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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May- 2020 -28 May
Mike Ashley fails to prompt financial investigation into Debenhams
Retail mogul Mike Ashley has failed to trigger an investigation into the financial affairs of embattled department store chain Debenhams, reports have claimed. According to Sky News, Ashley’s lawyers requested that a “provisional liquidator” be appointed to handle the investigation. However, judge Mark Mullen refused to make the appointment during…
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28 May
British Land sees over £1bn wiped off its property value
British land has seen over £1bn wiped off the value of its portfolio which it has attributed to a shift in online shopping that has been accelerated by the coronavirus pandemic. The value of its portfolio, which includes prime central London properties, fell by over 10% from £12.3bn to £11.2bn…
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28 May
Boohoo buys out Pretty Little Thing
Boohoo has announced the acquisition of the remaining 34% of shares in Pretty Little Thing (PLT) from minority shareholders, in a deal that could potentially rise to £323.8m. News of the acquisition closely follows a recent share slide after a short-selling note, issued on 26 May, which alleged that the…
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28 May
McColls appoints Giles David as CFO
McColls Retail Group has announced the appointment of Giles David to its board as chief financial officer (CFO). David will join the group on 1 June having previously held the position of CFO at Casual Dining Group, a position he was appointed to in 2017. He has over 20 years…
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27 May
UK online sales surge by more than 100% in May
UK online sales surged by 103% in the four weeks ended 16 May, according to new data from Nielsen. The consumer insights firm said this was a significant increase compared with the 6.6% sales growth in bricks-and-mortar stores, with online share of sales now accounting for 13% of all grocery…
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27 May
Frasers Group CFO blames reopening delay on ‘Cummings fiasco’
Chris Wooton, the chief financial officer of the Frasers Group, has blamed the new opening date for non-essential retail as a result of the “Dominic Cummings Fiasco” which has made the government “hesitant”. Speaking to ITV News last night (26 May) Wooton made the claim that the current controversy surrounding…
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27 May
Hammerson CEO David Atkins to step down
Shopping centre owner Hammerson has announced that its CEO, David Atkins, has decided to step down from his role. Atkins will remain in position until spring 2021 at the latest, while the board searches for his successor. Atkins joined the company in 1998 and was appointed as CEO in 2009.…
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27 May
Bank Holiday footfall surges 50% as lockdown eased
High street footfall surged 49% over bank holiday Monday against Easter Monday, according to the latest figures from Springboard. Footfall across retail parks increased by 42% on Saturday compared with Easter Saturday, whilst footfall across all UK retail destinations on both Saturday and Monday was a third higher than the…
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26 May
Non-essential retailers set to open in June
Thousands of high street shops, department stores and shopping centres across England are set to reopen next month once they are “Covid-19 secure” and can show customers will be kept safe, Prime Minister Boris Johnson has said. All non-essential retailers including shops selling clothes, shoes, toys, furniture, books, and electronics,…
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26 May
Crew Clothing owner abandons attempt to back out of Moss Bros takeover
Brigadier Acquisition, a vehicle set up by the owner of Crew Clothing, has abandoned its attempt at backing out of its £22m takeover of Moss Bros. According to Sky News, it comes just three days after Brigadier said it would appeal the Takeover Panel’s verdict that it should complete the…
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