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 -16 June
H&M sales halve in second quarter
H and M net sales halved in the second quarter of 2020, tumbling 50% to 28.7bn Swedish krona (£2.4bn) following global lockdowns amid the ongoing pandemic. The fashion giant’s local currency net sales also halved in the period between 1 March and 31 May. E-commerce fared better, however, with online…
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15 June
Travis Perkins to cut 2,500 jobs amid Covid-19 pandemic
Wickes owner Travis Perkins has revealed plans to cut almost 2,500 jobs amid the ongoing Covid-19 pandemic. It comes amid a consultation process regarding the closure of around 165 branches across its overall estate, representing approximately 8% of the group’s network. The company said branch closures will be concentrated in…
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15 June
Hammerson chair to step down
The board of Hammerson has appointed Robert Noel as the new non-executive chair of the company, succeeding David Tyler. Noel will join the board and take over the position with effect from a date “no later than 1 October 2020”, at which point Tyler will step down from the company.…
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15 June
Matalan seeks £29m HQ sale
Matalan is reportedly seeking a sale of its Liverpool-based headquarters as it looks to inject more cash into the business as the coronavirus pandemic continues. According to the Sunday Times, the retailer is looking to raise around £28.5m from a sale and leaseback of the property. Reports also suggest that…
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15 June
Usdaw urges public to ‘respect shopworkers’ as shops are allowed to reopen
Shopworkers union Usdaw has urged customers to respect staff and employers to ensure safety in stores, as shops are allowed to reopen from today (15 June). The news comes as Usdaw released statistics revealing one in six shop workers have suffered abuse on every shift, during the coronavirus pandemic. The…
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15 June
Retailers to suffer for ‘some time to come’, says BRC
Footfall across the UK tumbled by 81.6% in May, as the British Retail Consortium (BRC) has warned that retailers may suffer lower footfall and sales “for some time to come”. According to its latest report, the decline recorded in May marked a “shallower decline” than the month prior, as certain…
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12 June
UK GDP slumps over 20% in April as full impact of Covid-19 is felt
GDP slumped by 20.4% in April 2020, following a fall of 5.8% in March, according to the latest figures from the Office for National Statistics (ONS). It is the biggest monthly fall since the ONS’ series began in 1997, with the measure also falling by 10.4% in the three months…
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12 June
Curry’s PC World to reopen 131 stores as ‘tech help hubs’
Currys PC World has unveiled plans for a phased reopening of 131 of its stores from next week, initially opening as ‘Tech Help Hubs’ to support customers with “existing tech needs”. Launching from Monday 15 June, the retailer said for the first three days its stores will be used to…
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12 June
The Works aims to reopen 465 stores next week
The Works has announced it is aiming to reopen 465 stores across England, Northern Ireland and the Republic of Ireland next week. The stationery retailer temporarily closed its stores in March due to government guidelines surrounding the coronavirus pandemic. The company said it is following government safety guidelines and each…
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12 June
Poundstretcher faces CVA, 5,500 jobs at risk
Poundstretcher is facing a risk of closure across the majority of its estate, following news it is launching a CVA in a bid to seek rent cuts from its landlords. According to Sky News, the discount retailer has initiated a “radical” restructuring programme that will seek to cut rents at…
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