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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Feb- 2020 -12 February
Harrods security guards agree to five days of strike actions
Harrods security guards have announced a five-day strike action starting later this month in a dispute over pay. Security guards and CCTV operators at the department store, who are part of Unite the Union, voted 97% in favour of a strike action last month, after stating that they are being…
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12 February
Inter Ikea appoints new CEO
Inter Ikea has announced that Torbjörn Lööf, who has been the company’s CEO for the past seven years, is to step down from his role and will be replaced by Jon Abrahamsson Ring. To ensure a “good handover”, Ikea said Ring, who is a former assistant to Ikea founder Ingvar…
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12 February
Sainsbury’s Bank chairman departs after seven years
Roger Davis is to step down as chairman of Sainsbury’s Bank after nearly seven years in the role. Davis has been chair of the board since May 2013 after the ‘Big Four’ grocer bought 50% stake in Lloyds Banking Group for £248m. He is also chairman for Global RadioData Communications…
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11 February
Retailers suffer ‘stuttering start’ to 2020
Retailers saw a slow start to the year as total sales increased by only 0.4% in January, against an increase of 2.2% during the same period last year. According to the latest BRC-KPMG Retail Sales Monitor, this is above both the three-month and 12-month average declines of 0.4% and 0.2%…
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11 February
Administrations up 5% in 2019
The number of companies falling into administration across England and Wales increased by just under 5% in 2019, according to new analysis from KPMG. A study of notices in the London Gazette showed that a total of 1,403 companies went into administration during 2019, compared with 1,341 in the previous…
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11 February
Shoppers could ‘lose out’ in JD Footasylum merger, says CMA
The Competition and Markets Authority (CMA) has provisionally found that the proposed £90m takeover of Footasylum by sportswear rival JD Sports “could leave shoppers worse off, both in-store and online”. After its initial Phase 1 review raised potential competition concerns, the CMA’s in-depth Phase 2 investigation has provisionally found that…
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11 February
M&S appoints Eoin Tonge as new CFO
Marks and Spencer has appointed Eoin Tonge as its new chief financial officer. Tonge is currently the CFO of Greencore Group, a position he has held since 2016. Prior to this, he was the managing director of the Grocery Business for two years and was previously the chief strategy officer…
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10 February
HMRC yields £16 from small businesses for every £1 spent on staff
HMRC’s investigations into individuals and small businesses produced a yield of approximately £16 for every £1 spent on staff last year, according to research by international law firm Pinsent Masons. The firm said the “huge” return on investment in staff outweighs returns seen by other private sector businesses. Whilst HMRC’s…
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10 February
Improved UK supermarket performance sparks property investment surge
Property investors sunk £1.78bn into the UK grocery sector during 2019, with volumes up 80% year-on-year according to Colliers International’s annual UK Grocery Report. According to Colliers, the improved financial performance by the UK’s major grocery operators triggered “concerted buying of supermarket property investments”. The report also found that the…
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10 February
WH Smith seeking overhaul on rent payment to landlords
WH Smith is reportedly urging its landlords to allow the retailer to delay its rent payments as it looks to improve its cashflow. According to The Sunday Times, the newsagent chain is set to ask landlords to switch from receiving rent payments in advance – which is the current industry…
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