update, the group said it has seen new customer acquisition trends “further accelerate” into Q4 across all…
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7 December
Ted Baker losses widen as sales fall 42%
Ted Baker has announced that its losses have continued to widen, with underlying loss-before-tax amounting to around £39m, primarily driven by lower revenue levels, and partially offset by our cost actions. In the 28 week period ended 8 August, group revenue was also down by 45.9% against the prior year. …
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7 December
Frasers Group in Debenhams takeover talks
Mike Ashley’s Frasers Group has entered discussions involving a possible takeover of Debenhams, the group confirmed today. It comes as Debenhams collapsed into administration last week, placing 12,000 jobs at risk, after talks with JD Sports over a potential rescue deal failed. The department store chain will continue to trade…
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4 December
Co-op members urge company to return rates relief
The Co-op Group is reportedly being urged by its members to reverse its decision not to repay the millions of pounds it has received in rates relief this year. According to Sky News, some of its National Members Council believe that due to the £150m it has generated from the…
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4 December
Primark posts £430m sales hit amid second lockdown
Primark was hit with a £430m sales loss following international lockdowns this autumn, according to Associated British Foods (ABF). Primark stores in the group’s major markets, including England, the Republic of Ireland, France and Belgium reopened in the last week, however, with ABF noting that sales have been “very strong”…
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