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 -3 August
Hobbycraft reports 200% increase in online sales amid lockdown
Hobbycraft has reported a 200% increase in like-for-like online sales in its FY results as it appears to have weathered the impact of the coronavirus. For the year ended 16 February 2020, the craft retailer reported an 8.9% increase in revenues to £193.6m. Adjusted EBITDA increased by 21.9% to £14.8m…
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3 August
Hammerson taps investors for cash
Hammerson has confirmed that it is holding advanced discussions regarding a possible disposal of a stake in a European arm of its business, after suffering from unpaid rents amid the coronavirus crisis. The shopping centre landlord is now looking to sell a 50% stake in VIA Outlets to joint venture…
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Jul- 2020 -31 July
TUI to shutter 166 stores
TUI is set to close 166 high street stores in the UK and Ireland as it “adapts to changes in customer behaviour” caused by the Covid-19 pandemic. The group said the impacted stores were selected based on a number of factors, including local market data, consumer trends and predictions on…
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31 July
Amazon profits double despite Covid-19 impact
Amazon has reported a massive surge in profits for the second quarter of the year as it revealed that net income doubled from $2.6bn (£1.9bn) to $5.2bn (£3.9bn), despite the impact of Covid-19. It comes after it reported that net sales increased by 40% to $88.9bn (£67.6bn) in the second…
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31 July
Pets at Home sales stabilise in quarterly results
Pets at Home has announced that total group revenue fell by 1% in the quarter ended 16 July, while like-for-like revenue was down by 0.7% in the period. Amid the onset of the pandemic, the first eight weeks of the period saw like-for-like revenue tumble 13.5%, though this was later…
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31 July
ScS reports ‘strong’ growth in lockdown-sales
Furniture retailer ScS has said trading has been “very strong” both in-store and online, since the reopening of its stores following the coronavirus lockdown, reporting a 92.2% increase in orders since 24 May. However, ScS reported a 92.5% drop in sales during the lockdown period as stores were temporarily closed.…
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30 July
Game sells Belong arenas to Vindex in $50m deal
Mike Ashley’s Game Digital has revealed it is set to sell its Beyond Esports gaming arenas to US-based start-up Vindex in a deal worth $50m (£38.5m). The deal sees Vindex acquire the Belong Gaming Arenas brand and all associated IP from the largest video games retailer in the UK and…
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30 July
Westfield rental income slumps in H1 results
Westfield owner, Unibail-Rodamco-Westfield (URW), has reported a 14.2% slump in net rental income to €1bn (£904m) in its half-year trading update. In the UK, net rental income value was down 34.1% to €50m (£45.2m). URW’s overall proportionate portfolio valuation also declined by 5.1% during the period. The group said the…
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30 July
Aldi to create 1,200 new jobs by end of the year
Aldi is set to hire 1,200 new employees by the end of the year as it pushes ahead with plans to open an average of one new store a week between now and Christmas. The supermarket, which currently has more than 890 stores and employs around 35,000 people across the…
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30 July
Waterstones set to axe HQ roles
Waterstones is reportedly set to make a number of redundancies at its Piccadilly-based head office. According to the Bookseller, the group said it was “currently in consultation” with those affected by the cuts, but declined to confirm the number of jobs at risk. In addition, a spokesperson confirmed the group…
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