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.
-
May- 2020 -7 May
Debenhams cuts over 1,000 jobs as five stores shutter permanently
Embattled department store chain Debenhams has revealed that five of its stores housed in Intu shopping centres will not reopen post-lockdown, effectively slashing over 1,000 jobs. A Debenhams spokesperson said the retailer will continue to engage in “constructive talks” with its landlords and has agreed terms on the vast majority…
Read More » -
7 May
Zalando anticipates FY sales growth of 10% to 20%
Online fashion retailer Zalando has revealed it is expecting an increase in its full year gross merchandise (GMV) volume by between 10% and 20%, despite a slowdown in sales in March due to the Covid-19 pandemic. The online retailer expects to continue to “grow profitably” and therefore anticipates an adjusted…
Read More » -
7 May
Superdry sales slide as stores are shuttered
Superdry has announced that its fourth quarter performance was “substantially impacted” by the outbreak of Covid-19, with year-on-year revenue tumbling 36.9% to £118.5m. Following the closure of all owned stores and most franchise locations, group revenue for the full-year was down 19.1% to £705.5m against the year prior. Store revenue…
Read More » -
6 May
Business rates revaluation postponed until 2022
A revaluation of business rates will no longer take place in 2021 in line with the government’s latest efforts to “reduce uncertainty” for firms affected by the ongoing pandemic. Communities Secretary Rt Hon Robert Jenrick MP confirmed that legislation has now been introduced to bring the next revaluation forward by…
Read More » -
6 May
Card Factory online sales soar over 250% amid UK lockdown
Cards and gifts retailer Card Factory has reported a 267.5% increase in online sales since the UK lock-down began in March. During the period the retailer said it recorded “significant growth” in visitors, conversion and sales. In response to this increased demand, and to support social distancing, the company has…
Read More » -
6 May
Waitrose to open new distribution centre to double deliveries in London
Waitrose this week will open a new six-acre Customer Fulfilment Centre in Enfield, North London, to double its online grocery orders in the capital by September. The upmarket grocer said the site will create 370 new jobs, building to 850 when at full capacity, by which time it will be…
Read More » -
6 May
McColls CFO departs to join Holland and Barrett
McColls CFO Robbie Bell has announced his departure from the convenience store chain to take up an equivalent role at health and wellbeing retailer Holland and Barrett. Bell succeeds Greg Watts, who has held the position of CFO at the retailer on an interim basis since last year. Bell joined…
Read More » -
6 May
CMA blocks JD Sport merger
The Competition and Markets Authority (CMA) has announced its decision to block JD Sports’ purchase of Footasylum after finding it would “leave shoppers worse off”. Following an in-depth investigation, the regulator concluded that this transaction would lead to a “substantial lessening” of competition, which would in turn leave shoppers with…
Read More » -
5 May
Furlough errors could cost small firms
SMEs are making errors on their applications for the Government’s furlough scheme, meaning they will have to repay thousands of pounds back to HMRC later, accountancy firm UHY Hacker Young has said. The firm explained it has seen many small business applications for the furlough grant that includes the cost…
Read More » -
5 May
Chancellor promises no ‘cliff-edge’ end to furlough scheme
Chancellor Rishi Sunak has promised there will not be a “cliff-edge” end to the Government’s furlough scheme. Speaking to ITV News, Sunak attempted to reassure a number of business groups who warned of the potential of mass redundancies if the scheme was to suddenly end and not be extended in…
Read More »
