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 -1 May
Intu appoints to chief restructuring officer to ‘fix’ balance sheets
Shopping centre owner Intu has announced the appointment of David Hargrave as chief restructuring officer to “fix” its balance sheet amid the Covid-19 pandemic. Hargrave has 33 years of experience in the transaction business of ‘Big four’ accounting firms, where he held senior positions at PwC, from 1987 to 200…
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1 May
Amazon: Sales surge while spending rises
Amazon has revealed that sales rocketed 26% to $75.5bn (£60.1bn) in the first quarter of the year, with a possibility of rising 28% in the next quarter. Despite the boom in sales, net income still fell 29% to $2.5bn (£1.9bn) in the period following increased spending, with shipping costs alone…
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Apr- 2020 -30 April
Oasis and Warehouse stores closed ‘indefinitely’, 1,800 jobs lost
Over 1,800 employees at fashion retailers Oasis and Warehouse are set to be made redundant after administrators failed to find a new buyer for the retailers. The fashion brands have now been sold to Hilco, a restructuring firm and former owner of HMV. Whilst Hilco agreed to buy the retailer’s…
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30 April
Covid-19: 70% of shopworkers are experiencing anxiety, says Udsaw
Shopworkers trade union Usdaw has released statistics revealing 70% of shop workers are experiencing anxiety and have raised concerns with their employers amid the Covid-19 crisis. The statistics revealed that 39% of the 7,357 members surveyed, primarily essential workers in shops, distribution warehouses, road transport or work as delivery drivers…
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30 April
BRC appoints Tony DeNunzio as new chairman
Tony DeNunzio CBE has been appointed as chairman elect of the British Retail Consortium (BRC). He will succeed Richard Pennycook whose tenure comes to an end on 20 May 2020. DeNunzio has over 25 years’ experience in the retail industry both in the UK and internationally. His experience covers the…
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30 April
Next and Dixons urge government for furlough clarity
Retailers Next and Dixons Carphone have called on the UK Government to clarify the exit strategy for its furlough scheme. According to The Telegraph, bosses at the firms are concerned that a quick shutdown could lead to a high level of redundancies before they can fully resume regular operations. Currently…
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30 April
Sainsbury’s to face £500m profit hit
Sainsbury’s has warned that its annual profits could take a £500m hit as a result of the ongoing pandemic, despite a recent rise in grocery sales. The supermarket giant said the profit impact was due to “significant costs” in light of the nationwide lockdown, such as weaker sales fuel, clothing…
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30 April
M&S announces appointment of two non-executive directors
Marks and Spencer has announced the appointment of Tamara Ingram and Sapna Sood as non-executive directors, effective 21 May. Ingram joins from a longstanding leadership career in advertising, marketing and digital communications having held leadership roles at WPP since 2002, including setting up the consumer insight division. Prior to M&S,…
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29 April
Online sales reach 10% of all UK grocery spend amid Covid-19 lockdown
The share of all grocery sales made online reached 10% in the last four weeks ending 18 April 2020, according to new data from Nielsen. According to the data benchmarking firm, this is a rise from the 7.5% total recorded at the end of 2019, as UK shoppers opted to…
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29 April
Shop prices fall 1.7% as non-food items suffer
Shop Prices fell by 1.7% in April, compared with the 0.8% decrease seen in March, making it the highest rate of decline since January 2017 according to the BRC-Nielsen Shop Price Index. Non-food prices fell sharply by 3.7% in April compared to a decline of 1.9% in March. This is…
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