News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Jul- 2019 -18 July
Asos issues profit warning amid ‘operational issues’
Online retailer Asos has issued its third profit warning this year, on the release of its trading statement for the four months up to 30 June. The retailer cited “operational issues” as one of the contributing factors to the profit warnings, and the expected steep decline in profits. The retailer…
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18 July
Hotel Chocolat revenues jump 14%
Chocolate retailer Hotel Chocolat Group has reported a 14% increase in revenue to £132m for the year ending 30 June 2019. The retailer opened 16 new stores in the year contributing 5% to group sales year-on-year. Two of the new openings were in the USA, and the group also entered…
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17 July
Nine retailers to open on Broadgate development
Nine retailers are set to open stores on the Broadgate development just outside Liverpool Street Station. Chocolatier, Charbonnel et Walker is returning to the area, and clothing retailer Gant is also opening its first ever east London store. The stores will be joined by skincare brands Kiehl’s, Neom and The…
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17 July
Watches of Switzerland sees profits surge 181% in FY results
Watches of Switzerland has reported a 181% rise in profits before tax to £20.1m, in its first set of results after the company was floated on the London Stock Exchange. For the year ending 28 April 2019, the group also revealed its revenues surged by 22.5% to £773.5m during the…
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17 July
Zara owner Inditex launches new sustainability strategy
Inditex, the parent company of fashion brands Zara, Pull&Bear, Stradivarius and Massimo Dutti has unveiled its new sustainability line that by 2023 aims to eliminate all single-use plastics for customers sales. At the company’s AGM meeting yesterday (16 July 2019) executive chairman Pablo Isla said “the culture of diversity, innovation…
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17 July
Claire’s announces new CEO
Jewellery and accessories chain Claire’s has appointed Ryan Vero as its new CEO, which will see interim CEO Kevin Corning return to his role on the board. Vero joins the company from Party City Retail Group, where he was president, overseeing nearly 1,000 retail stores in North America and Europe,…
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16 July
Around 16% of UK shops lie empty according to FOI
Corporate restructuring advisor Duff and Phelps has revealed that close to 16% of all UK retail and shop outlets remain empty, according to a Freedom of Information (FOI) request made to local councils. Its research found that over 50,000 units in 418 councils remain closed, an average of 121 empty…
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16 July
Sainsbury’s Waltham Point warehouse staff set for second strike
Sainsbury’s warehouse staff at Waltham Point are set to go on strike for the second time later this month following a dispute over an attendance scheme. Staff at the ‘Big Four’ grocer’s distribution centre in Essex will take part in a second round of 24-hour strike action on Thursday, 25…
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16 July
Burberry revenues surge in Q1 results
Fashion retailer Burberry has reported a 4% increase in retail revenue to £498m for the 13 weeks ending 29 June, driven by an “excellent” consumer response to newly designed products from designer Riccardo Tisci. Like-for-like sales also jumped 4% during the period, and the retailer’s EMEIA grew by a “low-single…
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16 July
Arcadia receives challenges on CVAs from US property group
Philip Green’s Arcadia has received a challenge from two legal entities of US property group Vornado, in relation to the company voluntary arrangements (CVAs) which were agreed last month. The retailer had all seven of its CVAs approved last month allowing it to restructure to avoid administration, more than 23…
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