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 -6 March
Lego outperforms wider toy market, confirms plans for 150 new stores
Toy giant Lego has defied the wider toy market by recording a “strong” sales and profit performance while also confirming plans to open a further 150 physical stores in 2020. For the full-year ending December 2019, The Lego Group announced that revenues increased by 6% to DKK38.5bn (£4.4bn). Consumer sales…
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6 March
CMA urges retailers to ‘behave responsibly’ amid Coronavirus panic
The Competition and Markets Authority (CMA) has urged retailers to not “take advantage of people” and “exploit” the current Coronavirus situation. It said it will consider any evidence that companies have “broken competition or consumer protection law” by hiking prices or making misleading claims about protective equipment. The CMA will…
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6 March
Hugo Boss appoints Heiko Schäfer as COO
Fashion retailer Hugo Boss has announced the appointment of Heiko Schäfer as its chief operating officer (COO). As COO he will be responsible for the brands global product development and sourcing, own manufacturing, operations and sustainability and quality management. Schäfer launched his career in 2002 at Boston Consulting Group, where…
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5 March
John Lewis profits plummet 23% in full-year results
The John Lewis Partnership saw profits plummet by 23% to £123m for the year ended 25 January 2020, resulting in the lowest staff bonus seen in 67 years at only 2%. The group said the performance was “weaker” than it had hoped for, driven by “significantly reduced profitability” in John…
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5 March
H&M launches global supply chain initiative
H&M announced it will be launching a new initiative to provide other retailers access to its global supply chain, in what it says is a bid to “accelerate sustainable change”. The initiative, entitled Treadler, will begin to offer access to its global supply chain as a service to external companies…
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5 March
Tesco launches campaign to match prices with Aldi
‘Big 4’ grocer Tesco has announced it will start to match prices with discount supermarket Aldi on hundreds of grocery items. Tesco is decreasing the prices of its own-label and branded products in a bid to attract more customers into its stores. The Aldi Price Match campaign will see a…
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4 March
H&M to shutter Stoke-on-Trent warehouse placing 500 jobs at risk
H&M is reportedly set to close its warehouse in Stoke-on-Trent with plans to relocate its distribution to a new site. According to the BBC, the move may place around 500 jobs at risk after XPO Logistics, which runs the Stoke warehouse confirmed the clothing retailer plans to open a new…
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4 March
Travis Perkins revenues rise in full-year results
Travis Perkins has reported a 3.2% increase in revenues for the year ended 31 December 2019. The buildings and home improvements retailer also saw adjusted operating profit growth of 7.8%, driven by an improved performance at Wickes. Wickes, which is owned by Travis Perkins, demonstrated a “strong recovery” in performance…
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4 March
Dixons Carphone appoints two new members to its executive team
Dixons Carphone has strengthened its executive team by appointing a former John Lewis Partnership exec to the role of CCO while also adding a new COO. Ed Connolly has taken up the role of chief commercial officer after previously holding a number of roles across commercial and strategy at the…
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4 March
Intu abandons £1bn equity raise plans
Intu revealed it has abandoned plans to raise between £1bn and £1.5bn in emergency cash, citing “current uncertainty” in the equity markets. The retail property group had previously announced it was reviewing a “range” of options to fix its balance sheet and establish a “more appropriate” long-term capital structure. In…
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