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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Dec- 2019 -17 December
Mike Ashley warns of more House of Fraser closures
Despite experiencing the first “green shoots of recovery” further House of Fraser store closures are to be expected, Mike Ashley has warned. Commenting on the company’s latest half-year results, Ashley said Sports Direct is doing “as much as we can” to save as many jobs and stores as possible however…
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17 December
Ted Baker appoints ex-Sports Direct CFO as non-executive director
Ted Baker has appointed Jon Kempster as an independent non-executive director effective immediately. Kempster has previously held board positions at Sports Direct, where he served as chief financial officer. He has also held senior positions at Delta, Fii Group, Linden and Low and Bonar. Kempster also held the position as…
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17 December
Footfall slows after Black Friday boost
Footfall across UK retail destinations dropped by 0.9% post Black Friday, according to the latest retail figures from Springboard. In the week between 8 December and 14 December, footfall faced an annual decline of 5%, in line with the “lull” in trading that Springboard anticipated for the period. These latest…
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16 December
Sports Direct profits soar in half-year results
Shares in Sports Direct jumped more than 16% to 418p in early trading today, after the retailer announced a 160% increase in profits to £193.4m in its half-year financial report. The sports fashion retailer said the profit growth was largely due to “improved” underlying EBITDA, which increased by 21.8% to…
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16 December
Studio profits slump amid PPI claims
Online retailer Studio has recorded a ‘flat’ revenue of £228.1m in its half-year results ended 27 September. Whilst adjusted profit before tax rose by 12% to £13m, profit from continuing operations plunged by 83% to £2.6m. PPI claims of £7.9m impacted its profits from continuing operations, which were reported at…
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16 December
The Hut Group completes €1bn capital raising
The Hut Group has announced a €1bn (£830m) raise in capital in order to deliver a “step- change” to its balance sheet ahead of “anticipated macro-economic” and “political changes arising from the general election and Brexit”. The health and beauty platform has revealed BlackRock, a long term investor in The…
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13 December
The election is over – time for the Tories to deliver for small businesses
It now looks as though political stasis and all the damage that does to business will be lifted in 2020. Boris Johnson’s victory in the election is the Tories’ strongest since the Thatcher era, and gives him great scope to implement bold policies. At this juncture it’s worth taking a…
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13 December
Record numbers hit local high streets for Small Business Saturday
A record number of attendees showed their support for the UK’s seventh annual Small Business Saturday last weekend (7 December 2019). 17.6m customers shopped on their local high streets to show support for the 5.8 million small and independent businesses across the UK. It was estimated that £800m was spent…
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13 December
Sainsbury’s mulls offers for £1.9bn mortgage book
Big Four grocer Sainsbury’s is reportedly fielding bids for a takeover of its £1.9bn mortgage book, as part of an overhaul of Sainsbury’s Bank. According to a report by Sky News, the retailer has already received a number of offers, including bids from Lloyds Banking Group. Bankers at BNP Paribas…
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13 December
New Look appoints Nigel Oddy as new CEO
High street retailer New Look has appointed Nigel Oddy as its new chief executive officer. Oddy joined the retailer in April and held the role of its chief operating officer. He was also the chief executive of House of Fraser, having spent seven years at the department store holding various…
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