News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Feb- 2019 -18 February
Canada Goose revenue up 50% in 2018
Fashion retailer Canada Goose has reported a 50.2% increase in total revenue to $399.3m (£309.1m) in 2018, compared with $265.9m the previous year. Wholesale revenue increased to $164m (£126m) from $134m (£103m), with the increase primarily attributed to higher order values from existing partners, coupled with earlier shipment timing relative…
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18 February
McColls profits halve due to ‘supply chain disruption’
Convenience retailer McColls profits before tax dropped from £18.4m to £7.9m in the 52 weeks to 25 November 2018, impacted by the administration of wholesaler Palmer and Harvey. The wholesaler worked with 90,000 retailers in the UK before it collapsed in November 2017 with debts of £65m. McColls’ total revenue…
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15 February
Retail sales bounce back in January
UK retail sales saw a year-on-year increase of 4.8% in January, the highest jump since December 2016. Figures from the Office for National Statistics (ONS) showed that sales volumes rose by 1% following a 0.7% decline in December. The average store prices slowed to 0.4% year-on-year, the lowest price increase…
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15 February
Amazon ‘to launch checkout-free shops’ in London
Online retail giant Amazon has reportedly secured property to open checkout-free stores in London, making it the first openings of the concept outside of America. According to trade publication The Grocer, the sites will compete with food outlets such as Eat and M&S and will be located in areas with…
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15 February
Prada creates diversity council after blackface scandal
Prada has created a diversity council headed by American artist Theaster Gates and film director Ava DuVernay, after it was at the centre of a blackface scandal in December. The luxury fashion house said it was forming the council to “elevate voices of colour within the company and fashion industry…
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15 February
Zavvi blasted by ASA over Disneyland prize draw after winners complain
Online retailer entertainment retailer, Zavvi has been told not to run a competition again in “its current form” by the Advertising Standards Authority (ASA), after the winners were denied their prize as the retailer told them they had “responded too late”. The prize draw offered customers who paid with Mastercard…
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15 February
Puma sees shares dip over sales slowdown warning for 2019
Footwear retailer Puma has seen its shares drop 2.66% in early trading after forecasting a slowdown in sales and profit growth for 2019, despite a 20.1% sales increase, adjusted to €1,226m (£1,079m), during Q4 2018. For the full year in 2019, the retailer expects currency-adjusted sales growth of around 10%,…
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14 February
Mike Ashley’s business profits tumble
Profits at the holding company that contains Mike Ashley’s business empire plummeted in 2017, attributed to the fall in value of the pound and the poor performance at Newcastle United. Accounts filed at Companies House for the financial year ending April 2017 revealed profits at Mash Holdings fell from £227.7m…
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14 February
Fragrance Shop to open 15 new ‘Sniffbars’
The Fragrance Shop has announced it is to open 15 new ‘Sniffbars’, which will allow customers to smell a wide variety of fragrances and speak with perfume consultants. Opening as concessions in shopping centres, the standalone outlets are aimed at creating a retail experience for customers, merging both physical and…
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14 February
UK inflation hits two-year low in January
The Consumer Prices Index (CPI) 12-month rate fell to 1.8% in January 2019, down from 2.1% in December 2018, according to the latest figures from the ONS. This fell below the Bank of England’s inflation target of 2% for the month, with the Retail Prices Index (RPI) also decreasing to…
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