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 -7 December
Games Workshop defies ‘high street woes’ with strong H1 results
Fantasy miniatures retailer Games Workshop has reported sales of £124m and operating profits of £41m for the first six months of its 2018/19 financial year. The group said the results were “in line with expectations” for the year ending 2 June 2019, but added that the board is “aware it…
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7 December
Primark owner warns ‘trading was challenging’ for November
Primark owner, Associated British Foods has warned that trading for November was “challenging” for the clothing retailer. The group’s chairman, Michael McLintock, will say at its AGM today that a “tough retail market” was to blame for a challenging month. Trading was “in line with expectations” for the first eight…
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7 December
Retailers could lose out on £496m refund as ATM ruling is appealed
In November, the Court of Appeal ruled that ATMs inside and outside of stores should not be assessed for business rates
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6 December
Tesco executives acquitted in £250m fraud trial
Chris Bush, former UK managing director, and John Scouler, former UK food commercial director of Tesco have been acquitted of £250m fraud and false accounting charges after a judge ruled there was a lack of evidence. In August 2014, Tesco reported half-year profits of £1.1bn, however weeks later its said…
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6 December
Ted Baker launches investigation into CEO ‘hugging’ allegations
Fashion retailer Ted Baker has launched an investigation into harassment allegations against its founder and CEO Ray Kelvin, after reports claimed he hugged workers and kissed their necks and ears. The group has appointed independent law firm Herbert Smith Freehills to conduct an independent external investigation into the reports it…
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6 December
UK customers to boost retailers with £420 festive spend
New Christmas trading analysis from PwC has suggested UK shoppers are preparing to spend an average of £420 on Christmas presents this year. Those in the 35-44 year age bracket are expected to shell out the most with a £522 spend, and shoppers in Scotland will have the highest average…
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6 December
Clas Ohlson to close all UK stores axing 150 jobs
Home retailer, Clas Ohlson has announced it is to close all UK stores as it looks to focus on operations in Sweden and Denmark. The retailer has also closed four pilot stores in Germany after it found that “the operations will be unable to deliver on plan and therefore the…
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5 December
Boohoo found to be ‘breaking rules around sales promotions’
Online clothing retailer, Boohoo, has been found to have been “breaking rules around sales promotions” by the Advertising Standards Authority (ASA). The ASA was alerted to the issue after an episode of the BBC’s Watchdog Live programme, which found that between August and November 2018, Boohoo had 14 sales advertised…
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5 December
Travis Perkins contemplating future of Wickes brand
Parent company Travis Perkins is contemplating the future of its Wickes brand as it seeks to “simplify its business to improve returns”. Following a comprehensive review of the business announced it July, the board of Travis Perkins concluded that the group will focus on “serving trade customers through advantaged businesses…
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5 December
Joules reveals ‘contingency plan’ for a hard Brexit amid strong H1 results
Fashion retailer Joules’ group revenue has increased by 17.6% to £113.1m for the first half 2019 financial year, covering the 26-week period to 25 November 2018. However, the retailer’s executive board anticipates that trading conditions in the UK “will remain challenging over the near term”, with continued “macroeconomic uncertainty, rapidly…
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