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 -18 April
UK retail sector bounces back in March
In the three months to March 2019, the quantity bought in retail sales increased by 1.6% compared with the previous quarter in 2018, according to new figures from the ONS. The sales increase has been attributed to “sustained growth” throughout the first three months of the year, and all store…
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18 April
Kuwait-based investors acquire 50% stake of Intu Derby
Intu properties and Cale Street Investments LP, an investment firm backed by the Kuwait Investment Office, London, have announced the establishment of a 50/50 joint venture for the Intu Derby shopping centre. The real estate investment firm will acquire for cash the 50% interest for consideration which values their share…
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18 April
Sports Direct sells flagship Dublin store for £17.3m
Sports Direct has reportedly sold its flagship Dublin store for €20m (£17.3m) in an off-market sale-and-leaseback deal to an unnamed investor. According to the Irish Times, under the deal, the retailer will continue to occupy the premises while paying the owner an annual rent of €950,000 (£823,802) for the next…
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17 April
Morrisons granted Supreme Court data breach appeal
Morrisons has been granted permission to appeal to the Supreme Court after it was found responsible for a data breach which affected more than 100,000 employees. The latest appeal follows the October 2018 decision by the Court of Appeal to uphold the original verdict of the High Court on vicarious…
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17 April
Arket launches recycling scheme for ‘unwanted’ clothes and shoes
Fashion retailer Arket has announced a new recycling scheme for unwanted clothes and shoes, due to launch at the end of April at all of its stores. Customers will be able to bring “unwanted textiles” to any store, where the products will be taken care of and returned to the…
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17 April
Shopping centre landlords offer free space to retailers
Revo, the organisation that represents the retail community, has launched a new competition to give budding retail entrepreneurs free space in shopping centres and help with marketing. The organisation driving retail placemaking across Britain and Ireland has launched a major new campaign to find the next generation of retail talent…
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17 April
Over 100 Whitbread jobs face axe following Costa sale
Around 100 jobs are expected to be cut at the head office of Whitbread following the sale of Costa Coffee to Coca Cola for £3.9bn. According to reports by The Times, a consultation involving around 10% of the company’s head office staff was expected to be concluded this month, however…
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16 April
Card Factory profits fall as footfall hits LFL sales
Card Factory has reported in its latest full-year results that profit before tax fell by 8.3% to £66.6m as its like-for-like sales stagnated with a 0.1% decrease. The company attributed the fall in sales to a decrease in footfall across its 972 stores and a “tough consumer environment”. However its…
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16 April
Aquascutum halves HQ workforce
Coat retailer Aquascutum has axed half of its headquarters-based workforce as part of a review of the retailer’s operations. More than 30 jobs have been axed by the retailer according to reports by Drapers, with most of the affected roles said to have been made redundant, while other staff members…
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16 April
Monsoon Accessorize set to close ‘dozens’ of stores
Women’s clothing and accessories retailer Monsoon Accessorize is reportedly preparing to enter a CVA which could see it close dozens of its stores. According to Sky News, the company has appointed Deloitte to draw up a CVA to be launched within the next few weeks. The agreement will allow the…
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