News
The latest news, updates and analysis on the the UK retail industry. Covering every segment of the market, Retail Sector’s business journalists keep you in the picture.
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Oct- 2019 -23 October
UK retailers store profit margins halved since 2011, study finds
A new report by global professional services firm Alvarez and Marsal, in partnership with Retail Economics, has shown that store-based profit margins for the top 150 UK retailers have more than halved in less than a decade, dropping from 8.8% in 2009/10 to 4.1% in 2017/18. “Ballooning” operation costs have…
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22 October
Wilko strikes called off after staff accept ‘improved’ work rota
Strike action by GMB members at Wilko have been called off after staff accepted a new deal offered by the company. Around 1,800 GMB members at two Wilko distribution centres – in Magor, Wales and Worksop, Nottinghamshire – were due to walk out on 21 and 22 October over “forced”…
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22 October
Wickes helps boost Travis Perkins Q3 sales by 3.8%
DIY retailer Travis Perkins has reported a 3.8% increase in Q3 sales boosted in part by a “strong performance” from its Wickes brand. For the three month period ending 30 September 2019, Travis Perkins saw like-for-like sales increase by 3.4%, with its Toolstation brand recording total sales growth of 21.3%…
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22 October
Consumer confidence drops in Q3 amid continued Brexit uncertainty
The Deloitte consumer confidence index fell to -9% in Q3 2019, one point lower than in the previous quarter and two points lower compared to the same period a year ago. Confidence is now at a level last seen in Q4 2018 and below the Deloitte Consumer Tracker’s long-running average.…
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22 October
Tommy Hilfiger appoints Michael Scheiner as CMO
Tommy Hilfiger has appointed Michael Scheiner as its new chief marketing officer (CMO), effective October 28. With over 15 years of experience at global brands, he joins the brand from Hollister.Co., where he served as senior vice president of global marketing. He has also previously worked for brands such as…
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21 October
Sports Direct acquires Brookfield Shopping Park for £25m
Sports Direct has acquired Brookfield Shopping Park, a 93,000 sq ft Shopping Park in Cheshunt, Hertfordshire for £25.4m. According to the retailer, the shopping park is set to receive “significant” investments, which will include a total modernisation of the exterior of the all store facias. Plans also include new leisure,…
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21 October
The Entertainer reports 29% increase in profits to £14.7m
Toy retailer The Entertainer has defied the high-street gloom and reported a 29% increase in pre-tax profits to £14.7m. According to The Sunday Times, the profit increase was attributed to an increase in sales to £204.4m, up from £37.3m the previous. The Entertainer was founded by husband-and-wife team Gary and…
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21 October
Matalan strike suspended after bosses offer new pay deal
A long-running Matalan strike has been called off after bosses made GMB members a new pay offer. More than 500 workers at Matalan’s Northern Distribution Centre based in Knowsley, Merseyside, had been on strike after management made a pay offer which GMB said amounted to a “real terms pay cut”.…
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21 October
Bonmarché enters administration putting 2,900 jobs at risk
Womenswear retailer Bonmarché has entered administration, resulting in around 2,900 jobs being placed at risk including 200 at its head office. With 318 branches located around the UK, Bonmarché appointed FRP Advisory as administrators who said the brand had a “sustained period of challenging trading conditions.” Alastair Massey, Tony Wright…
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18 October
M&S to open 60,000 sq ft store in Nottingham near year
Marks and Spencer will open a new 60,000 sq ft store at British Land’s Giltbrook Retail Park, Nottingham, in the summer of 2020. The announcement comes less than two weeks before M&S opens a major new store in Cornwall – it’s first clothing store opening in the South West for…
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