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.
-
Jun- 2019 -4 June
Retail sales in May see ‘biggest decline on record’
Sales decreased by 2.7% in May on a total basis, excluding Easter distortions, making it the “worst decline” since records began in January 1995, according to the latest BRC-KPMG sales monitor. However, the BRC said this was against an increase of 4.1% in May 2018, itself a four year record.…
Read More » -
4 June
Network Rail sees retail sales growth of 4.36% in 2018/19
Network Rail saw its retail sales grow 4.36% and like-for-like sales increase by 1.32% in the 2018/19 financial year – above the British Retail Consortium’s (BRC) figure of 0.05% for the whole of the retail sector in the same period. The transport company said its largest station retail offer –…
Read More » -
4 June
Intu appoints new CFO
Intu has appointed Robert Allen as it new chief financial officer with effect from Monday, 10 June 2019. Allen served as group CFO of Crest Nicholson Plc for two years until 2018. From 1998 to 2016, he held a number of senior finance roles at British American Tobacco Plc including…
Read More » -
4 June
Waitrose trials packaging-free initiative
Supermarket chain Waitrose has announced plans to help to reduce the usage of plastic in its store, by trialling a packaging-free initiative at its Botley Road store in Oxford. The trial is designed to see how customers shopping trends may change in the future and will run for a period…
Read More » -
3 June
Amazon launches ‘Clicks and Mortar’ initiative in UK
Amazon, along with business support firm Enterprise Nation, has launched ‘Clicks and Mortar’, an initiative which aims to help small businesses grow, both in-store and online. According to the online retail giant, the scheme will enable more than 100 small online businesses to sell on the high street for the…
Read More » -
3 June
Philip Green charged with assault in the US
Arcadia owner Philip Green has been charged with four counts of misdemeanour assault in the US. The alleged incidents, which Green strenuously denies, are said to have occurred at the Canyon Ranch resort in Tucson, in 2016 and 2018. Each count carries a potential sentence of up to 30 days…
Read More » -
3 June
Karen Millen owner mulls sale
Icelandic bank Kaupthing, which owns fashion retailer Karen Millen, has reportedly drawn in Deloitte to explore the sale of the company. According to Sky News, Kaupthing is reviewing its options for the retailers and sources said a sale of the company could take months to complete. It is not yet…
Read More » -
May- 2019 -31 May
Monsoon landlords seek equity stake in exchange for CVA
The landlords of fashion retailer Monsoon Accessorize are reportedly seeking an equity stake in the company in exchange for the support of a CVA. According to Sky News, British Land, Hammerson, M&G Investments and Roubaix Group have written to the company’s owner Peter Simon, asking to negotiate improved terms. Simon…
Read More » -
31 May
JD Sports’ Peter Cowgill to receive £6m bonus
JD Sports chairman Peter Cowgill is set to receive a £6m bonus following his “exceptional performance” at the sportswear retailer. The retailer’s remuneration committee recommended the payment due to the fact that Cowgill has not received any awards under the company’s incentive plans. The committee also found that Cowgill has…
Read More » -
31 May
Consumer confidence increases in May
Consumer confidence rose by 3 overall to -10 for the month of May, according to GFK’s Consumer Confidence Index. Four measures increased and one stayed the same. Forecasts for the general economic situation over the next 12 months have increased five points to -29; but is still eight points lower…
Read More »
