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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Jan- 2020 -23 January
Asos sees 20% increase in group revenues
Online retailer Asos has reported a 20% increase in group revenues to £1.6bn, attributed to a “record” Black Friday and “strong” customer engagement activity. During the four month period ending 31 December 2019, Asos also saw its total retail sales increase by 20% to £1.7bn compared with £895m the previous…
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22 January
Pets at Home revenues jump in Q3 results
Pets at Home has reported a 7.9% increase in group total revenues to £255.9m in its third-quarter results. The pet retailer said this was driven by “record-breaking” retail performance during the period, including its “biggest ever” online and offline trading days. It also launched a further nine new format pet…
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22 January
Full value of Ted Baker accounting blunder revealed to be £58m
Fashion retailer Ted Baker has revealed that an accounting overstatement – thought to originally amount to between £20m-£25 – is actually almost three times higher at £58m. In December last year, Ted Baker appointed ‘Big Four’ accountancy firm Deloitte to undertake a comprehensive review of its stock inventory position. In…
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22 January
WH Smith travel division drives revenue growth
WH Smith has announced it delivered a “good performance” over the Christmas trading period, with total revenue up 7% for the 20 weeks ended 18 January. Total revenue was also up 19% in the group’s travel business, with like-for-like revenue up 3%. The retailer said its UK travel arm saw…
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22 January
Sainsbury’s CEO Mike Coupe to retire after six years
Sainsbury’s has announced its CEO Mike Coupe is set to retire this year, after almost six years in the role. He will continue his role as CEO until the end of May and will be succeeded by retail and operations director Simon Roberts, who will start his new role from…
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21 January
Dixons Carphone Christmas trading dragged down by mobile
Dixons Carphone’s trading results for the 10-week period ended 4 January 2020 has been dragged down by a 9% slump in mobile like-for-like revenue. Despite this, the retailer saw group revenue increase by 2%. Like-for-like revenue in electricals also increased by 2% in the UK and Ireland, driven by strong…
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21 January
The Dune Group CEO James Cox announces departure
The Dune Group’s CEO, James Cox, is set to depart from the shoe retailer on 9 March, after more than a decade with the company. According to Drapers, Cox will remain on the board as a non-executive director, while executive chairman and founder Daniel Rubin will take over as chief…
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21 January
Aldi hikes minimum wage
Aldi has announced it will implement “market leading” pay rates for its store colleagues. All employees will earn a minimum hourly rate of £9.40 nationally and £10.90 inside the M25, increasing from £9.10 and £10.55 respectively. The new rates, which exceed the Living Wage Foundation’s recommended rates, will be effective…
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21 January
Joules revenues hit by late Black Friday
Fashion retailer Joules has reported a 1.4% decrease in group revenue to £111.6m for the half-year period ended 24 November 2019. The group said the results were impacted by the timing of Black Friday, which fell in the second half of FY20, but the first half of the financial year…
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20 January
Gordon Brown to receive nearly £1m following Links of London collapse
Restructuring firm Gordon Brown is set to receive a near £1m payout after it helped to close down British jewellery brand Links of London. According to a report by the Telegraph on Sunday, the firm assisted by selling “leftover” earrings, bracelets and necklaces. It also helped to shut the retailers…
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