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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Aug- 2020 -13 August
Morrisons appoints two new non-exec directors
Morrisons has appointed chair of Made.com, Susanne Given and Sky UK CCO, Lyssa McGowan, as non-executive directors with immediate effect. Given and McGowan will also be appointed to the audit, corporate compliance and responsibility, nomination, and remuneration committees. Given is currently chair of Made.com Ltd and Outfittery GmbH. She is…
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12 August
UK in recession following 20% GDP slump
The UK economy has entered into a technical recession following a “record” fall in gross domestic product (GDP) during the second quarter of the year. According to the Office for National Statistics, GDP slumped by 20.4% between April and June 2020, compared with the 2.2% drop seen during Q1 2020…
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12 August
Mike Ashley’s Frasers Group delays results for second consecutive year
Mike Ashley’s Frasers Group has announced it is to delay the publication of its annual results for the second consecutive year. Frasers Group, which comprises House of Fraser, Sports Direct, Evans Cycle and Flannels, had been scheduled to release its latest set of financial results tomorrow (13 August) but it…
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12 August
Asos forecasts rise as returns fall
Asos has announced that sales and profit for its full year of trading are expected to be “significantly ahead” of market expectations. The retailer said that revenue growth is now expected to be between 17% and 19%, with profit before tax in the region of £130m to £150m. The strong…
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12 August
Thomas Rabe appointed Adidas chairman
Adidas has appointed Thomas Rabe, CEO of Bertelsmann, as chairman of the company’s supervisory board. He will succeed Igor Landau whose supervisory board mandate expired after 16 successful years at the end of the Annual General Meeting on yesterday (11 August). Rabe has been a member of the Adidas supervisory…
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11 August
Debenhams cuts 2,500 jobs
Embattled department store chain Debenhams has cut 2,500 staff roles. The retailer said that the job cuts, believed to be across both its retail and warehouse staff, have been made in order to give the company “every chance of a viable future”. A spokesperson said staff affected by redundancy have…
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11 August
Frasers Group mulls Debenhams acquisitions
Frasers Group owner Mike Ashley is reportedly looking to acquire up to 30 Debenhams stores. According to the Mail, sources claim Ashley has discussed the acquisition proposals with senior members of staff, and a potential statement clarifying the speculation could be released this week. Ashley has previously attempted to take…
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11 August
New Look eyes second CVA deal
Embattled fashion retailer New Look is reportedly planning to launch a second CVA that will ask its landlords to switch to a turnover-based rent system. According to reports it is set to appoint ‘Big Four’ accountancy firm Deloitte to negotiate with over 450 landlords across its 480 store estate. It…
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11 August
Zalando sees revenues rise 20%
Online fashion retailer Zalando has reported a 19.6% increase in revenues to €3.56bn (£3.2bn) in the first half of 2020, compared with €2.98bn (£2.68bn) in the same period last year. In this period, Zalando reported a 25.1% increase in group GMV to €4.72bn (£4.24bn), compared with €3.77bn (£3.38bn) in 2019.…
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11 August
Retail sales rise for second month in a row
Total sales increased by 3.2% in July, against an increase of 0.5% in July 2019, marking the second consecutive month of growth since the start of the pandemic. According to the latest BRC-KPMG retail sales monitor, UK retail sales increased by 4.3% in the month against the year prior, following…
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