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.
-
Aug- 2019 -5 August
Tesco announces 4,500 job cuts across its Metro stores
‘Big Four’ grocer Tesco has announced it is to cut 4,500 jobs from its Metro stores across the UK. The job cuts come as part of the supermarket’s plans to “simplify and reduce processes and administrative tasks” across all of its 153 Metro stores. The company said the format was…
Read More » -
5 August
Mike Ashley to rival Philip Day in Jack Wills takeover bid
Sport Direct owner Mike Ashley and Edinburgh Woollen Mill (EWM) owner Philip Day are the final bidders for fashion retailer Jack Wills, according to Sky News. It was first reported last month that the brands owner BlueGem was looking for a buyer for the retailer, with Marquee Brands, Johan Eliasch…
Read More » -
5 August
Lovehoney names Sarah Warby as new CEO
Sexual wellbeing brand and online retailer Lovehoney has appointed ex-Sainsbury’s and Heineken marketing director Sarah Warby as its new CEO. Lovehoney, which was founded by journalist Richard Longhurst and DJ Neal Slateford in 2002, has grown revenues to more than £100m. Warby will lead Lovehoney on its next phase of…
Read More » -
5 August
M&S strategy director to lead Ocado Retail following deal completion
Ocado has completed the 50% sale of its Ocado Retail business to Marks and Spencer and has announced the appointment of Melanie Smith to lead the joint venture. Smith, currently the strategy director at Marks and Spencer, will become the CEO of Ocado Retail Limited and will be joined by…
Read More » -
5 August
Asda staff to protest over ‘punitive’ contracts
Workers at Asda are set to protest over new contracts which have been deemed as “punitive” by trade union GMB Union. The Union, who represent the supermarket employees, has arranged a protest which will take place in Leeds on 14 August against the contract six proposals. The contract will see…
Read More » -
2 August
Pets at Home revenues jump 9.9% in first quarter results
Pet goods retailer Pets at Home has reported a 9.9% increase in group revenue to £303.4m for the 16 week period from 29 March to 18 July 2019. Retail revenue was up 8.7% to £266.4m and omnichannel revenue increased by 36% to £26m – with vet group revenue also up…
Read More » -
2 August
US investment firm acquires Majestic Wine in £100m deal
Majestic Wine has entered into an agreement to sell its commercial and retail business to CF Bacchus Holdings Limited, a vehicle controlled by funds managed by Fortress Investment Group, in a deal worth around £95m. A separate sale of one freehold property previously owned by MWWL to an independent third…
Read More » -
1 August
Westfield’s UK net rental income down 3.1% amid Brexit ‘uncertainty’
Shopping centre giant Westfield has reported a 3.1% decrease in net rental income for its UK operations, covering the half year period ending 31 July. In the trade update, the landlord conglomerate said vacancy stood at 8.7%, primarily driven by some non-renewals,the impact of retailer bankruptcies, and the delays in…
Read More » -
1 August
Zalando raises profit forecast amid ‘strongest ever’ Q2
Online retailer Zalando has raised its profit outlook for the second half of the year after it recorded its “strongest ever” Q2 for active customer growth. The company revealed its number of active customers “grew significantly” by 3.7 million (15.2%) year-over-year to 28.3 million across its 17 European markets. In…
Read More » -
Jul- 2019 -31 July
Intu reports 7% drop in rental income amid ‘challenging’ first half
Shopping centre owner Intu has reported a 7.7% decrease in net rental income during a “challenging” first half of the year and said it expects a similar result for the rest of 2019. During the first six months of the year ending 30 June its rental income fell to £205.2m…
Read More »
