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.
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Jun- 2019 -25 June
UK grocery market sees ‘modest’ growth despite wet start to summer
The latest grocery market share figures, published by research, data and insight consultancy company Kantar, show supermarket sales grew by 1.4% year-on-year during the 12 weeks to 16 June 2019. According to the firm, the “modest” level of current growth has been the result of a wet start to the…
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24 June
Sainsbury’s boss Coupe slammed for £3.9m bonus
Mike Coupe, CEO of supermarket chain Sainsbury’s, has been criticised by shareholders and MP for his £3.9m bonus. The bonus follows the company’s failed £50m merger with Asda and is 7% more than he got last year. At the time of the announcement, Coupe faced criticism after he was caught…
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24 June
Game accepts £52m Sports Direct takeover
Video game retailer Game has agreed to Sports Direct’s £52m takeover offer. Prior to the agreement, the retailer’s board said it had been considering the merits of the mandatory offer and consulting with its major shareholders and advisers, whilst also actively engaging in normal course discussions with Sports Direct and…
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24 June
Pensions Regulator boss to face questions over Arcadia deal
The Pension Regulator (TPR) boss, Charles Counsell is set to appear in front of the Work and Pensions Committee, regarding the settlement with Arcadia boss Philip Green last month. The agreement, saw Green pledge an extra £25m per year to its company pension fund for three years, while in return…
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21 June
Monsoon CVA offers landlords £10m profit share for reduced rents
Monsoon Accessorize has made a CVA proposal to its landlords for reduced rents at more than half of its store portfolio in return for a £10m share in profits and an £18m interest free loan. With no store closures planned across its 258 outlets, the company is asking for rent…
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21 June
Retail sales slump in May
The quantity bought in May 2019 decreased by 0.5% when compared with the previous month, with a strong decline of 4.5% in clothing sales, according to new figures from the ONS. However, in the three months to May 2019, the quantity bought in retail sales increased by 1.6% when compared…
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21 June
Sainsbury’s unveils UK’s first meat-free butchers
Sainsbury’s has opened the UK’s first meat-free butchers which substitutes meat staples for plant-based alternatives. Launched for World Meat Free Week and located in Bethnal Green, the traditional style butchers will offer customers an array of cuts and joints from the 21-23 June. ‘Meaty’ cuts, joints and strings of sausages…
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21 June
Usdaw to protest at Boohoo AGM
Retail trade union The Union of Shop, Distributive and Allied Workers (Usdaw) is set to protest Boohoo’s AGM today, (21 June) over the company’s refusal to meet over ethical trading. The protest will take place at Boohoo’s HQ on Dale Street in Manchester, and at its AGM on Hardman Square,…
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20 June
Dunelm raises profit forecast for second time
Dunelm Group has announced it has continued to see “strong trading” across its business and has decided to raise its profit forecast for the second time this year. Since its last update on 10 April 2019 the home furnishings retailer said it has experienced “very good year-on-year total like for…
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20 June
Dixons Carphone shares plunge amid full-year loss
Consumer electronics retailer Dixon Carphone saw profits plunge by up to 28% this morning, after posting full-year losses for the year to 27 April 2019. Shares in the retailer, which owns Carphone Warehouse and Currys PC World, have since recovered slightly to 11% down from opening. It comes after it…
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