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 -30 April
Clubcard holders to get 50% discount for Tesco’s 100th birthday
Tesco Clubcard holders are set to get a 50% discount on their shopping as part of the supermarket’s 100th birthday. According to reports by Money Saving Expert (MSE) shoppers will be able to use their discount online and in-store, on items such as “coffee to cat food, as well as…
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30 April
Consumer confidence remains negative in April
Consumer confidence remained at its level of -13 in April according to GfK’s Consumer Confidence Index. Two measures increased and three saw a decrease during the month. The index measuring changes in personal finances during the last 12 months has decreased this month to -1; this is the same as…
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29 April
Kurt Geiger owner mulls £450m sale to US fashion giants
The private equity firm which owns Kurt Geiger is reportedly mulling over a sale of footwear and accessories retailer to some of America’s fashion giants for around £450m. According to The Telegraph, Cinven has reportedly held “fireside chats” with potential buyers including Steve Madden, Michael Kors and Coach. If a…
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29 April
Loewe opens flagship store in London
Spanish fashion retailer, Loewe, has announced it has opened a new flagship store on New Bond Street in London after a year-long refurbishment project at the premises. The new three-floor Casa Loewe store will replace the luxury retailer’s Mount Street premises as Loewe’s only London store. The retailer will showcase…
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29 April
Arcadia secures help from HSBC
Arcadia, which is owned by Phillip Green, has secured help from HSBC in order to reassure suppliers as the retailer seeks out a rescue deal. According to a report by The Times, HSBC agreed to stand behind Arcadia’s debts to suppliers, which have asked for advance payments since credit insurers…
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29 April
Retail rents fall as pressure on sector continues
High street shop prime rents fell by 1% in the first quarter of the year, according to real estate company CBRE’s latest Prime Rent and Yield Monitor. This indicated an acceleration of the falls reported in Q3 (0.4%) and Q4 (0.4%) of 2018. Shopping centre prime rents fell 1.3% over…
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26 April
Debenhams to close 22 stores with 1,200 jobs at risk
Department store chain, Debenhams has announced it is to close 22 stores putting 1,200 jobs at risk. The closures come as part of a revival plan for the department store laid out by lenders including Barclays and Bank of Ireland. Terry Duddy, Debenhams executive chairman, said: “Debenhams has a clear…
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26 April
Laura Ashley shares tumble 20% amid fresh profit warning
Laura Ashley has seen its shares tumble 20% in early trading after it issued a profit warning indicating figures will fall “significantly below market expectations”. While at the time of writing shares have recovered slightly and now sit at 9.6% down from opening, the news follows the release of its…
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26 April
Retail sales growth picks up for first time in five months
Retail sales grew for the first time since November 2018 in the year to April, according to the latest monthly Confederation of British Industry (CBI) Distributive Trades Survey. The survey of 110 firms, of which 55 were retailers, showed that sales volumes rose for the first time in five months,…
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26 April
Shop Direct protects 200 jobs with Raven Mill deal
Shop Direct has transferred its returns activity at its Raven Mill site over to logistics company Clipper Logistics in a move which will see 200 jobs safeguarded. The logistics firm will operate on behalf of Shop Direct at the 215,000 square foot site near Oldham, Lancashire. Clipper Logistics will operate…
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