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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Jun- 2019 -25 June
EWM income rises after acquisitions
Retailer Edinburgh Woollen Mill (EWM) has announced a significant increase in revenue to £936m for the 18-month period to August 2018, compared to the 12-month period to February 2017, which included the purchase of Jaeger after it went into administration. The results, which were published on Companies House, also saw…
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25 June
Carpetright restructure bears fruit amid return to sales growth
Carpetright has reported its business turnaround is “on track” amid an “encouraging return to positive like-for-like sales growth”. The carpet retailer revealed in a trading update for the year ending 27 April 2019, that despite a “challenging first half” with group like-for-like revenues down 12.7%, UK like-for-like sales in the…
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25 June
New Look reports £522m loss amid cost saving efforts
Fashion retailer New Look has reported a statutory loss before tax of £522.2m in its full year results for the 53 Weeks to 30 March 2019. This was compared to the previous year’s loss of £190.2m, however the company said this was “principally driven” by £423.3m goodwill and brand impairment…
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25 June
UK grocery market sees ‘modest’ growth despite wet start to summer
The latest grocery market share figures, published by research, data and insight consultancy company Kantar, show supermarket sales grew by 1.4% year-on-year during the 12 weeks to 16 June 2019. According to the firm, the “modest” level of current growth has been the result of a wet start to the…
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24 June
Sainsbury’s boss Coupe slammed for £3.9m bonus
Mike Coupe, CEO of supermarket chain Sainsbury’s, has been criticised by shareholders and MP for his £3.9m bonus. The bonus follows the company’s failed £50m merger with Asda and is 7% more than he got last year. At the time of the announcement, Coupe faced criticism after he was caught…
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24 June
Game accepts £52m Sports Direct takeover
Video game retailer Game has agreed to Sports Direct’s £52m takeover offer. Prior to the agreement, the retailer’s board said it had been considering the merits of the mandatory offer and consulting with its major shareholders and advisers, whilst also actively engaging in normal course discussions with Sports Direct and…
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24 June
Pensions Regulator boss to face questions over Arcadia deal
The Pension Regulator (TPR) boss, Charles Counsell is set to appear in front of the Work and Pensions Committee, regarding the settlement with Arcadia boss Philip Green last month. The agreement, saw Green pledge an extra £25m per year to its company pension fund for three years, while in return…
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21 June
Monsoon CVA offers landlords £10m profit share for reduced rents
Monsoon Accessorize has made a CVA proposal to its landlords for reduced rents at more than half of its store portfolio in return for a £10m share in profits and an £18m interest free loan. With no store closures planned across its 258 outlets, the company is asking for rent…
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21 June
Retail sales slump in May
The quantity bought in May 2019 decreased by 0.5% when compared with the previous month, with a strong decline of 4.5% in clothing sales, according to new figures from the ONS. However, in the three months to May 2019, the quantity bought in retail sales increased by 1.6% when compared…
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21 June
Sainsbury’s unveils UK’s first meat-free butchers
Sainsbury’s has opened the UK’s first meat-free butchers which substitutes meat staples for plant-based alternatives. Launched for World Meat Free Week and located in Bethnal Green, the traditional style butchers will offer customers an array of cuts and joints from the 21-23 June. ‘Meaty’ cuts, joints and strings of sausages…
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