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 -13 December
Kate Spade CEO resigns
Tapestry Inc. has announced the departure of Anna Bakst, CEO and brand president of Kate Spade. Bakst will leave her position with the fashion brand at the end of the calendar year. She began her role in April 2018. Joanne Crevoiserat, Tapestry’s chief financial officer, will act as interim CEO…
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12 December
Dixons Carphone profits drop 60% in half-year results
Dixons Carphone has reported a 60% decrease in profit in its first half, following a group adjusted profit before tax of £24m compared with £60m from last year. In the year ending on 26 October, the business also reported a 1% decrease in like-for-like revenues in the UK and Ireland.…
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12 December
Ocado sees sales slow in Q4
Online supermarket Ocado has revealed that sales its sales growth had slowed slightly in Q4, coming in line with its expectations at 10.8%. For the 13-week period ending 1 December, Ocado’s revenues reached £429.1m, down from third quarter growth of 11.4%, after it was revealed that a 10.4% growth in…
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12 December
Homebase rated ‘worst’ online retailer in the UK for 2019
Homebase has been rated the worst online retailer in the UK for 2019, according to the latest Which? Annual Online Shops Survey. Shoppers complained about the retailer ignoring complaints and selling products that were actually out of stock. Which? asked more than 7,500 members to rate the most popular online…
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12 December
Superdry profits slump in half-year results
Superdry saw underlying profits tumble to £200,000 in the six months to 26 October 2019, down from £12.9m recorded during the same period last year. The fashion retailer also saw revenues drop by 11% to £369m, which reflects “an expected year of reset” for the fashion retailer, who claims it…
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11 December
Co-op to open 30 new stores in lead up to Christmas
The Co-op has announced plans to open 30 new stores in the run-up to Christmas. An investment of more than £25m will see stores open across the UK throughout November and December, including sites at transport hubs, “key” city locations and residential apartments – creating up to 500 jobs. According…
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11 December
Naked Wines completes £95m Majestic Wine disposal
Naked Wines has confirmed it has completed the £95m sale of Majestic Wines to the US-based Fortress Investment Group. The deal will see Majestic Wine Warehouses Limited and Les Celliers de Calais S.A.S, which together comprise the Majestic retail and commercial business, keep all 190 stores open. Under its previous…
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11 December
Debenhams appoints John Walden and Kevin Conroy as non-executive directors
Department store Debenhams has appointed John Walden and Kevin Conroy as non-executive directors of Celine Jersey Topco, the parent company of the Debenhams Group. Walden is currently chairman of Naked Wines (formerly known as Majestic Wine plc) and was previously held the position of chairman at Holland and Barrett International.…
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11 December
Inditex reveals boost to net sales and profit
The parent company of Zara, Inditex, has posted “strong” trading results for the first nine months of the year. Following a “strong operating performance”, net sales across its brands were €19.8bn (£16.73 bn) marking a year-on-year increase of 7.5%. Net profit for the fashion group, which also owns Massimo Dutti,…
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10 December
Mothercare losses widen amid declining sales
Embattled retailer Mothercare has reported statutory losses before tax of £21.2m in its half-year trading update, amid declining worldwide sales. For the 28 weeks to 12 October 2019, worldwide sales decreased by 8.4% to £452.3m, and international retail sales were also down 5.3% in constant currency. The retailer’s net debt…
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