News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Dec- 2019 -9 December
Tesco considers sale of its Asian arm
Tesco is considering the sale of its Malaysian and Thai businesses, the supermarket giant has confirmed. The two businesses have an estimated worth of £6.8bn between them. Tesco released a statement saying that this consideration follows “inbound interest” of the businesses, yet potential buyers are yet to be named. The…
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6 December
Jessops appoints administrators, 500 jobs at risk
Camera retailer Jessops has appointed administrators to its property arm, reportedly placing around 500 jobs at risk. According to The Guardian, the retailer’s main trading company Jessops Europe is not affected by the administration and its owner, Dragons Den’s Peter Jones, is thought to want to keep the business going.…
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6 December
CMA issues interim order to halt JD Sports’ Footasylum acquisition
The Competition and Markets Authority (CMA) has issued an interim order against the proposed £90m takeover of Footasylum by JD Sports, halting any further talks between the two companies until the watchdog’s investigation has been completed. Following the announcement of the deal back in March, the CMA launched an investigation…
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6 December
Boohoo founders sell off £143m of stock
Boohoo founders, Mahmud Kamani and Carol Kane, have announced the sale of 50 million shares in the fashion group, at a price of 285p with a total value of £142.5m. Following this placing, which was announced in a regulatory filing yesterday, the duo now possess just over 184 million shares…
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6 December
Sports Direct seeking Lillywhites London lease sale
Sports Direct has reportedly put the lease for its Lillywhites store in Piccadilly Circus up for sale. According to The Guardian, the 97-year lease for the 67,000 sq ft building has been put on the market, as landlord Criterion Capital, conducts rent review talks. Lillywhites has been trading at the…
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5 December
Gucci owner in talks over potential Moncler takeover
Gucci’s parent company Kering is reportedly in talks over a potential takeover of Italian apparel company Moncler. According to Bloomberg, executives at Kering and Moncler have held “preliminary discussions”, but also made it clear that there was no certainty the talks would lead to a transaction. Additionally, reports suggest the…
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5 December
Ted Baker drafts in AlixPartners to review operations
Ted Baker has reportedly drafted in consultancy firm AlixPartners to conduct a review of its operations. According to the Financial Times, the firm will review Ted Baker’s operations while coming up with a turnaround strategy. It is thought the appointment is separate to the investigation launched after the company’s board…
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5 December
Dunelm profits to beat expectations
Dunelm expects its full-year profits to beat original forecasts, the company said in its latest trading update. The furniture and homeware retailer said that gross margins were “stronger than expected” in the financial year to date, and believes that this is a result of “sourcing gains and better sell through”.…
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5 December
Joules revenues up 3.1% despite ‘challenging’ September period
Lifestyle brand Joules has reported a 3.1% increase in half-year sales attributed to a “disciplined” approach to promotional activity and “strong” e-commerce growth, despite it facing a “challenging” trading environment. Although wholesale revenues decreased by 3.8%, international revenues increased by 17% compared to 15.8% for the first half of last…
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4 December
Clintons saved from administration
Clintons has been saved from administration after the Weiss family regained control of the business through a new entity. Will Wright and Steve Absolom from KPMG, who were appointed joint administrators, sold the brand and its assets to Esquire Retail Limited – a holding company for the Weiss family. The…
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