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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Apr- 2019 -3 April
Shop price inflation hits highest level in six years
Shop price inflation accelerated in March to 0.9%, up from 0.7% in February, the highest inflation rate since March 2013. The figures from the British Retail Consortium (BRC) and Nielsen’s Shop Price Index also revealed that food inflation had increased by 2.5% in March, up from 1.6% in February. This…
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3 April
Superdry’s board resigns following return of founder
Almost the entire board of executives have resigned from retailer Superdry after its founder Julian Dunkerton narrowly won a shareholder vote to return to the company. Dunkerton was appointed interim chief executive after he won the support of 51.15% of the shareholders following a long dispute between Superdry’s management and…
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3 April
Topps Tiles paves way to recovery after 2018 profit fall
Topps Tiles has announced it has seen its revenues remain flat for the six months leading up to 30 March 2019, as it looks to recover from a profit fall in 2018. When announcing its first half results in November 2018, the tile retailer said it was stockpiling supplies ahead…
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2 April
Intu still seeking CEO replacement it confirms
Shopping centre owner Intu has confirmed it is still seeking a replacement for outgoing CEO David Fischel. This is despite reports from the Sunday Times claiming that the owner of the Trafford Centre in Manchester and Intu Lakeside in Essex was favouring a move for former Travis Perkins chief operating…
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2 April
Bonmarche stores and jobs at risk after Philip Day acquisition
Bonmarche stores and jobs have been put at risk after Edinburgh Woolen Mill owner Philip Day acquired the clothing retailer for £5.7m. Day told the BBC that if his deal was successful, it would see a “store-by-store profitability assessment” in order to close under-performing stores unless it could implement a…
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2 April
Schroders backs Findel’s rejection of Sports Direct takeover
Fund manager Schroders has backed Findel’s rejection of Sport’s Directs £140m takeover bid, saying it “significantly undervalues” the future prospects of the company. Schroders said it remains “supportive of Findel” and its management team and the “operational and financial progress” that the home shopping company has made under the leadership…
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2 April
O2 increases paternity pay leave package to 14 weeks
Mobile network and phone retailer O2 has announced it will increase its paid paternity leave to 14 weeks for all permanent employees, effective from 1 April 2019. The new policy, which moves away from traditional two-week paternity policies, has been introduced to ensure all partners have the support and flexibility…
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1 April
Colin Porter to retire as Joules CEO
Joules CEO Colin Porter is to retire before the end of 2020 after eight years working with the fashion retailer. The exact date of Porter’s retirement is yet to be announced, however a process to appoint his successor has begun with the Joules board set to make an announcement in…
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1 April
Cambridge named UK’s ‘leading retail location’ for second time
Cambridge has again been named as the UK’s leading retail location according to a list scoring Britain’s best and worst retail centres. The university city topped a list of 1,000 retail centres, compiled by strategic retail property consultancy, Harper Dennis Hobbs (HDH). The HDH 2019 Vitality Index determines the retail…
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1 April
Shops, pubs and restaurants to get £500m tax reprieve
Small firms on England’s embattled high streets are set to share in half a billion pounds worth of tax cuts as business rates bills are slashed, real estate adviser Altus Group has said. The government announced a business rates discount scheme for small sized high street properties in England which…
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