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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Feb- 2019 -25 February
Hammerson reports £268m loss and eyes further disposals
Shopping centre owner Hammerson has reported a loss of £268.1m in its 2018 FY results, also announcing it aims to make £500m in disposals this year. For the period ending 31 December the group saw its revenues drop 9% to £292m, Hammerson said the loss follows “a tough year particularly…
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25 February
Primark owner reports 4% sales boost for H1 2019
Associated British Foods (AFB), which owns Primark, has announced that sales at the retailer are expected to be 4% ahead of last year for the 24 weeks to 2 March 2019, driven by increased retail selling space. The group said the results will be partially offset by a 2% decline…
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25 February
Jack Wills to sell four stores in order to cut costs
Fashion retailer, Jack Wills is to sell four stores in order to make up for a store expansion which saw it increase its stores by a quarter, despite the fact it was making an underlying loss of £11m in 2017. Jack Wills is looking to assign leases to new tenants…
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22 February
Online retail records its ‘worst January sales growth’
Online retail recorded its worst January sales growth in three years last month, as the industry’s poor recent sales performance continued into the new year, according to the IMRG Capgemini eRetail Sales Index. E-commerce saw a 7% year-on-year increase which was slightly above the three-month average of 6.3% year-on-year, however…
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22 February
January posts lowest footfall decline in three years
January footfall declined 0.8% according to the latest data from Ipsos Retail Performance – the lowest decline in three years. Ipsos said the figures indicate that Britain’s shoppers “are getting on with the certainties of everyday living” despite the uncertainties of Brexit.Further figures showed that year-on-year deficits over three…
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22 February
Martin Newman announces DownYourHighStreet.com investment
Retail expert, Martin Newman has announced he has invested in e-commerce platform, DownYourHighStreet.com, bringing its told investment raised this funding round to £272,060, 81% more than its target. The platform, created specifically for independent bricks and mortar retailers to grow their e-commerce business, will officially launch in June and currently…
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22 February
Asda named ‘worst’ for in-store and online offerings
‘Big Four’ grocer Asda has been rated as the worst supermarket for both its in-store and online offerings, according to a survey of 12,000 Which? members. According to the consumer association, Asda was left “languishing at the bottom” of both its in-store and online rankings, with scores of 56% and…
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21 February
Laura Ashley issues fresh profit warning amid sales slump
Fashion and homeware retailer Laura Ashley has said its performance for the 2018 will “fall short of market expectations”, after posting an 8.7% sales slump for the 26 weeks to 31 December. The group announced that it broke-even in profit before tax and exceptional items for the last six months…
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21 February
Footasylum removes ‘stab-proof vest’ from stores
Footwear retailer, Footasylum has removed a “stab-proof vest” from its shelves after a youth worker suggested it could attract unwanted attention. Damian Henry, who works with young people involved in gangs or who have been involved in gangs, told the BBC he was “appalled” when he saw the item in…
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21 February
UK and Ireland retailers warn of no-deal tariffs
With just 36 days until the UK leaves the EU the leading retail bodies in Ireland, Northern Ireland and the United Kingdom have said a no-deal Brexit could have “devastating consequences”. The British Retail Consortium (BRC), Northern Ireland Retail Consortium (NIRC) and Retail Ireland have issued a joint statement highlighting…
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