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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Jul- 2020 -1 July
John Lewis set to axe stores and jobs
Department store chain John Lewis is reportedly set to cut jobs in a bid to reduce its costs. In a memo first seen by the Evening Standard, chairman Sharon White told 80,000 employees that it was “highly unlikely” the group would reopen all of its John Lewis stores. In addition…
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1 July
Harveys collapses into administration as Bensons saved
Furniture retailer Harveys has collapsed into administration after the retailer’s parent company, Blue Group, called in PwC to financially restructure the business. Bensons for Beds, which is also owned by Blue Group, has been saved from the same fate after it was acquired by Blue Group owner Alteri Investors in…
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1 July
B&M reports ‘strong’ performance as revenue rises over 25%
Budget retailer B&M has reported a “strong” start to the financial year as it saw a 27.7% increase in group revenues to over £1.1bn during the period from 29 March 2020 to 27 June 2020. B&M said the strong start to the new financial year can be attributed to its…
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1 July
Sainsbury’s sales boosted by online growth
Sainsbury’s has welcomed a “particularly strong” online performance in its first quarter of trading, as online sales more than doubled, rising 87% year-on-year. From the start of the crisis, online orders rose from 370,000 to over 650,000 per week, and nearly 50% of new online groceries customers were reported as…
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1 July
Kingfisher appoints ex-Travis Perkins CFO as non-executive director
Kingfisher has announced the appointment of former Travis Perkins CFO, Tony Buffin, as a non-executive director with effect from 1 December 2020. Buffin joined Holland and Barrett as CEO last year, prior to this, he held the position as chief operating officer and chief financial officer at Travis Perkins. He…
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Jun- 2020 -30 June
TM Lewin collapses into administration
TM Lewin has collapsed into administration following news that the retailer was eyeing up a pre-pack administration deal. According to the Mail Online, the group cited the ongoing Covid-19 pandemic and the temporary closure of its stores in March as the main reasons behind the collapse. The move could result…
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30 June
Government confirms changes to ‘flexible’ furlough scheme
The UK government has confirmed the latest set of changes to its “flexible” furlough scheme – dubbed CJRS V2 – ahead of its launch of the 1 July. HM Revenue and Customs has set out the new guidance as the current version of the Coronavirus Job retention Scheme (CJRS) ends…
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30 June
Revised ONS data reveals greater GDP drop in Q1 2020
The UK’s gross domestic product (GDP) in volume terms fell by 2.2% in Q1 2020, which has been revised downwards by 0.2 percentage points from the Office for National Statisitic’s (ONS) first quarterly estimate. The ONS said it is the largest fall in UK GDP since Q3 1979, when it…
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30 June
Reopening is ‘no magic bullet’ for retail, says BRC
Reopening is “no magic bullet” for retail, the British Retail Consortium has warned despite UK footfall improving since lockdown restrictions were lifted earlier this month. The BRC’s footfall tracker found that UK footfall decreased 53.4% year-on-year during the second week of reopening in England and NI. This is compared to…
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30 June
Coty purchases 20% stake in KKW Beauty
Cosmetics and beauty company Coty has announced it has purchased a 20% stake in Kim Kardashian West’s KKW Beauty brand for $200m (£162 million). Kardashian West began her beauty range three years ago and the stake has been purchased off a brand valuation of $1bn (£813m). Earlier this year, Coty…
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