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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Mar- 2020 -23 March
N Brown reveals measures to mitigate ‘sudden reduction’ in demand
N Brown Group has revealed a series of measures it has undertaken to help mitigate the “significant and sudden reduction” in demand it has experienced amid the coronavirus outbreak. In a trading update this morning (23 March), the group said that trading for the first two weeks of the financial…
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23 March
Beaverbrooks to close all 69 stores amid Covid-19 outbreak
UK jeweller Beaverbrooks has revealed plans to shutter all 69 of its stores by 5pm today (23 March) amid the Covid-19 outbreak. Managing director Anna Blackburn said this decision will “greatly affect” its hundreds of store colleagues, and added that supporting them is its “number one focus right now”. She…
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23 March
PM bans ‘non-essential retail’, instructs public to stay at home
The UK public are only allowed to venture out of their homes for essential supplies and one exercise outing per day, or face fines, under new measures introduced this evening by the prime minister. In a recorded address filmed in No 10 Downing Street, Boris Johnson said the police will…
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23 March
FCA asks companies to delay preliminary financial accounts
The Financial Conduct Authority (FCA) has requested companies which were due to issue its preliminary trading updates in the next few days to delay publication, amid the ongoing disruptions caused by the outbreak of the coronavirus. The FCA urged all listed companies to observe a moratorium on the publication of…
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23 March
John Lewis stores to close for first time in 155 years
John Lewis Partnership has announced the temporary closure of all John Lewis stores in light of the coronavirus pandemic. All 50 sites will cease trading today (Monday 23 March), after the “difficult decision” was confirmed by its board. It marks the first time in the group’s 155-year history that its…
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20 March
Covid-19: Government to pay 80% of salary to staff unable to work
Chancellor Sunak Rishi has said the government will pay 80% of wages to employees who aren’t able to work due to the coronavirus, up to £2,500 a month, according to the BBC. The “unprecedented measure” comes as the government has unveiled more plans to protect jobs and businesses amid the…
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20 March
Harrods to close amid coronavirus chaos
World-famous department store Harrods is to close its doors this evening (23 March) due to the coronavirus pandemic. It said the welfare of its community of colleagues, customers and partners has been its “absolute priority throughout this time of uncertainty”. As a result, it has made the “very difficult decision”…
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20 March
Frasers Group issues profit warning and drops FY20 guidance amid Covid-19
Mike Ashley’s Frasers Group has issued a profit warning after revealing its board expects Covid-19 to cause a “significant disruption” to its business. The retailer said the impact, including customer footfall, will likely mean the group “will not achieve” its previous guidance of 5-15% EBITDA growth for the year ending…
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20 March
Ikea to temporarily shutter all UK stores amid Covid-19 pandemic
Ikea UK and Ireland has said it will temporarily close its stores to customers at 6pm on Friday 20 March, as a “precautionary measure” against the ongoing risk of Covid-19. In line with recommendations from local authorities, the retailer said it had already put additional precautionary measures in place, including…
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20 March
TK Maxx closes UK stores amid Covid-19 virus outbreak
Discount store TK Maxx has become the latest retailer to take the decision to temporarily close its stores amid the recent outbreak of coronavirus. TK Maxx has announced all stores in the United States, Canada, Europe and Australia have will close for two weeks. The company has also announced it…
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