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 -12 June
Arcadia creditors approve CVA proposals
Retail group Arcadia, has announced that all seven of its company voluntary arrangements (CVAs) have today been approved by the required majority of the companies’ creditors, including its pension trustees, suppliers and landlords. The approval allows the retailer to restructure, closing around 23 stores, in a bid to prevent going…
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12 June
Boohoo Q1 sales surge 39%
Boohoo has seen group sales surge 39% as revenues reached £245.3m for the three months ending 31 May. The online fashion retailer said it experienced strong revenue growth across all geographies with the UK up 27% to £140.6m and international up 56%. Across its brands, sales at Boohoo were £123.5m…
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12 June
Select CVA secures 87% creditor approval
Proposals for the Company Voluntary Arrangement (CVA) for high street fashion retailer Select has been approved by 87% of its creditors. The company, which is owned by Genus UK, previously fell into administration on 9 May 2019. Following this, joint administrators, Andrew Andronikou, Brian Burke and Carl Jackson of business…
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12 June
Zara owner records a 10% profit rise
Spanish fashion retailer Inditex, has announced a 10% rise in net profit for Q1, up to €734m (£634m). Net sales saw record growth for the first quarter, rising by 5% to €5.93bn (£5.2bn). EBITDA rose 49% to €3.53bn (£3.14bn), alongside a 6% rise in gross profit to €3.5bn (£3.1bn). Inditex…
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12 June
Sports Direct challenges Debenhams CVA
Department store Debenhams has confirmed Sports Direct is among the parties which have sent applications to challenge its CVA which was voted through by creditors on 9 May. Debenhams went under the control of its lenders when it entered a pre-pack administration in April. Debenhams Group Holdings Limited, its subsidiaries…
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11 June
Sainsbury’s fails to get Equal Pay claims struck out
An employment tribunal has rejected Sainsbury’s argument that equal pay claims for store staff should be struck out. Following the judgment of the Birmingham Employment Tribunal, the claims worth thousands of pounds for each client, and millions in total, will continue to a hearing. Law firm Leigh Day is representing…
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11 June
Ted Baker shares plunge amid fresh profit warning
Fashion retailer Ted Baker has issued its second profit warning this year, and anticipates underlying profit before tax for the year ending 25 January 2020 to be in the range of £50m to £60m. Shares plummeted by nearly 25% in early trading today (11 June), and the retailer said “ongoing”…
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11 June
Amazon launches Campus Challenge for UK students
Amazon has announced the launch of its new Campus Challenge competition and is encouraging students across the UK to sign up for the programme and gain the chance to win £10,000 for their team. The Amazon Campus Challenge is a competition running in the UK, offering students with an interest…
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11 June
Boohoo owner hit with £118m lawsuit
Boohoo owner Mahmud Kamani, has had a lawsuit filed against him by an IT consultant for breach of an agreement. Contractor Richard Womack is seeking remuneration for setting up the website, database, and integrated stock lines for the online retailer. He claims to have organised and bought equipment for photoshoots,…
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10 June
New returns policies make 73% of shoppers think twice about buying
Some 73% of consumers have given purchasing from a retailer a second thought for fear of being blacklisted due to updated returns policies created to clampdown on serial returners, a survey has shown. In April, ASOS was one of the first online retailers to take action against serial returners, with…
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