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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Dec- 2018 -14 December
Hobbs chief executive exits amid senior overhaul
Hobbs chief executive, Meg Lustman, is to step down from her role at the women’s fashion retailer as its parent company TFG London undergoes a reshuffling of its senior staff. Lustman, who joined the company in 2014, will depart her role in January. Following the seamless integration of the Hobbs…
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14 December
CAP bans ‘harmful’ adverts featuring gender stereotypes
The Committees of Advertising Practice (CAP) has announced it is to ban “harmful” adverts featuring gender stereotypes. CAP’s ban comes after regulator, the Advertising Standards Authority (ASA), commissioned a review of gender stereotyping in advertising. Following the review, CAP said it would ban adverts featuring “gender stereotypes that are likely…
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14 December
VF Corporation appoints new Vans EMEA VP
VF Corporation, the clothing and footwear retailer, has appointed Stefano Saccone as its new VP for Vans EMEA. Saccone will take up his position from April 1, 2019. He joins the Vans brand from VF’s Eastpak brand, where he most recently served as VP. He replaces Jan van Leeuwen, who…
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14 December
Grocery market growth cools as Christmas nears
Grocery market share figures have cooled in the lead up the Christmas, growing only 2% for the 12 weeks to 2 December 2018, its slowest rate since March 2017. According to the Kantar Worldpanel consumers are benefiting from falling inflation, which now stands at 1.6%, and is less than half…
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13 December
Mike Ashley asks Debenhams to ‘reconsider’ £40m offer in ‘frustrated’ email
Mike Ashley has asked Debenhams to “reconsider” his £40m investment offer which he described as “a very public statement of support at a critical time for Debenhams’ business” in an email in which he described himself as “frustrated”. In the letter Ashley expresses his frustration that Sports Direct’s “assistance” has…
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13 December
Russell and Bromley sees 55% profit plunge
Footwear retailer Russell and Bromley has announced a 55% fall in profits in the year to 31 December 2017. The fall represents the company’s third consecutive year of falling profits after it also announced that turnover dipped by 6% to £100.6m across the same period. The retailer called the challenges…
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13 December
Bonmarché shares halve amid second profit warning
Shares in fashion retailer Bonmarché halved this morning (13 December) from 81 pence to 47 pence after announcing it expects losses of £4m for the current financial year. The group blamed the “uncertainty surrounding Brexit” as a significant factor affecting demand, and expects like-for-like sales for Q3 to drop by…
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13 December
HoF acquisition dents Sports Direct profits
Sports Direct has reported a 27% fall in profits for the half-year period ending 28 October as it counts the cost of its acquisition of embattled department store chain House of Fraser. During the period, the company that also owns USC, Flannels, and Evans Cycles reported underlying profit before tax…
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13 December
Ocado’s 12% sales increase marks ‘good finish to the year’
Online supermarket Ocado has seen a 12% increase in revenue to £390.7m for the 13 weeks to 2 December in its Q4 financial results. This was compared to a revenue of £348.9m in the same period last year and the group said its growth was in line with its guidance…
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12 December
Shares dive as Dixons Carphone reports £440m H1 loss
Dixons Carphone has reported losses before tax of £440m in its half-year trading report, compared with the profit before tax of £54m last year, as shares in the company dived by 8.71% to 137.75p. The business said the figures were a result of non-headline charges of £490m, attributed to a…
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