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 -11 June
Majority of SMEs believe UK is headed for deep recession post-pandemic
Almost seven in 10 (69%) small business owners believe the UK is heading for a deep recession following the coronavirus pandemic and resulting lockdown, according to new research from FreeAgent. In addition, almost three quarters (73%) believe many small businesses will struggle to make enough money to survive and two…
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11 June
CBI names Tony Danker as its next director-general
The CBI has announced that Dame Carolyn Fairbairn, who is stepping down as director-general in November, will be succeeded by Tony Danker, the current chief executive of Be The Business. Fairbairn had expected to complete her five-year term in September this year but agreed with the CBI board to extend…
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11 June
Fenwick to reopen all nine UK stores on 15 June
Department store Fenwick revealed that all nine of its UK stores will reopen from Monday (15 June) as lockdown measures begin to ease. Fenwick said in order to prepare for its reopening, each store has undergone “intensive” cleaning both front and back of house, with “extensive social distancing measures implemented”.…
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11 June
B&M hails year of ‘solid growth’ despite pandemic
B&M has revealed that group revenue increased by 16.5% to £3,813.4m in the full-year ended 28 March, despite the effects of the ongoing pandemic. In the same period, its UK business delivered “strong trading”, with revenue up by 12.6% in the period. This included a like-for-like growth of 3.3% for…
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10 June
Quiz places loss-making stores into administration
Quiz has revealed it is placing the division that runs some of its loss-making stores into administration. Quiz said that in order to “protect the future” of the company it has decided to appoint joint administrators from KPMG to the group’s 82 standalone stores in the United Kingdom and the…
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10 June
Signet to close 80 UK stores permanently
Signet Jewelers has announced that it will not reopen 80 of its UK stores, in an effort to emerge “stronger and more efficient” following the Covid-19 crisis. As part of its decision to accelerate its ‘Path to Brilliance’ programme Signet, which has 3,200 stores worldwide, has revealed initially 150 of…
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10 June
UK GDP expected to decline 7.2% in 2020 amid ongoing pandemic
The continuing impact of the Covid-19 virus is expected to see the UK economy contract by 7.2% in 2020, with the economy unlikely to be able to fully restart until a vaccine or effective treatments for the virus are available. This is according to KPMG UK’s latest quarterly Economic Outlook,…
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10 June
The Hut Group reports FY sales of £1.1bn
Health and beauty retailer The Hut Group (THG) has reported a 24% increase in group sales to £1.14bn in its full year results. In the year ended 31 December, the company reported a 22% increase in gross profit to £511m compared with £417m in 2018. International sales attributed to 66%…
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10 June
70% of shoppers ‘not comfortable’ returning to shops
Consumers remain “deeply cautious” about returning to shops, the latest EY Future Consumer Index has revealed ahead of retailers opening next week (15 June). According to the survey of 1,017 consumers, 80% said they would be “uncomfortable” trying on clothes in a store, while only 25% are “currently comfortable” visiting…
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9 June
Debenhams to close three more stores permanently
Debenhams has confirmed three more of its stores will not reopen once lockdown restrictions are eased next week. It revealed that three of its stores located in Intu shopping centres will close permanently after it failed to agree terms with the shopping centre owner. The stores are located within Intu…
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