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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Mar- 2019 -13 March
£2.4m Moran’s Retail overhaul to create 30 jobs
Northern Irish grocery store chain, Moray’s Retail has announced it is to overhaul three stores creating 30 new jobs. The retailer will redevelop outlets in Derry, Coleraine and Ballykelly, creating jobs in catering, management, retail and admin. Along with redevelopment work, the retailer will also open a new state-of-the-art store…
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13 March
Sergio Rossi opens flagship in London
Shoe and handbag brand, Sergio Rossi, will be opening its newest store on London’s Mount Street, Mayfair. The 100 sqm retail space will be its flagship with an aim to “perfectly summarise” the identity of the brand. The store concept has been created by architect Marco Costanzi and a collection…
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13 March
Morrisons sees third year of ‘strong’ sales despite profits drop
Big Four supermarket Morrisons has posted an increase in sales for the third consecutive year in its preliminary results for the 52 weeks ending 3 February 2019. The group’s like-for-like sales saw a 4.8% increase on last year’s sales, however its profits before tax took a 15.8% hit to £320m…
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13 March
Dixons Carphone fined £29m for mis-selling ‘Geek Squad’ product
The Financial Conduct Authority (FCA) has fined Carphone Warehouse £29,107,600 for failings that led to the mis-selling of ’Geek Squad’, a mobile phone insurance and technical support product. The watchdog found The Carphone Warehouse failed to give its sales consultants “the right training to give suitable advice” to customers purchasing…
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12 March
French Connection returns to profit despite sales drop
Embattled retailer French Connection has announced a return to profit for the first time in seven years, despite experiencing a sales drop during “difficult trading” conditions. Like-for-like sales during the 12 month period to 31 January fell by 6.8% due to decline in both in-store and online. However the company…
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12 March
Laybuy launches in the UK with Footasylum partnership
Laybuy, New Zealand’s largest buy now, pay later service, has officially launched in the UK with footwear retailer Footasylum confirmed as its first major retail partner. Laybuy allows consumers to spread the cost of purchases over six interest-free payments, with the first being made at the point of sale. The…
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12 March
Early Learning Centre sold to The Entertainer for £13.5m
Mothercare has sold its Early Learning Centre (ELC) brand to toy retailer The Entertainer for £13.5m. The deal comes as part of restructuring and refinancing at Mothercare, with the retailer saying it means ambitions to be debt free by the end of the year had been bolstered. Mothercare said the…
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12 March
Digital Services Tax extended to include 2% ‘Amazon tax’
High streets government minister, Jake Berry, has promised to extend the Digital Services Tax to include a “2% tax on online retail” to save Britain’s high streets. Berry confirmed that the tax, announced at last October’s Autumn Budget, would be extended to online retailers saying if the government cannot secure…
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11 March
Feb footfall signals 15th month of decline
Footfall fell by 2% in February, a significant decline compared with the previous year, when it fell by 0.2%, and marks the fifteenth consecutive month of decline. According to the BRC’s figures it was also the weakest February in five years. High street footfall was found to have declined by 1.9%, marking seven consecutive months of weakening…
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11 March
Liam Gallagher’s Pretty Green calls in advisors
Liam Gallagher’s Pretty Green fashion brand has called in advisors Moorfields Advisory to oversee a strategic review of the company’s business. According to reports by Drapers options under consideration include a possible sale, with a source telling the website Pretty Green was hit “really badly” when House of Fraser’s website…
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