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 -7 February
Superdry reports ‘subdued’ store and online sales
Superdry has reported that store and online sales over the 13 week period ending 26 January were “subdued”. The Japanese-inspired fashion retailer said revenues for the period reached £269m, a drop of 1.5% compared with the same time last year. Superdry attributed the decrease to “ongoing legacy product issues and…
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7 February
Ocado warehouse blaze leads to 7% shares drop
A fire which broke out at Ocado’s distribution warehouse in Andover has led to a 7% drop in the company’s shares. An Ocado statement on the London Stock Exchange said the site was providing approximately 10% of its current delivery capacity, and as a result of this incident there would…
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7 February
Apple retail boss Angela Ahrendts quits
Angela Ahrendts has quit her role as Apple’s head of retail following five years with the technology retailer, and will vacate her post in April. Apple has not given a reason for the retail boss’s departure, following a mixed year for the company which saw it secure a trillion dollar…
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7 February
Click-and-collect market to grow to £9.8bn by 2023
The UK click-and-collect market is set to rise 45.8% over the next five years to reach £9.8bn by 2023, according to analytics company GlobalData. However, growth is expected to slow as the fulfilment method matures and services offered by retailers are optimised. The company’s latest report, ‘Click & Collect in…
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6 February
Currys PC World scolded by ASA over 10% off sale
Currys PC World has been reprimanded by the Advertising Standards Authority (ASA) over a “10% off marked price” sale, which “misleadingly” suggested “a genuine saving was available” according to the regulator. A complainant told the ASA that they understood that the Samsung Family Hub American-Style Smart Fridge Freezer had been…
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6 February
Brighthouse to close 30 stores
Rent-to-own retailer BrightHouse has announced it is to close 30 stores putting up to 350 jobs at risk. The news of the company plans to close 10% of its portfolio over the next two months comes after it reported a pre-tax loss of £22.1m from £19.9m in the same period…
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6 February
Warehouse supplying HoF to shut affecting 280 jobs
A warehouse which supplies deliveries to House of Fraser is set to close later this year, affecting some 280 job roles. Trade union Usdaw announced that the Wellingborough, Northampton site, operated by XPO Logistics will shut on 10 April. The union said the closure ended months of “uncertainty for staff”…
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6 February
Poundland sells 20,000 engagement rings in a week
Discount retailer, Poundland has announced it has sold 20,000 of its £1 engagement rings within a week of going on sale. Poundland’s Bling Ring range made headline news upon its release and has been marketed as a “placeholder” ring, with the words “because we promise they’ll want to choose their…
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5 February
Carpetright CFO to step down as sales fall
Carpetright has reported its like-for-like sales “remained negative” during the 13 week period ending 26 January and also revealed its CFO is to leave the company. In the trading update Carpetright said that “as anticipated” its UK like-for-like sales remained negative for the period, although the trend improved from that…
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5 February
Oliver Bonas to open eight new stores in 2019
Fashion and jewellery retailer Oliver Bonas will open eight new stores in 2019, creating at least 80 new jobs as the firm enters new markets across the UK. The company said that “despite a turbulent retail climate”, Oliver Bonas has experienced “increasing demand” for its stores in new regions across…
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