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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Apr- 2020 -16 April
Chancellor extends furlough scheme deadline
Chancellor Rishi Sunak has extended the deadline for the Coronavirus Job Retention Scheme after it was found that many people who had recently changed jobs were set to miss out. Under the scheme announced last month, employers can claim a grant covering 80% of the wages for a furloughed employee,…
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16 April
Zalando adds initiatives to support fashion brands despite Q1 loss
Zalando has revealed a series of new initiatives to help support its fashion brands during the current coronavirus pandemic, despite it expecting to post a first quarter loss. In a trading update for the first three months of the year, the company said it expects an adjusted EBIT in a…
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16 April
Retail sales decline at ‘worst rate on record’
Retail sales suffered the “worst decline recorded” in March, with a year-on-year total sales decline of 4.3%. The findings come from the latest BRC-KPMG Retail Sales Monitor, which said this is the lowest recorded rate since the monitor first began in January 1995. Its data showed that sales “contrasted sharply”…
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16 April
Dunelm CEO takes 90% pay cut as company seeks coronavirus loan
Homeware retailer Dunelm has announced its CEO, Nick Wilkinson, has taken a 90% pay cut as it confirmed it is eligible for a coronavirus loan. Dunelm also announced that the executive management team has also taken a 20% pay reduction with its chairman and non-executive directors waiving 100% of their…
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15 April
Oasis and Warehouse collapse into administration
Fashion retailers Oasis and Warehouse have entered administration, putting over 2,000 jobs at risk. Rob Harding and Richard Hawes, restructuring partners at ‘Big Four’ accountancy firm Deloitte, have been appointed as joint administrators to Oasis and Warehouse Limited, Oasis Fashions Limited, Warehouse Fashions Limited, The Idle Man Limited and Bastyan…
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15 April
HMRC adds new guidance on Coronavirus Job Retention Scheme
HMRC has issued new guidance regarding the Coronavirus Job Retention scheme and clarifies eligibility for those returning from sick leave and TUPE staff. Issued at the end of last week the third update to the scheme has provided clarification on all aspects of sick leave including those returning from maternity…
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15 April
Covid-19 could cause UK economy to shrink by 35%, says OBR
The UK’s economy could shrink by as much as 35% in the second quarter of 2020 due to the Covid-19 pandemic, the Office for Budget Responsibility (OBR) has said. The watchdog is also predicting a 13% drop in annual GDP as a result of the outbreak, which it said would…
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15 April
Morrisons offers NHS staff 10% discount for 12 weeks amid Covid-19 crisis
‘Big 4’ grocer Morrisons has announced a 10% discount on shopping for all NHS staff for 12 weeks to support them through the coronavirus pandemic. The discount comes into effect from Thursday this week (16 April) and will last until 12 June, when it will be reviewed. The supermarket said…
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15 April
Quiz reopens online operations
British Fashion retailer Quiz has revealed it has reopened its online operations after it added “additional safety measures” to keep its employees safe. Quiz stores have been closed since the 22 March with its online operations also closing a couple of days later. However, it has now taken the decision…
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15 April
Retail footfall freefalls 83% over Easter weekend
Footfall across UK retail bricks-and-mortar destinations was 83.1% lower than Easter weekend last year and 14.5% lower than over the same four days in the previous week, according to the latest data from Springboard. The data and intelligence group said that the findings show the public adhered to government lockdown…
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