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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Sep- 2019 -19 September
Hammerson’s Grand Central New Street Mall to receive £2m refurb
Hammerson is planning a £2m upgrade to its Birmingham New Street Mall, as part of a phased project which will include “significant internal upgrades”. The refurbishment will also see a more “vibrant and engaging” entrance to its flagship destination. The first phase of the project will be delivered in October,…
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19 September
CMA extends inquiry into JD Sports’ acquisition of Footasylum
The Competition and Markets Authority (CMA) has extended its inquiry into JD Sports’ acquisition of Footasylum, with the regulator warning it could lead to a “worse deal for customers”. The CMA report noted concerns that the loss of competition brought about by the merger could result in “higher prices, worse…
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19 September
Retail sales see ‘modest’ growth in August
Retail sales grew by a “modest” 2.9% in August compared with the same month last year, according to the Office for National Statistics (ONS). The year-on-year growth rate shows that the quantity bought in August 2019 increased by 2.7%, which the ONS said is a “slowdown” compared with the stronger…
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18 September
Sports Direct to ‘ignore’ deadline in hunt for new auditor
Sports Direct is still searching for a new auditor, amid reports that it could be forced to consult the government for guidance. The retail brand’s auditor Grant Thornton officially resigned after nine years, at the company’s AGM last week (11 September) following a £605m tax bill from Belgian authorities. Shareholder…
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18 September
Kingfisher sales slip in H1 results
DIY retailer Kingfisher has reported a 0.9% decrease in total sales for the six months ended 31 July 2019. Retail profit was down 4.4% in constant currency, which it said was “largely driven” by its French operations, and statutory pre-tax profit dropped by 12.5%, after exceptional items. B&Q’s total sales…
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18 September
Vodafone extends franchise operation with 24 new high streets stores
Vodafone is set to take on at least 24 empty premises by the end of this year and fit them out as new retail stores as part of its franchise programme. Vodafone is continuing its ongoing investment in its retail presence to “help customers get the most from its new…
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18 September
Argent appoints new retail lead for King’s Cross centre
Shopping centre developer Argent, has appointed a James Rayner as it new retail lead for its flagship project, King’s Cross centre. Rayner, formerly Leasing Executive at Capital and Regional, will bring 20 years’ experience in managing and advising on retail assets to the Argent asset team when he joins in…
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17 September
Asda FY sales and profits rise despite merger disappointment
Asda has reported an increase in both full-year sales and profits during the period it was the focus of an unsuccessful merger with rival Sainsbury’s. The accounts for Asda Group Limited, filed on Companies House, which includes the financial activities of all Asda stores, distribution centres and online operations show…
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17 September
One in 20 workers not receiving holiday pay, research reveals
Around one in 20 workers in the UK are not receiving any holiday entitlement, according to a recent study by think tank the Resolution Foundation. The report found that 4% of workers in the wholesale, retail and motor services sector say they have no paid holiday entitlement, amounting to approximately…
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17 September
Late August bank holiday heatwave lifts grocery sales
The late August bank holiday heatwave lifted total supermarket sales to +2.2% in the last four weeks, according to Nielsen’s Total Till figures for September 2019. The analytics company said the UK faced a wet start to the summer, but unusually hot weather over the long Bank Holiday weekend led…
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