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 -8 October
New Covid-19 restrictions hit city-centre hospitality hardest
The impact of schools starting and government Covid-19 restrictions hit city centre hospitality and retail the hardest, a study has found. According to Springboard, a retail and hospitality research company, footfall rebounded in September having dropped by 28.2% in August. The recent slump in footfall is a consequence of the…
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8 October
Very Group revenue tops £2bn for first time
The Very Group has announced a return to profit as group revenue rose by 2.9% in the full-year to top £2bn for the first time in its history. The group reported a pre-tax profit of £48m and underlying EBITDA of £264m, both of which included coronavirus-related costs. Very.co.uk retail sales…
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8 October
Frasers Group investors back £100m bonus scheme
Investors in Mike Ashley’s Frasers Group have overwhelmingly voted in favour of a new £100m staff reward plan at the company’s AGM meeting yesterday (7 October). Results revealed on the group’s investor page show that 99.97% of shareholders voted in favour of the company’s new ‘All-Employee Omnibus Plan’ that could…
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8 October
Ebay UK to launch ‘Pay As You Go” scheme
Ebay UK is set to launch the ‘Pay As You Go’ scheme for start-ups, in response to the economic downturn resulting from Covid-19. From 9 October, the e-ecommerce site will remove all fees for first time sellers for their first 100 sales each month and fees will be “significantly” reduced…
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7 October
Businesses must check furlough inaccuracies before HMRC deadline
Businesses using the furlough scheme have been urged to “thoroughly check” their claims for inaccuracies before HMRC’s cut-off date to avoid the risk of fines or prosecution. Accountancy firm Kilsby Williams issued the warning after HMRC sent letters to a growing number of businesses to inform them of potential errors…
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7 October
AO opens third warehouse in four months
Online electricals retailer AO is opening its third warehouse in four months. The Stoke-on-Trent site will add 275,000 square feet of warehouse space to their distribution portfolio. AO’s fifth warehouse in total will also create 120 new jobs in the Staffordshire area, part of the company’s nationwide recruitment drive of…
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7 October
Clarks may turn to CVA to secure LionRock rescue deal
Embattled shoe retailer Clarks may reportedly resort to launching a CVA that could lead to some store closure in order to secure a rescue deal from potential investors LionRock Capital. According to Sky News, any rescue deal from LionCapital is reportedly contingent on a CVA proposal being approved by its…
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7 October
Sosander continues sales momentum post-lockdown
Sosander has maintained trading momentum in its latest half-year of trading, according to its interim trading update for the six months ended 30 September. The Cheshire-based online retailer saw revenues rise following the lockdown period and the business revealed a 52% in turnover of £4.3m for the period. Sales momentum…
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7 October
Tesco profits soar despite coronavirus hit
Tesco has welcomed a surge in profits, with pre-tax profit soaring by 28.7% to £551m in the first-half of its financial year. In the same period, group sales rose by 6.6% to £26.7bn, up from £25bn reported the year before. While clothing sales were down by 17.2%, food sales were…
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6 October
Curfew and poor weather leads to second week of footfall decline
Overall, retail footfall across all destinations is 31.4% lower than last year Footfall has declined by 3.5% in the latest figures, and is attributed to both the 10pm curfew and heavy rainfall. According to retail experts Springboard, excessive rain from Wednesday onwards hit shopping patterns. Sunday and Tuesday…
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