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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Jan- 2019 -2 January
Large retailers must now ‘justify’ bosses’ wages
UK companies listed on the stock market and with over 250 employees will now have to annually disclose and explain their top bosses pay and the gap between that and their average worker, the UK government has said. The pay ratio regulations, which came into force on 1 January 2019,…
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2 January
Greenwoods goes into liquidation
Yorkshire-based menswear retailer Greenwoods has gone into liquidation just 18 months after it was saved from administration. The 158-year-old company is the latest high-street victim closing all of its stores with more than 100 jobs expected to be lost. The retailer originally fell into administration in September 2017, with 40…
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2 January
Iceland facing £21m bill over Christmas savings scheme
Iceland could be hit with a £21m fine as the HMRC has said the supermarket’s Christmas savings scheme meant its workers were being paid less than the minimum wage. The scheme allows workers to set aside a proportion of their weekly wage to be claimed back later, but CEO and…
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2 January
Online retailer Mahabis falls into administration
Mahabis, a specialist online retailer known for its premium slippers, has announced it has gone into administration. The company has ceased trading since it enlisted administrators KPMG on 27 December. It also warned that any customers who returned items would have an “unsecured claim” for any funds owed and added…
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Dec- 2018 -21 December
December consumer confidence ends 2018 on five-year low
GfK’s long-running Consumer Confidence Index decreased by one point in December 2018 to -14. The measure for the general economic situation of the country during the last 12 months also dropped by two points to -31 this month, the same level as December 2017, and expectations for the next 12…
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21 December
London’s West End to receive £186m pre-Christmas boost
Shoppers visiting London’s West End are expected to spend £186m in the final three days before Christmas, according to New West End Company, who represent over 600 retailers, hoteliers and property owners in the region. During these final three days more discounts and promotions will be on offer, including up…
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21 December
Boots owner’s earnings dented by ‘challenging market’ in the UK
Boots owner, Walgreens Boots Alliance, has said it has seen a decline in profit and sales due to a “challenging market” in the UK. The group said its UK pharmacy sales had fallen by 3.5% in the three months to the end of November, it also saw retail sales drop…
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20 December
Online breaks 20% of retail for first time
The quantity bought in retail sales increased by 0.4% in the three months to November 2018, driven by growths in non-food stores, online retailing and Black Friday promotions. According to the latest figures from the Office of National Statistics (ONS), during the month online sales as a proportion of all…
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20 December
UK airport retailers expected to take over £56m during ‘busiest time of the year’
New research has found that UK travellers will spend over £56m at UK airports during this period, considered the “busiest time of the year”, spending on average £62 per person each time they fly. According to the research by payments company FreedomPay, UK airports are expecting almost one million passengers…
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20 December
MPs launch inquiry into business rates
The Treasury select committee has launched an inquiry into business rates as part of the Housing, Communities and Local Government committee’s wider inquiry into the high street. Chair of the Treasury select committee, Nicky Morgan said the two departments were expected to publish the terms of reference in the new…
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