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 -5 June
Consumer confidence slips further amid UK lockdown
GfK’s long-running Consumer Confidence Index has decreased by two points over the past two weeks. In the market research firm’s third Covid-19 flash report, it found that the measure for the general economic situation of the country dropped five points to -60 between 20 and 26 May. Additionally, the outlook…
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5 June
Debenhams prepares to reopen 50 UK sites
Debenhams has announced it is preparing to reopen a 50 of its sites in England in phases from the beginning of next week. The department store announced three stores with street access will open in Northern Ireland on 8 June, including the Belfast flagship, with Debenhams’ two remaining stores in…
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5 June
Online sales reach 10-year high
British retailers recorded a 10-year high for online sales in May while the continued lockdown measures kept high streets empty, according to new figures by accountancy and business advisory firm BDO. According to BDO’s High Street Sales Tracker (HSST), total like-for-like sales, consisting of both in-store and non-store sales, declined…
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5 June
Gap sales nosedive by 43% in first quarter
Gap Inc. sales plunged 43% year-on-year in the first quarter of 2020, largely driven by store closures across its estate. In the period ended 2 May, the group posted a total net loss of $932m (£735m), down from a profit of $227m (£179m) posted the same period the year prior. …
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4 June
M&S lowers share award payout for top execs amid Covid-19 pandemic
Marks and Spencer has lowered the share payout for it’s top two executives, amid the ongoing Covid-19 pandemic. This largely affects chief executive Steve Rowe and finance director Eoin Tonge, whose awards have now been lowered from 250% to an intended 175% of their salary. It comes after the retailer’s…
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4 June
New Look enters talks with landlords seeking turnover-based rent
High street retailer New Look has reportedly entered talks with its landlords about switching to a turnover-based rent system. According to Sky News, New Look has appointed the property agents CBRE and CWM to negotiate terms for its 500 store portfolio across the UK. Reports also suggest that if the…
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4 June
Co-op expands robot service in Milton Keynes
The Co-operative has expanded its same-day autonomous robot deliveries in the UK across Milton Keynes and surrounding towns and villages amid the Covid-19 pandemic. The convenience retailer became the first to trial same-day autonomous robot deliveries in the UK when it teamed-up with Starship Technologies in April 2018 to offer…
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4 June
LVMH retreats from Tiffany takeover
Luxury powerhouse LVMH has announced that it will no longer go ahead with its proposed takeover of Tiffany & Co in light of “recent market rumours” amid the pandemic. LVMH had initially announced a “definitive” agreement with the luxury jewellers last November, whereby it outlined its intention to acquire the…
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3 June
28 Oddbins stores saved from administration by unnamed buyer
Off-license retail chain Oddbins has seen 28 of its stores saved from administration by an unnamed buyer. It comes as Philip Duffy and Matthew Ingram, both of Duff and Phelps, announced the sale of a “substantial part” of the business and assets of Whittalls Wine Merchants and associated companies which…
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3 June
Hiring starts to pick up in retail industry as lockdown eases
Hiring has started to pick back up in the retail industry last month, with job vacancies advertised increasing by an impressive 27.1% month-on-month, according to the latest data from CV Library. The study looks at job market data throughout May and compares this with figures from the previous month (April…
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