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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Aug- 2019 -8 August
Intu submits plans for £168m face-lift at Lakeside centre
Shopping centre operator Intu has submitted plans to Thurrock Council for a £168m development of its Lakeside centre. The proposal will look to extend the centre north and eastwards creating around 40,000 sqm of retail space, with plans for a new department store and floorspace for shops, cafés and restaurants.…
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8 August
Debenhams names new CEO as chairman Duddy steps down
Debenhams has announced the appointment of Stefaan Vansteenkiste as its new CEO and has also revealed its chairman Terry Duddy is to step down from his role. Vansteenkiste joined Debenhams in April 2019 as chief restructuring officer and has been working closely with the executive team on a new business…
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7 August
Boots to trial in-store interpretation service
Health and beauty retailer Boots is trialing an interpretation service for non-English speaking pharmacy patients, starting in five stores across the UK. The service is being provided by US firm Voyce, with the service being accessible via in-store iPads. Voyce connects colleagues and patients with interpreters who can translate over…
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7 August
Boohoo acquires Karen Millen and Coast putting 1,100 jobs at risk
Online fashion retailer Boohoo has acquired British brands Karen Millen and Coast, which were recently put up for sale by their owner Icelandic bank, Kaupthing. The group has acquired only the online business and all associated intellectual property rights from the administrators of Karen Millen Fashions Limited and Karen Millen…
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7 August
Victoria’s Secret CMO Ed Razek to step down
Ed Razek, Victoria’s Secret owner L Brands’ chief marketing officer, has resigned from his position within the company. According to CNBC Razek, who has been with the company since the 1980s, reportedly revealed to L Brands CEO Les Wexner that he wanted to step down earlier last month and his…
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7 August
Sports Direct is not a business ‘in crisis’, claims exec
Sports Direct’s head of elevation, Michael Murray, has moved to quash rumours that Sports Direct was in “crisis” in an interview with Sky News, following the purchase of Jack Wills. The retail group posted a profit drop of 9% last year following the acquisition of House of Fraser, which owner…
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6 August
Boohoo confirms offer for Karen Millen and Coast
Online retailer Boohoo has confirmed it has made an offer to acquire the online business of British brands Karen Millen and Coast, together with all associated intellectual property rights. The group believes that the online business of these brands would represent “highly complementary” additions to its scalable multi-brand platform and…
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6 August
Hammerson appoints new Premium Outlets MD
Shopping centre owner Hammerson has appointed Simon Travis to the role of group investment director managing director of Premium Outlets. In this new position, Travis will oversee Hammerson’s premium outlets division in addition to his existing investment responsibilities. He has spent over 20 years at the group, and has held…
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6 August
July consumer spending hits record low
UK consumer spending in the month of July fell to a record low despite the good weather, according to the latest statistics from the British Retail Consortium (BRC) and KPMG. On a total basis, sales increased by 0.3% in July, against an increase of 1.6% the previous year, it is…
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6 August
Sports Direct acquires Jack Wills in pre-pack deal
Mike Ashley’s Sports Direct has acquired fashion retailer Jack Wills from administration, after administrators KPMG accepted the £12.75m offer tabled by the sports retail group. Jack Wills currently has 100 stores in the UK, employing around 1,800 people, with all properties and distribution centres to be transferred to Sports Direct…
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