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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Mar- 2019 -5 March
Clarks closes Somerset factory leaving 35 jobless
Shoe retailer Clarks has confirmed the closure of its robot-assisted shoe factory in Street, Somerset, leaving 35 employees without a job. In January the retailer announced a proposal to cease production and close its Morelight manufacturing facility, and added that “despite [its] best efforts”, the levels of production and cost…
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5 March
Debenhams issues fresh profit warning
The statement Debenhams made in January to say it was on track to deliver profits in line with last year’s expectations is “no longer valid” as the department store chain reported a drop in sales. The group’s like-for-like sales fell by 5.3% in the 26 weeks to 2 March 2019…
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4 March
QVC UK introduces social commerce
Television shopping channel, QVC UK, is introducing social commerce to its offering to create a “discovery-led shopping experience”. Social commerce is a form of e-commerce that involves social media and online media to aid the online buying and selling of products or services. The multi-platform retailer has partnered with social…
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4 March
Kate Swann and Paul Geddes in contention for John Lewis chairmanship
Departing Direct Line boss Paul Geddes and former WHSmith CEO Kate Swann are both in the running to succeed Sir Charlie Mayfield as chairman of the John Lewis Partnership. According to the Sunday Times Geddes and Swann are the external candidates for the role and will be up against internal…
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4 March
Ted Baker founder resigns amid misconduct allegations
Ted Baker founder Ray Kelvin has resigned from his position as CEO and director of the fashion retailer with immediate effect, amid allegations of misconduct. Kelvin took a voluntary leave of absence from his role in December 2018, after the allegations of misconduct were made against him, and since that…
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4 March
Former Debenhams and John Lewis director to launch own brand
Jo Hooper, a former womenswear director at John Lewis and Debenhams is set to launch her own clothing brand. Named Nrby, the new brand will launch with a pop-up store in London’s Belgravia area according to reports by Drapers with a website said to be launched later this week. Nrby’s…
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1 March
LK Bennett could collapse ‘in next few days’
Some 480 jobs may be at risk as high end fashion retailer LK Bennett has appointed audit firm EY as its administrator while the company seeks funding. As reported by Sky News, if the chain doesn’t gain access to investment in the next few days it will be forced into…
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1 March
Gap to close 230 stores
Fashion retailer Gap will close 230 of its stores over the next two years as part of a plan to “revitalise” its brand health. The company estimates an annualised sales loss of approximately $625m (£471m) as a result of these closures. Additionally, the company estimates pre-tax costs associated with these…
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1 March
Farfetch and JD.com expand partnership with Toplife merger
Farfetch, the technology platform for the luxury fashion industry, has announced the expansion of their strategic partnership with JD.com in order to create the “premier luxury gateway to China” for luxury brands. Under the agreement, JD.com’s Toplife will merge into Farfetch China while Farfetch’s 3,000 luxury brands will be made…
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1 March
Lego looks to break China despite cutting 8% of workforce
Lego has announced it is looking to expand into China despite the fact it is set to cut 8% of its global workforce. The company’s Chinese ambitions come following strong financial results for the 2018 financial year, which saw revenue rise by 4% up to £4.1bn during last year with…
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