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 -6 November
October retail recovery reverses with new lockdown
Despite UK retailers seeing an economic recovery in October, a second national lockdown in England risks reversing the sector’s financial progress. According to BDO, with non-essential retail back on lockdown from yesterday (5 November) until the beginning of December, the “most critical season of the year is now under threat…
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5 November
Chancellor extends furlough scheme to March
Chancellor Rishi Sunak has announced that the furlough scheme will be extended until the end of March, amid increased measures for business support as the UK enters a four-week lockdown. Payments are set to remain at 80% of employee’s wages. It comes as the chancellor said that it was “right…
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5 November
M&S confirms it will stay open during lockdown
Marks and Spencer has confirmed that its clothing and home division will remain open despite the lockdown restrictions. According to Drapers, M&S CEO Steve Rowe said that he wanted to make it “very clear” that it would follow the government guidelines but its stores would “remain open”. He said: “We’re…
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5 November
Clarks agrees £100m rescue deal with LionRock Capital
Clarks has been rescued in a £100m deal with LionRock Capital – the Hong-Kong-based private equity firm. Announcing its new partnership, LionRock Capital said it will acquire a majority stake in Clarks, with the Clark family to remain invested in the business. The £100m investment will enable Clarks to “position…
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5 November
Bank of England unveils £150bn covid support package
The Bank of England (BoE) has unveiled it will give the UK economy a further £150bn in crisis support and keep interest rates at a record low, due to the rapid rise in Covid-19 restrictions across the country. At the Banks latest Monetary Policy Committee (MPC), members stated that the…
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5 November
Joules trading exceeds expectations
Joules’ recent sales are exceeding expectations, according to the group’s trading update in the financial year to 31 May 2021. The clothing retailer is reporting “strong” year-on-year e-commerce growth of 35%, which accounts for 70% of the group’s overall sales for the period. Stores performed “ahead of the board’s expectations”…
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5 November
Sainsbury’s to axe 3,500 jobs
Sainsbury’s has warned that 3,500 of its staff could be made redundant across its supermarket counters and Argos stores, in what is a major restructuring of the business. The supermarket said it has now closed all of its meat, fish and deli counters due to “reduced customer demand”, adding that…
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4 November
John Lewis to cut 1,500 jobs
John Lewis is set to cut around 1,500 staff roles at its head office operations between now and April 2021, as part of the retail group’s ‘Partnership Plan’. It is believed the cuts will save another £50m on top of £50m of recent efficiencies, in order to turn to sustainable…
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4 November
Covid-19 could shutter 18,000 stores permanently, report shows
18,000 more retail stores face permanent closure in 2020 as Covid-19 restrictions continue to damage the UK highstreet. According to the Guardian, a report published by the Local Data Company (LDC) has revealed that it predicts nearly 15,000 more outlets will be left empty in 2020, compared with 9,169 net…
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4 November
Fortnum and Mason names new CEO
Fortnum and Mason has named Tom Athron as its new CEO, replacing Ewan Venters in the role. Prior to his appointment, Athron had held the position of chief operating officer at Matchesfashion since May 2018, and previously held a variety of roles at John Lewis Partnership, where he later acted…
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