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 -18 November
Hut Group appoints non-executive director
The Hut Group (THG) has appointed Damian Sanders as its independent non-executive director. Sanders, who until recently was a senior audit partner at Deloitte, is set to join the group’s board and take up the position of chair of the Remuneration committee with immediate effect. Last October, Sanders was appointed…
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18 November
Asda gears up for ‘record Christmas’ as Q3 sales rise 2.7%
Asda has revealed it is gearing up for a “record Christmas” after it revealed its like-for-like sales increased by 2.7% YOY. The trading quarter for the three months ending 30 September, which coincided with the end of the first UK-wide lockdown and the re-opening of the hospitality sector, saw growth…
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18 November
Halfords profits double in ‘very strong’ H1
Halfords has welcomed a “very strong” half-year of trading, with pre-tax profit soaring 116.2% to £56m in the half-year ended 2 October. The group also reported group revenue growth of 9.6%, and despite the ongoing pandemic, all its product areas and businesses returned to growth towards the end of the…
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17 November
The Hut Group CEO to receive £830m shares payout
The Hut Group (THG) CEO Matthew Moulding is set to receive an £830m shares payout after the company’s share price increased significantly triggering a bonus clause. According to The Guardian, Moulding will receive the payout after the “market value of the company’s shares breached certain levels” that were set during…
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17 November
Lockdown footfall ‘more resilient’ than in March
Footfall across UK retail destinations showed signs of resilience when compared with the first national lockdown last week, with footfall 57.7% lower than the same week in 2019, according to the latest figures from Springboard. Springboard said this is “demonstrably more resilient” than it was in the first complete week…
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17 November
Consumer confidence falls with Covid restrictions
Consumer confidence in the UK has dropped significantly with the introduction of further pandemic restrictions, according to new data from PwC. Recent measures to combat the spread of Covid-19 have seen consumer sentiment fall from -1 in to -10 in October. This is the sharpest decline since the initial lockdown…
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17 November
Boohoo appoints chair of audit committee
Boohoo has announced the appointment of Shaun McCabe to its board as an independent non-executive director, where he will assume the role of chair of the audit committee. Following his appointment, which takes place with immediate effect, he will also sit on the group’s remuneration and nomination committees. McCabe brings…
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16 November
JD Sports enters race for Debenhams
JD Sports has reportedly entered the race to acquire embattled department store Debenhams, and has been granted access to Debenhams’ finances in a secure data room. According to The Telegraph, JD Sports has emerged as a potential contender after being given access to Debenhams’ finances within the last fortnight. One…
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16 November
Arcadia Group enters ‘urgent’ borrowing talks
Arcadia Group, the parent company of Topshop, has reportedly entered “urgent” borrowing talks in a bid to secure funding and “aid its survival prospects”. According to Sky News, the group, owned by Sir Philip Green, has sought several potential lenders in its efforts to borrow around £30m to support the…
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16 November
76% of retail staff experiencing higher levels of abuse, Usdaw finds
Usdaw has announced that three quarters of retail staff have experienced high levels of abuse and said it “has been worse during the pandemic”. The retail trade union acquired the statistics from over 2,000 retail staff in its annual survey. The interim results for this year showed that 76% of…
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