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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Nov- 2020 -30 November
Frasers Group offers £50m to Arcadia Group
Frasers Group has confirmed that it has offered Arcadia Group a rescue loan of up to £50m, amid news that Sir Philip Green’s empire is on the brink of collapse. The retail group may reportedly decline the offer, however, as a senior Arcadia Group source told the BBC: “If this…
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30 November
Arcadia collapses into administration
Arcadia Group has collapsed into administration, placing 13,000 jobs at risk. It comes as the retail empire, owned by Sir Phillip Green, failed to secure urgent funding needed to keep it afloat following the effects of the pandemic. Read Retail Sector’s analysis – ‘Arcadia: Where did it all go wrong?’…
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27 November
Arcadia ‘could collapse’ next week
Sir Phillp Green’s retail empire Arcadia is reportedly on the verge of collapse, placing around 15,000 jobs at risk. According to Sky News, the retail group, which owns Topshop, Dorothy Perkins and Burton, could be set to appoint administrators from as early as next week. An insider told Sky that…
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27 November
M&S reverses decision to open on Boxing Day
Marks and Spencer has announced that it will now close its stores on Boxing Day, having previously said it will keep 200 of its stores open. Following the Government’s announcement that restrictions will be temporarily relaxed for a five-day period from the 23-27 December, M&S added it it took the…
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27 November
Hammerson appoints new COO
Hammerson has announced the appointment of Grégoire Peureux to the newly created role of chief operating officer. Peureux will reportedly join the group executive committee and will focus on the “delivery of strategic initiatives” at a group level. He brings with him more than 17 years of experience in the…
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27 November
Amazon unveils £374m employee Christmas bonus scheme
Amazon has announced a new Christmas bonus for both full-time and part-time front-line employees. UK Operations employees who are employed by the company from 1 December to 31 December will qualify for a bonus of £300 for full-time employees and £150 for part-time employees. Dave Clark, the senior vice president…
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27 November
L Brands appoints new Victoria’s Secret leadership
L Brands has announced a series of new appointments to the leadership of its lingerie retailer, Victoria’s Secret. Martin Water was named the company’s new CEO, replacing John Mehas who had served in the role since February 2019. Waters is set to report to Stuart Burgdoerfer, interim CEO of Victoria’s…
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26 November
New Tier system announced
The Government has announced a new Tier system for when England leaves lockdown on 2 December, with only areas in Tier 1 allowed to revert back to the ‘rule of six’. Making the announcement to the House of Commons, health secretary Matt Hancock revealed that the new Tier 3 restrictions…
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26 November
Mulberry revenue falls 29% as lockdown hits sales
Mulberry has reported a 29% decline in revenue to £48.9m during the first half of the year, as the impact of the coronavirus pandemic impacted its sales. For the 26 weeks ending 26 September 2020, the retailer also revealed an adjusted loss before tax of £1.9m (2019: £10.1m) before adjusting…
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26 November
Boohoo appoints Leveson to oversee business practices
Boohoo has announced the launch of a new ‘Agenda for Change’ programme, in a bid to “deliver long-lasting and meaningful change” to its supply chain and its business practices. The group has appointed Sir Brian Leveson PC to provide independent oversight over the programme. Leveson will report directly to the…
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