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 -9 June
Game to reopen stores across England and Northern Ireland
Game has announced plans to reopen all stores across England and Northern Ireland from Monday 15 June, in line with the latest Government guidance. The video game retailer said all stores in Wales and Scotland are ready to re-open, but will remain closed until current guidelines are lifted. Game is…
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9 June
Consumer spending drops 26.7% year-on-year in May
Consumer spending contracted 26.7% year-on-year in May. This is according to new data from Barclaycard, which revealed that spending on essential items grew slightly by 0.9%. This was bolstered by a 24.5% rise in supermarket spend – which increased to 27% in the week preceding the VE Day weekend as…
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9 June
Sosandar sees revenues spike 62% as it announces John Lewis and Next deals
Online womenswear retailer Sosandar has revealed it has seen revenues spike 62% year-on-year over the past two months since lockdown began. In a Covid-19 trading update Sosandar said it has “responded well to a period of significant disruption and uncertainty”. Adding that as an online-only business, it has been able…
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9 June
Retailers face second worst month on record
May was another “testing” month for retailers, with total sales down by 5.9%, according to the latest BRC-KPMG retail sales monitor. The decline was less drastic when compared to April’s fall of 19.1%, but still marked the second worst decline recorded since the monitor began in 1995. Throughout the month,…
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9 June
Iceland founder and CEO take full ownership after buying 63% stake
Frozen food retailer Iceland has announced that its founder and executive chairman Sir Malcolm Walker and chief executive officer Tarsem Dhaliwal have taken full ownership after buying out the entire shareholding of the company’s sole external investor Brait. Walker and Dhaliwal have bought Brait’s shareholding in Iceland Topco, representing 63.1%…
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8 June
Mulberry to cut global workforce by 25%
Luxury retailer Mulberry has announced the launch of a consultation process on proposals to reduce its workforce by approximately 25% across its global business. The fashion giant said that the move was proposed following efforts to manage its cost base and operations in light of the ongoing “uncertainty” presented by…
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8 June
Intu places KPMG on standby as administration threatens
Shopping centre owner Intu has reportedly placed KPMG on standby in case it falls into administration ahead of an important period for the business. According to Sky News, Intu will appoint KPMG to handle an insolvency process if lenders refuse to freeze its debt obligations. Intu has reportedly requested a…
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8 June
Usdaw opposes government plans to open supermarkets full time on Sundays
Shopworkers union Usdaw has condemned government plans to let supermarkets open for 24 hours a day on Sundays as “a slap in the face” for key workers. The news comes as the government is considering trading laws limiting supermarket Sunday opening times to six hours, in an attempt to boost…
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8 June
FRC closes five-year investigation into Tesco
The Financial Reporting Council (FRC) has announced the closure of a five-year investigation into the accountants working within ‘Big Four’ grocer Tesco. The investigation itself related to the £250m overstatement of profits it reported in 2014, and the UK watchdog said the matter has now been closed “without service of…
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8 June
Footfall begins ‘journey to recovery’ in May
Consumer footfall may have begun its “long journey to recovery” in the month of May, according to the latest figures from Springboard. Whilst footfall dropped by 73.3% in May, this still marked a “marginal improvement” from the month prior, when footfall saw a decline of 80.1% in light of the…
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