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 -3 April
Fenwicks CEO and non-executive chair to exit
Department store chain Fenwicks has announced that its CEO and non-executive chair are to exit the company. Robbie Feather will step down as chief executive and be succeeded by John Edgar, an “experienced” retail executive who spent periods as chief financial officer of both Selfridges and Harrods. Most recently Edgar…
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3 April
Chancellor unveils new measures to SME loan scheme
Chancellor of the exchequer Rishi Sunak has unveiled a major overhaul to his previously announced SME loan scheme. Initially, the Coronavirus Business Interruption Loan Scheme (CBILS) was aimed at businesses unable to secure regular commercial financing as the virus took its toll on the UK’s economy. However, according to Sky…
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3 April
Arcadia bosses to face 50% pay cuts as 14,500 staff furloughed
Philip Green’s Arcadia Group has announced it has placed 14,500 members of staff on government furlough and has revealed its executive team will take a salary reduction of up to 50%. The group, which closed its stores around two weeks ago, said it “remains unclear” how long these closures will…
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3 April
Boots reports 18% decrease in operating income amid Covid-19 virus outbreak
Health and beauty retailer Boots has reported a 18.7% decrease in operating income to $1.2bn (£973m) as a result of the Covid-19 virus pandemic. In its six months to 29 February, Boots reported its sales increased by 3.7% to $35.8bn (£29.1bn), as operating income decreased by 12% to $1.7bn (£1.38bn).…
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3 April
Primark execs take 50% pay cut
Primark bosses have revealed that they will slash their pay in half in light of the ongoing coronavirus crisis. George Weston, chief executive of parent group Associated British Foods, and finance director John Bason have both requested that their base pay be reduced by 50% on a temporary basis. Paul…
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2 April
Coronavirus changing UK’s shopping habits, survey reveals
A new weekly survey has revealed how UK consumers’ relationships with a range of sectors is “changing” as a result of the coronavirus pandemic. The Coronavirus UK Consumer Tracker from research firm Rare analysed in-store and online purchasing behaviour in the retail, grocery, DIY, beauty, entertainment and alcohol sectors. Compiled…
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2 April
Chancellor set to announce overhaul to SME loan scheme
Chancellor Rishi Sunak is reportedly set to announce an overhaul to the SME loan scheme that will allow companies to access help quicker. According to Sky News, Sunak and members of the Treasury were reportedly in talks with major lenders, including Barclays, HSBC, Lloyds Banking Group and Royal Bank of…
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2 April
Covid-19: Tesco to provide £30m package to support local communities
Tesco has announced plans to provide a £30m package of support for local communities tackling Covid-19, including a £25m food donations programme. The ‘Big Four’ grocer is currently donating £3m of food every month through its Community Food Connection scheme and distribution centres. In addition to that, over the next…
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2 April
Frasers Group to cut bosses’ salary to £40k amid April pay pledge
Mike Ashley’s Frasers Group has reportedly reduced the salary of its executive team to £40,000 and has pledged to pay all his staff up until the end of April. According to The Times, the executive team has taken a voluntary pay cut in a “show of support towards securing the…
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2 April
Pets at Home to beat guidance amid spiked demand
Pets at Home has revealed that its closing weeks of full-year trading saw “exceptional levels of demand” amid the ongoing coronavirus pandemic. In the period ended 26 March 2020, existing customers increased their average basket size, whilst new customers have accessed its pet products and healthcare services. Trading was largely…
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