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 -24 June
Naked Wines reports £200m revenues in FY results
Naked Wines has reported a 14% increase in revenues to £203m for the full-year period ended 30 March, up from £178.4m the previous year. The company also revealed that losses before tax also reduced to £5.4m, compared with £10m in 2019. Naked Wines said the outbreak of the coronavirus pandemic…
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23 June
PM confirms relaxation of two-metre social distancing rule
Boris Johnson has announced a reduction in the two-metre social distancing rule. In a speech in parliament this afternoon, the PM said that while maintaining at least a two-metre distance is still “recommended where possible”, the official guidance will be updated to recommend “one-metre-plus” where necessary, if “mitigations” such as…
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23 June
Convenience store sales outpace growth of overall grocery market in June
Sales at UK convenience stores grew by almost a fifth (17%) in the last four weeks ending 13 June 2020, as UK consumers in lockdown prioritise shopping at their most local and convenient store. This is according to new data from Nielsen, which found that demand for convenience shopping had…
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23 June
UK retail transactions grew by 60% last week, Barclaycard finds
By last week an additional 60% of Barclaycard’s customers had returned to trading and taking payments compared to the first week of April, as lockdown restrictions continued to ease. According to Barclaycard, comparing last week to the week prior – commencing 7 June – it found there was a 12%…
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23 June
Shoe Zone to make redundancies as 20 shops close
Footwear retailer Shoe Zone has revealed that 20 of its stores will not open post-lockdown, resulting in a number of its staff being made redundant. The news comes after the company reported a loss of £2.5m for the 26 weeks to 4 April 2020, compared with a profit of £1m…
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23 June
Intu braces for administration
Intu has placed administrators on standby as a “contingency plan” in the event that discussions with lenders fail. Reports that the group placed KPMG on standby first surfaced earlier this month. The shopping centre owner has now confirmed that KPMG has been brought in after stating that a failure to…
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22 June
JD Sports in talks to appoint administrators for Go Outdoors
Sports fashion retailer JD Sports is reportedly lined up to bring in administrators for its Go Outdoors business. In a statement released this morning, JD Sports said: “The group can confirm that it has considered a number of strategic options for Go and that Go’s directors have lodged the notice…
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22 June
Chancellor mulls VAT cut and could follow up with autumn tax rises
Chancellor Rishi Sunak is reportedly considering cutting VAT in order to help stimulate the economy but could follow the move up with a set of Autumn tax rises. According to the Financial Times, Sunak is planning deferred tax rises and cuts to public spending in his autumn Budget as a follow up to further stimulus…
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22 June
Hotter Shoes to launch CVA amid restructuring plans
Shoe retailer Hotter Shoes has revealed it intends to enter into a company voluntary arrangement (CVA) over the coming days in order to “restructure” the company. The move could see the the high street chain close over 60 of its UK stores, and comes after the retailer’s parent company, Electra…
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22 June
Bira welcomes extension of government protection scheme
Bira has “welcomed” the Government’s decision to extend protection for businesses from aggressive debt collection until September. The extended measures will prevent struggling retailers from being evicted with the current protection originally due to expire on June 30. The association said the decision was made by the Government after Bira…
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