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.
-
Jan- 2020 -15 January
22,000 retail jobs lost in 2019 due to administrations
Almost 22,000 retail jobs were lost in 2019, according to new data from specialist finance broker firm ABC Finance. Some 1147 retail premises closed during the year, with the firm explaining that the most common causes for these closures included rising overheads such as rent on retail units, as well…
Read More » -
15 January
Moody’s downgrades M&S credit score to negative
Moody’s has downgraded Marks and Spencer’s outlook from stable to negative after it reported a 0.7% decline in revenues in its third quarter of the current financial year to £3bn. In referencing the decision Moody’s said that the “continued decline” in Marks and Spencer’s clothing and home like-for-like sales, which…
Read More » -
15 January
Very reports a 6.1% increase in revenues in the festive period
Online retailer Very has reported a 6.1% increase in revenues during the seven weeks to 27 December. The brand, which is operated by The Very Group, also reported sales growth across all four product categories, which included a 9.6% increase in sportswear, 5.7% increase in electricals, 1.4% increase in homeware…
Read More » -
15 January
Quiz sales tumble amid ‘challenging’ Christmas
Quiz suffered a “disappointing” period of Christmas sales, as group revenue fell by 9.3% over the seven week period ended 4 January 2020. The retailer said it experienced a reduction in footfall compared with the prior year, which resulted in stores and concessions revenue decreasing by 7%. The group also…
Read More » -
14 January
Games Workshop profits soar in half-year results
Games Workshop has reported a 44% increase in profits before tax to £58.6m for the six months ended 1 December 2019. This was fueled by a 27% increase in its trade operations, with “growth in all key countries”. During the period the number of trade outlets increased by c.200 accounts,…
Read More » -
14 January
DFS profits to meet expectations despite ‘challenging’ trading
Furniture retailer DFS has said it expects full-year profits to be “broadly in line” with market expectations of £50m-£53.6m, despite a “challenging” trading period which saw half-year sales decline. For the 26-week period to 29 December 2019, DFS revealed that gross sales decreased by 6% compared with the “comparatively strong”…
Read More » -
14 January
Boohoo reports ‘strong growth’ over Christmas
Boohoo has reported a period of “strong growth” across all its brands in the four months ended 31 December. Total group revenue grew by 44% to £473.7m across all geographical regions, while total UK revenue increased by 42% to £255.8m. The US division also saw revenue increase by 57% to…
Read More » -
13 January
Asda cost cuts to put 2,832 back-office jobs at risk
Nearly 3,000 Asda employees are reportedly at risk of losing their jobs, according to new reports. According to The Guardian, 2,832 back-office jobs may potentially be at risk in the latest cost-cutting move from the supermarket giant. The newspaper claims to have learned that consultations are afoot with employees in…
Read More » -
13 January
Debenhams in talks to offload executive pension scheme
Embattled department store chain Debenhams is reportedly in talks over the buyout of its executive pension scheme, which holds over £200m in assets. According to Sky News, Debenhams is closing in on a deal with insurance company Aviva that, if completed, will guarantee future benefits to members of the senior…
Read More » -
13 January
Beales set to ‘collapse’, 1,000 jobs at risk
Department store Beales warns it is on the brink of collapse, which will result in over 1000 jobs at risk unless it can find a new owner to buy the business. According to The Guardian, Beales has filed a notice of its intention to appoint administrators, as it considers its…
Read More »
