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.
-
Jan- 2019 -16 January
Jack Wills drafts in advisers
Fashion retailer Jack Wills has reportedly appointed accountancy firm EY to scrutinise and advise on its financial position. According to Sky News, EY – who are led by HSBC – have been brought in to assess its finances and help negotiate revisions to its borrowing covenants. The news comes just…
Read More » -
16 January
The Works upbeat after strong Christmas revenue growth
Arts and crafts retailer The Works has reported a 15% increase in revenue in its half-year trade update, with like-for-like (LFL) sales also up 3.8%. The company said it continued its sales momentum into the Christmas trading period, delivering a “record sales performance despite tough comparatives”, and achieved LFL sales…
Read More » -
16 January
Consumer spending drops further in December with 1% decline
Consumer spending continued to fall in the month of December with a 1% decline, according to Visa’s UK Consumer Spending Index. The index compiled by IHS Markit, showed that overall expenditure continued to decline at the end of 2018. The 1% year-on-year reduction seen in December was the fastest seen…
Read More » -
15 January
M&S store closures to affect 1,045 jobs
Marks and Spencer has confirmed 17 stores which are set to close within its plans to shutter over 100 stores to “reshape” its estate and become more relevant to customers. These closures are expected to affect 1,045 jobs and the retailer said it will enter a period of consultation with…
Read More » -
15 January
The Entertainer stockpiling toys for no-deal Brexit
Toy retailer, The Entertainer has announced it is stockpiling an extra 100 containers of toys in order to prepare for a no-deal Brexit. The Entertainer’s managing director Gary Grant said the stockpiling meant that the toy retailer had sent double the usual amount of stock to the UK, to ensure…
Read More » -
15 January
Games Workshop delivers strong half-year results
Fantasy miniatures retailer Games Workshop has reported a sales increase of 14% to £125.2m in its half-year results, covering the six month period to 2 December 2018. On a constant currency basis sales were up by 13% from £109.6m to £124m, compromised of retail £42.3m (2017: £39.6m), trade £60.7m (2017:…
Read More » -
15 January
Boohoo raises revenue forecasts amid sales surge
Online fashion retailer Boohoo has raised its revenue guidance for the year after group sales surged 44% to £328.2m in the four months to 31 December. The group, which also operates brands such as PrettyLittleThing and Nasty Gal, experienced a 33% increase in UK sales to £180m up from £135.7m…
Read More » -
15 January
Booths posts festive sales boost and profit increase
High end supermarket group Booths has reported a “strong” growth in sales over the Christmas period as well as an increase in profit. In the three weeks to 5 January 2019, the company saw a 3.3% increase in sales and a 4.5% year-on-year uplift in profits. The retailer said its…
Read More » -
14 January
Richemont Europe blames French ‘social unrest’ for sales slowdown
Swiss retail group, Richemont Europe, has blamed French “yellow vest” protests for a slowdown in its sales. The group, which owns Cartier, Dunhill and Net-A-Porter, said it had seen a 5% rise in total sales for the quarter ending 31 December. Despite the sales figure being in line with analysts…
Read More » -
14 January
JD Sports ‘confident’ after strong Christmas sales growth
Sports fashion retailer JD Sports has reported a total sales growth of 15% for the 48-week period to 5 January 2019. Total like-for-like sales growth during the period also increased by 5%, which included a consistently positive like-for-like performance across Black Friday and the Christmas period. According to the group,…
Read More »
