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 -15 October
Uniqlo ‘will recover’ says owner Fast Retailing
Uniqlo owner Fast Retailing has announced that its profit for the fiscal year declined 49% to 90.4m yen (£663,000) down from 178m yen (£1.3m). The decline in profit was attributed to the temporary closure of all Uniqlo stores during the global pandemic. Revenue decreased to 2.01bn yen (£14.7m) for the…
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15 October
London to move to Tier 2
London and Essex will face tougher Tier 2 Covid-19 restrictions from Saturday (17 October), including a ban on the mixing of households indoors, local MPs have been told. According to the BBC, health secretary Matt Hancock is set to update MPs on the latest measures in the Commons later today.…
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15 October
Deloitte resigns as EG auditors amid Asda acquisition
EG Group has appointed KPMG as its auditors after Deloitte resigned from the role due to “concerns over its governance and internal controls’’, according to sources close to the matter who spoke with the Financial Times. The UK petrol station company’s billionaire owners recently agreed to a deal to acquire…
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15 October
AO World H1 revenues surge 57%
Online retailer AO World has reported a 57% increase in revenues for the six month period ending 30 September 2020. In an interim trading update AO World said it expects group revenue for the period to be £715m. It also revealed that UK revenue increased by 54% and in Germany…
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15 October
Dunelm reports ‘very strong’ first quarter trading
Dunelm has reported “very strong’’ first quarter trading for the 13-week period ended 26 September with results coming in ahead of expectations. The homewares retailer saw its total sales increase by 36.7% to £359.1m, an increase of £96.5m year over the year. Online sales accounted for 29.7% of the quarter’s…
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14 October
Matalan profits drops by 44% at end Q2
Profit at retail chain Matalan dropped 44% to £25.8m during the 13 week period ending 29 August as the retailer reported lower revenues due to heavy discounting in a bid to clear stock. Revenue declined 11.6% to £258m, down from £292m the previous year. Net cash however, at the end…
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14 October
Asos group sales rise nearly 20% during lockdown
Asos announced its group sales for the year rose 19% to £3.3bn from last year’s sales of £2.7bn. The online fashion retailer saw its UK sales increase by 18% to £1.2bn compared with last £1.02bn last year. Asos said its sales were driven by an additional 23 million customers who…
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14 October
Tesco to hire 11,000 temporary staff
Tesco is set to hire more than 11,000 temporary members of staff to assist its stores during the festive period. New recruits will be hired across the UK and work in Tesco’s Superstores and Extra stores, with the focus being on filling roles in online delivery and store replenishment. Rachel…
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14 October
Waitrose launches first dedicated overseas e-commerce site
Waitrose has launched its first dedicated overseas e-commerce site with customers in the United Arab Emirates now able to order Waitrose products online straight to their homes from Waitrose.ae The new website will home more than 15,000 grocery products with over 2,800 delivery slots available each week, reaching more than…
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13 October
UK Flooring Direct continues ‘rapid’ expansion
UK Flooring Direct has opened a new warehouse and offices following the continued positive performance of the business throughout lockdown. The online flooring retailer announced it has moved to a 54,000 sq ft unit on Prologis Park in Coventry. The relocation is part of the firm’s plan to see 70…
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