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 -6 October
Ann Summers moves towards CVA
Ann Summers has suggested that it is likely to launch a CVA after the lingerie retailer failed to negotiate rental terms with landlords. The company has started talks with the British Property Federation, which would likely lead to the beginning of the insolvency process. More than half of the landlords…
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6 October
Shadow Health secretary urges Boohoo investors to oust bosses
The shadow health minister has urged Boohoo’s largest investors to remove its current bosses following reports of unsafe working conditions at some of its warehouses. According to the Daily Mail, Liz Kendall has written a letter to Jupiter, Invesco and Baillie Gifford calling for them to remove chairman Mahmud Kamani…
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6 October
Watches of Switzerland raises guidance as sales surge
Watches of Switzerland has announced that revenue for the first 10 weeks of Q2 has been “stronger than expected” at £202.7m, up 20.2% in constant currency and 18.3% in reported terms against the prior year. The group also reported sales to date of £145.1m, up by 12.6% against the prior…
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6 October
High Streets Task Force appoints 150 experts
The High Streets Task Force has appointed 150 professionals to work with local authorities in England over the next four years, supporting their evolution and response to Covid-19. Towns in England will receive advice on progressing local plans, bidding for investment and helping the high street post-pandemic. The ‘experts register’…
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5 October
Waitrose eats into Ocado’s market share despite M&S deal
Waitrose has reportedly stolen some online market share from its former partner Ocado in the first few weeks of Ocado’s new joint venture with Marks and Spencer. According to The Sunday Times, in the first two weeks after the launch of Ocado’s new partnership, its weekly online orders dropped from…
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5 October
Very Group appoints digital customer experience director
The Very Group has appointed Paul Hornby as the company’s digital customer service director. Hornby is set to rejoin the online retailer from Matalan in January 2021, having been Very’s head of Commerce and head of Transformation. In his new role, Hornby will work towards giving customers an accessible mobile…
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5 October
Mulberry swings to full-year loss
Mulberry has announced that group revenue fell by 10% to £149.3m in the full-year ended 28 March 2020, in light of a “challenging” UK market and the impact of the pandemic towards the end of the financial period. The group also swung to a pre-tax loss of £14.2m, down from…
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2 October
Asda sold at £6.8bn to billionaire Issa brothers
Walmart has confirmed the Issa brothers and TDR Capital have taken equal shareholdings in an acquisition of Asda which values the supermarket at £6.8bn. The two groups have now acquired a majority stake in Walmart’s wholly-owned UK business on a debt-free and cash-free basis, and the transaction is expected to…
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2 October
Clarks pension trustees call in advisers
Pension trustees at shoe retailer Clarks have reportedly drafted in advisors as they seek to secure additional finance for the company. According to Sky News, the company’s retirement holders have called in advisers from FRP Advisory and Penfida after discussions were had with two potential bidders. Just last week it…
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2 October
Nearly half of UK firms report Q3 sales decrease
Business conditions remain weak in the third quarter of 2020, despite “much of the economy” reopening, according to the latest Quarterly Economic Survey from the British Chamber of Commerce (BCC). Its survey of 6,410 firms found that while key indicators have improved from the “historic lows” in Q2, they remain…
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