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.
-
Jul- 2019 -4 July
Monsoon creditors agree to CVA
Monsoon Accessorize creditors have given the green light on the retailer’s CVA plans which will see over half of its stores receive rent reductions. The reductions, which were proposed last month, will see cuts to rents of between 25%- 65% across 135 out of its 258 stores after the retailer…
Read More » -
4 July
The Works FY19 revenues jump 13.2%
Stationery retailer The Works has reported a 13.2% increase in revenues in its preliminary results for the 52 weeks ended 28 April 2019. The retailer posted positive like-for-like growth of 3% during the period, driven by growth both in stores and online, and adjusted EBITDA increased by 4.2% to £13.8m.…
Read More » -
4 July
Superdry appoints former John Lewis and New Look CFOs
Fashion retailer Superdry has appointed Helen Weir and Alastair Miller to its board as non-executive directors, taking the role of senior independent director and chair of the audit committee respectively. Weir was most recently CFO of Marks and Spencer, a role she held from 2015 to 2018. Prior to this…
Read More » -
4 July
Primark like-for-like sales hit by ‘unseasonable’ May weather
Sales at Primark in the year-to-date were 4% ahead of last year, driven by an increased store portfolio, however this was partially offset by a decline in like-for-like sales. The budget retailer’s parent company AB Foods said its sales were “held back by unseasonable weather in May” but said it…
Read More » -
3 July
Sainsbury’s Q1 sales fall as non-food sales struggle
Sainsbury’s has announced another tough quarter of trading as it revealed a 1.2% fall in total sales during Q1. During the 16 week period ending 29 June Sainsbury’s like-for-like sales also fell by 1.6% as its attempt to reduce the prices of more than 1,000 “big selling” own-brand products did…
Read More » -
3 July
Sports Direct retail chief leaves after 28 years
Sports Direct’s head of retail operations, Karen Byers, is stepping down from her position with immediate effect after 28 years, the Press Association has reported. Byers joined Sports Direct soon after it was founded by Mike Ashley, and has been described by him as the person who “runs Sports Direct”.…
Read More » -
3 July
Amazon to create over 2,000 more UK jobs
Online retailer Amazon has announced that it will create 2,000 new jobs in the UK in 2019, which will take its total permanent workforce to more than 29,500 by the end of the year. The company has now invested £9.3bn in its UK operations since 2010. The roles available range…
Read More » -
2 July
Office appoints advisers amid CVA rumours
Footwear retailer Office has appointed advisers as it considers a potential restructuring of the business. According to Sky News, Office has appointed advisory firm Alvarez & Marsal (A&M) to help plan for a possible Company Voluntary Agreement (CVA) that could see the closure of around 100 UK stores. However sources…
Read More » -
2 July
Hammerson appoints UK and Ireland operations director
Shopping centre owner Hammerson has appointed Howard Ebison as its new operations director. Ebison will drive the operational performance of its flagship destinations across the UK and Ireland, overseeing the delivery of “excellent” consumer experiences, and creating “commercially compelling” venues for Hammerson’s brand partners. According to the group, he has…
Read More » -
2 July
Lendlease to launch retail development at Elephant Park
Project management company Lendlease has announced plans for a retail and restaurant development at Elephant Park in south London. The 16 units total 37,000 sq ft and are in two areas, Ash Avenue and New Kent Road and Chatteris Quarter. Ash Avenue will focus mainly on restaurants, backing onto a…
Read More »
