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.
-
May- 2019 -14 May
Boots profits slump by almost 20%
Profits at Boots UK stores fell by 18.3% last year as sales also struggled. For the year ending 31 August the company, which is owned by Walgreens Boots Alliance, reported profits of £317m and revenues of £6.8bn, a fall of 2.3% compared with the previous year. The fall is also…
Read More » -
14 May
Kering publishes new standards for animal welfare
Luxury fashion giant Kering has published its new animal welfare standards in order to “ensure and verify” the humane treatment of animals across the group’s supply chains. The first phase of the standards, which launched on 13 May, also include detailed requirements for the treatment of cattle, calves, sheep and…
Read More » -
14 May
Amazon partners with Next for click and collect service
Next and Amazon today announced Next’s participation in Amazon Counter – a new network of pick up points that allows customers to collect their Amazon orders in-store. Pick up from a Counter location at the fashion retailer is available from hundreds of stores across the UK and on millions of…
Read More » -
13 May
Debenhams CVA could cost local authorities £8.5m in business rates
Colliers International has estimated that Debenhams’ CVA could affect up to 59 local authorities, who could lose out on £8.5m of the £17.3m rates bills the department store retailer should have been paying on properties. As part of its CVA proposals, Debenhams had categorised its properties into five groupings and…
Read More » -
13 May
Mike Ashley plans to invest millions to revamp House of Fraser
Mike Ashely has revealed he plans to pledge hundreds of millions of pounds into relaunching House of Fraser in return for a three-year rent holiday. According to The Sunday Times, Ashley plans to open 31 upmarket stores rebranded to “Frasers” over the next five years – with five of these…
Read More » -
13 May
Shop vacancy rate rises to highest level in four years
The national town centre vacancy rate rose to 10.2% empty outlets, according to data from the BRC-Springboard Footfall and Vacancies Monitor. This is an increase on the previous quarter’s 9.9% rise and the highest vacancy rate seen since April 2015. In the four weeks from 31 March to 27 April,…
Read More » -
10 May
Zavvi tells email list they have won tickets to Champions League final
Online retailer, Zavvi has told its entire email subscriber list that they have won two tickets to the Champions League final between Tottenham Hotspur and Liverpool. Zavvi said that “technical issues” meant that all of its customers subscribed to its emails had been told they had won an all expenses…
Read More » -
10 May
Select officially enters administration
Embattled retailer Select has officially entered administration, placing 1,800 jobs at risk. Business advisory firm Quantuma has been appointed as administrators of Genus UK Ltd, trading as Select. Select, which operates from 169 stores across the UK, was muted to fall into administration earlier this week and has now confirmed…
Read More » -
10 May
Kerring to pay €1.25bn in Italian tax settlement dispute
Luxury fashion giant Kerring has agreed to pay a total of €1.25bn (£1.07bn) to the Italian Revenue Agency relating to claims over alleged tax evasion, in relation to its Swiss subsidiary Luxury Goods International (LGI). It comes after Swiss prosecutors opened an investigation into luxury fashion group in March last…
Read More » -
10 May
Hamleys sold to India’s richest man
Iconic toy store Hamleys has been sold to Reliance Brands Limited, a subsidiary of Reliance Industries – a conglomerate holding company owned by Mukesh Ambani, the richest man in India and the 13th richest man in the world as of March 2019. C.Banner International sold 100% of its shares in…
Read More »
