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 -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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26 May
ScS resumes operations amid Covid-19 lockdown
ScS has announced the reopening of 80 stores across England, after temporarily closing operations on 23 March in line with government guidance. The decision to reopen was made “after carefully considering recently updated government guidelines and implementing enhanced health and safety policies and procedures, to protect our people and our…
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26 May
Burberry senior independent director departs due to ‘other executive commitments’
Burberry has announced that Jeremy Darroch, independent non-executive director and senior independent director, has informed the company that he will not stand for re-election at the company’s AGM on 15 July due to “other executive commitments”. Darroch joined the board in February 2014 becoming senior independent director on 1 July…
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22 May
Clarks to cut 900 jobs as part of new ‘made to last’ strategy
Clarks has announced the launch of its long-term ‘made to last’ strategy that is designed to ensure that Clarks has a “sustainable and successful future”, resulting in around 900 members of staff made redundant. Making the announcement, CEO Giorgio Presca said that the new strategy aims to deliver a new…
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22 May
Consumer confidence drops further in May
GfK’s long-running Consumer Confidence Index has decreased by one point to -34 for May, as the Covid-19 pandemic continues. The measure for the general economic situation of the country during the last 12 months has dropped seven points to -55, 25 points lower than in May 2019. Additionally, expectations for…
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22 May
Retail sees record slump in April
Retail sales slumped by a record 18.1% in April, according to the latest data from the Office of National Statistics (ONS). This marked the worst decline since ONS records began in 1988, and closely follows the “strong” monthly decline of 5.2% that was recorded in March. All sectors across retail…
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22 May
Burberry sales fall 27% amid Covid-19 pandemic
Luxury fashion retailer Burberry has reported a 27% decrease in like-for-like sales in its fourth quarter results, attributing the loss to the coronavirus pandemic. The fashion retailer also revealed a 57% drop in operating profit to £189m compared with £437m during the same period last year. Additionally, in its preliminary…
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21 May
Matalan reopens 15 retail park stores
Matalan has reportedly opened a select number of its stores located in retail parks across the country. According to Drapers, the retailer has reopened 15 of its stores following changes to the government’s guidance on 1 May that classes homeware as essential. As such around 417 members of staff have…
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21 May
Retailers set to receive £430m worth of tax rebates
The Supreme Court has handed the embattled retail sector a £430m tax lifeline by upholding an earlier decision that cash machines are exempt from business rates. The Court of Appeal ruled in November 2018 that cash machines within existing properties – whether internal or external facing – should not be…
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21 May
Ted Baker appoints ex-Topshop design exec as new creative director
Ted Baker has announced the appointment of former Topshop global design director, Anthony Cuthbertson, as its new global creative director (GCD). In his new role, Cuthbertson will be responsible for brand, product, store and creative direction strategy. He succeeds Michael Bastian, who will continue as creative director on an interim…
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