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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Jun- 2020 -30 June
Waitrose to create 800 jobs with third online warehouse
Waitrose has unveiled its plans to open a third online fulfilment centre, which will see its online order slots in London quadruple. The centre, based in Greenford, West London, will create 800 jobs in the local area, and “significantly” increase the availability of delivery slots for customers in and around…
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29 June
H&M half-year sales slump amid Covid-19 pandemic
Fashion retailer H&M has reported a 23% decrease in net sales to SEK 83,612bn (£7.2bn) for the half-year period ended 31 May 2020. The group said it was “significantly negatively affected” by the Covid-19 situation, with pre-tax losses amounting to SEK 3,063bn (£265m) during the H1 period. H&Ms net sales…
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29 June
TM Lewin hires restructuring firm as it eyes pre-pack deal
The new owner of TM Lewin has reportedly called in a restructuring firm as it considers a pre-pack administration deal that could see the closure of a number of its stores. According to The Sunday Times, SCP Private Equity, who acquired the shirt maker earlier this year, has appointed restructuring…
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29 June
Investors push for Trafford Centre sale
A Canadian investor is reportedly pushing for the sale of Intu’s Trafford Centre following Intu’s collapse, the Sunday Times has reported. The reports come only days after Intu collapsed into administration on Friday 26 June. Following the administration, control of Intu’s 17 shopping centres will be passed to their respective…
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29 June
Estée Lauder Companies promotes Stéphane de La Faverie as group president
Estée Lauder Companies has announced the promotion of Stéphane de La Faverie to the position of group president. La Faverie was named global brand president of Estée Lauder and Aerin in July 2016 and will continue in his role of global brand president following the promotion. He will report directly…
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26 June
Intu collapses into administration
Intu has officially called in administrators, after weeks of speculation that the group was on the brink of collapse. The retail property giant issued a statement this morning stating that it was “likely” that the group would appoint administrators, after admitting that it had so far failed in reaching standstill…
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26 June
Just 13.8% of retail rent collected on June quarter day
Landlords received just 13.8% of rent owed by the UK retailers on this quarter’s rent date, compared with the 19.8% collected in March, according to new data from Re-Leased. The cloud-based commercial property management platform said retail properties were the “worst performing group” compared with offices and the industrial sector,…
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26 June
Intu admits appointment of administrators ‘likely’
Shopping centre owner Intu has admitted that it has so far failed in reaching standstill agreements with landlords and therefore is “likely” to appoint administrators. On 23 June 2020, Intu provided an update on discussions with key stakeholders to progress its standstill strategy ahead of the revolving credit facility covenant…
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26 June
Card Factory CEO announces departure
Card Factory has announced the departure of CEO, Karen Hubbard, after four years in the role. During her time as CEO, Hubbard supported the transition of Card Factory from a recently listed company to an established plc. Prior to joining the card retailer, Hubbard held senior positions at B&M Retail,…
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26 June
Tesco sales soar as online business booms
Tesco saw sales surge in the first quarter of trading, with like-for-like sales up 8.2% despite the pandemic and nationwide lockdown. In the quarter ended 30 May, total sales were up by 9.2%, while online sales soared by 48.5% as more shoppers shifted online. The group doubled its online capacity…
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