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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Oct- 2020 -30 October
Amazon earnings triple in third quarter
Amazon has seen its net sales soar by 37% to $96.1bn (£74bn) in the third quarter of trading, up from the $70bn (£54bn) earnings reported in the third quarter of 2019. In the same period, net income also tripled to $6.3bn (£4.9bn) in the third quarter, compared with net income…
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30 October
UK shop vacancy rate increases to 13.2% in Q3
Shops in the UK are continuing to shutter, with the average shop vacancy rate increasing to 13.2% in the third quarter, according to data released by the Local Data Company and British Retail Consortium (BRC). On the high street, vacancies increased to 13% over the same period, in line with…
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30 October
Waitrose to hire 1,850 extra Christmas staff
Waitrose has announced it will be recruiting nearly 1,850 additional drivers and pickers for its online delivery service during the busy Christmas season. The combination of both temporary and permanent roles will reportedly help meet the expected “surge” in customer demand for the Waitrose.com service. The positions will cover both…
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29 October
Frasers Group to open new ‘game-changing’ multi-brand store
Mike Ashley’s Frasers Group, is set to open a brand new multi-fascia store in Portsmouth this weekend, as part of the group’s ongoing elevation programme. The new 51,000 sq. ft store, situated in the Cascades Shopping centre, will feature the brand’s new “premium design”. It is the very first multi-destination…
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29 October
Ebay raises guidance as Q3 revenues soar
Ebay has announced that revenue soared by 25% to $2.6bn (£2bn) in the third quarter ended 30 September, 2020. In the same period, annual active buyers grew by 5% for a total of 183 million global active buyers, while gross merchandise volume was up by 22% to $25bn (£19.2bn) on…
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29 October
Shoe Zone to close fifth of stores over next two years
Shoe Zone has announced it expects to close a further 90 stores in the next 18 to 24 months, attributing the closures to the continued impact of Covid-19. The shoe retailer said it will close up to 45 stores by April 2021 in a move that will create “numerous” redundancies,…
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29 October
Hornby returns to profit as revenue surges 33%
Hornby has made a return to profitability in the first half of its financial year. The hobby products company, specialising in model trains, has increased its revenue by 33% to £21.1m following a business restructuring and new product launches. The business reported a statutory pre-tax profit of £17,000 compared to…
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28 October
Next Q3 sales fall 17%
Fashion retailer Next has reported a 17.9% decline in Q3 amid the continued impact of the coronavirus pandemic. The firm said its markdown sales were 12.3% lower than last year attributing to “lower footfall” in retail stores and “capacity constraints” in the online warehouses. Cash flow forecast increased by £25m,…
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28 October
Retail sales drop at sharpest pace since June
Retail sales figures in the UK have fallen at the sharpest pace since June, according to the Confederation of British Industry’s (CBI) latest monthly Distributive Trades Survey. In the survey of 116 firms, including 54 retailers, non-food retail categories such as department and clothing were among those reporting falling sales.…
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28 October
Notonthehighstreet mulls £200m sale
Notonthehighstreet is reportedly eyeing a £200m sale after its revenues “surged” during the coronavirus pandemic, according to Sky News. The online gifts retailer is reportedly working alongside investment bank Evercore on a potential auction, and sources told Sky that a “number” of trade bidders and private equity groups have so…
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