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.
-
Nov- 2018 -27 November
Pets at Home suffers 80% drop in pre-tax profits
Pet retailer Pets at Home has reported an 80.5% drop in pre-tax profits from £40.8m to £8m in its financial results for the 28 weeks from 30 March to 11 October 2018. The company attributed its performance to “increasing cost pressures” faced by its veterinary business. The company said it…
Read More » -
27 November
Kering to take e-commerce in-house by 2020
Luxury fashion house Kering has announced it is to bring its e-commerce entirely in-house by 2020. The company that owns brands such as Gucci, Yves Saint Laurent, Alexander McQueen and Balenciaga will leverage its in-house technology and operations team to fully internalise the e-commerce activities currently handled through its joint…
Read More » -
26 November
Black Friday provided ‘little benefit to struggling high street’
This year’s Black Friday has done “little to help the struggling bricks-and-mortar stores throughout the UK”, according to data from Springboard. The group, which provides insights on retail performance, said overall footfall declined by 5.4% from Black Friday 2017, with declines of similar magnitudes throughout the weekend from last year…
Read More » -
26 November
Mike Ashley vows to pull 17 stores from Intu Properties
Sports Direct owner Mike Ashley has vowed to close all his stores located in Intu shopping centres following a rent row over four House of Fraser stores. The move will see Ashley shut 17 stores — a mix of Sports Direct, House of Fraser, Flannels, USC and Evans Cycles…
Read More » -
26 November
Aldi shoppers report ‘fights’ over Kevin the Carrot toys
Aldi shoppers have reported witnessing “fights” and “scraps”over its Kevin the Carrot toys sold in support of Teenage Cancer Trust. The toys, which feature in the supermarket’s Christmas adverts, were available in a range of sizes from a small £3.99 version all the way up to a 100cm Kevin the…
Read More » -
26 November
Missguided boss slammed by MPs for Parliamentary no-show
Nitin Passi, the CEO and founder of online retailer Missguided, has been criticised by MPs for refusing to appear in the Houses of Parliament as part of an investigation into fast fashion. In a letter to Passi, MP Mary Creagh chair of the Environmental Audit Committee, said she was “disappointed”…
Read More » -
23 November
Amazon responds amid Black Friday warehouse protests
Amazon has responded to claims made by workers’ union GMB calling working conditions “inhumane” as “simply wrong”, as employees from some of its UK warehouses mounted protests this Black Friday. Hundreds of Amazon warehouse workers have protested at the online retail giant’s warehouses in Rugeley, Swansea, Peterborough, Milton Keynes…
Read More » -
23 November
Chinese shopping sites pull Dolce and Gabbana goods amid ad backlash
Dolce and Gabbana products have been pulled from Chinese e-commerce as a result of its controversial ad campaign. The luxury fashion house posted an ad this week which shows a Chinese model struggling to eat pasta and pizza with chopsticks. The campaign was accused of promoting unflattering stereotypes. The situation…
Read More » -
23 November
Rent-to-own market price cap proposed by FCA
The Financial Conduct Authority (FCA) are consulting on introducing a price cap in the rent-to-own (RTO) market to address harm to vulnerable consumers from high prices. The proposed price cap on RTO products, which are rented by consumers and paid off gradually, would come into effect on 1 April 2019…
Read More » -
23 November
Wyevale Garden Centres sells five sites
Wyevale Garden Centres has sold five more of its stores as it continues plans to cut back its retail portfolio as part of a turnaround plan. A Wyevale spokesperson told Retail Sector: “In accordance with TUPE regulations colleagues are now being consulted with on the transfer of their employment to…
Read More »
