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 -17 September
French Connection losses narrow in H1
Fashion retailer French Connection has reported a reduction in its pre-tax losses for the six month period to 31 July 2019. Pre-tax losses were at £4.7 million during the period, compared with losses of £15.1 million for the same period last year. Group revenue decreased by 12.2% to £51m, as…
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16 September
Council investments in shopping centres to top £1bn
Local councils are set to spend £1bn on buying shopping centres by the end of 2020, in a bid to redevelop town centres “depressed” by a wave of store closures. Research from retail property organisation Revo and property and regeneration advisors Lambert Smith Hampton (LSH) has found that local authorities…
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16 September
Aldi posts ‘record’ full-year results
Supermarket retailer Aldi has reported an 11% increase in sales to £11.3bn for the financial year ending December 2018. The sales increase amounts to more than £1.1bn of additional revenue and the grocer said the growth was fuelled by over 800,000 more customers shopping with Aldi. It currently operates over…
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16 September
Clintons calls in KPMG as it mulls over potential sale
Greetings card retailer Clintons has called in advisers from KPMG as its owners explore a potential sale of the business. According to Sky News, its US-based parent company American Greetings is considering a sale just seven years after it acquired the company and forced it into administration. The ‘Big Four’…
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16 September
Schuh to seek rental reductions
Footwear retailer Schuh has become the latest retailer to ask landlords for rent reductions across its retail estate, after it reportedly hired a consultant to explore money saving options. According to reports from The Times, the brand has brought in retail property consultants from Capa, to carry out a full…
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13 September
A&B Pawnbrokers and Herbert Brown shutters UK stores
Albemarle & Bond Pawnbrokers (A&B Pawnbrokers) and Herbert Brown have shuttered stores across the country, in a sudden move that has left customers in the dark over the whereabouts of items pawned with the businesses. In a statement on its website, the pawnbrokers apologised for “any inconvenience that may be…
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13 September
Sainsbury’s to halve plastic packaging by 2025
Sainsbury’s has announced a new commitment to reduce plastic packaging by 50% by 2025. This new target includes all branded food packaging, Sainsbury’s brand food packaging and packaging across all of its operations. The ‘Big Four’ gorcer currently uses almost 120,000 tonnes of plastic packaging per year and believes a…
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13 September
M&S partners with infarm to bring urban farming to London stores
M&S Food has announced a new partnership with Infarm – the urban farming platform – to deliver a range of fresh produce grown and harvested in a selection of M&S’ London stores. Thanks to the partnership customers can now find a range of fresh herbs – including Italian, Greek and…
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12 September
91% of Sports Direct shareholders re-elect Mike Ashley
Over 90% of Sports Direct’s shareholders have voted in favour of founder Mike Ashley’s re-election as a director of the company. A statement from the group’s AGM on Wednesday (11 September) said that 90.99% of votes cast were in favour of re-electing Ashley, with just over 9% voting against it. …
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12 September
John Lewis warns of no-deal Brexit amid £26m loss
John Lewis Partnership has reported a loss of £25.9m for the first half of the year, warning that a no-deal Brexit may lead to “significant” impact it may not be able to mitigate. For the half-year period ending 27 July 2019, the department store chain revealed that revenues slipped by…
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