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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Nov- 2018 -9 November
Fast fashion brands called before Parliament
A number of online only fashion retailers have been asked to give evidence as part of the Environmental Audit Committee’s inquiry into the sustainability of the fashion industry. The chair of the committee has written letters to ASOS, Boohoo, PrettyLittleThing, Amazon and Missguided, published today (9 November), to the online…
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8 November
Britain’s first ‘plastic-free’ supermarket begins transition
Britain’s first “plastic-free” supermarket in London’s Belsize Park has began its transition, changing more than 1,700 products over to non-plastic packaging. Thornton Budgens has promised to be “virtually plastic-free” within three years, in a “public experiment” supported by local celebrities Jim Broadbent and Janet Suzman. The move follows a Dutch…
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8 November
Burberry sees profits jump 36%
Burberry has reported a 36% rise in profits for the 26 week period ending 29 September 2018, despite seeing a drop in revenues. Sales declined 3% during the period to £1.22bn compared with the £1.26bn recorded the previous year, however operating profit jumped 36% from £127m in 2017 to £173m…
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8 November
Sainsbury’s sees boost from Argos deal in mixed financial results
Sainsbury’s profit before tax has dropped by 40% to £132m for the 28 weeks to 22 September 2018 compared with £220m the year before. However, the supermarket’s takeover of Argos in 2016 provided a boost to the company providing an underlying profit growth of £51m driven by Argos synergies. It…
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8 November
‘Unparalleled line up of talent’ brought in for JD Christmas ad
Sportswear retailer JD Sports has brought together an “unparalleled line-up of global talent” as part of its 2018 Christmas campaign. A 40s-style Christmas commercial will make its debut on Friday 9 November, during Emmerdale, and will be rolled out across Channel 4, E4, ITV, Sky Sports and BT Sports. The…
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7 November
New £45m Co-op distribution centre to create 1,200 jobs
The Co-op has agreed terms for a new £45m distribution depot to support the retailer’s ambitions for continued growth across London, the south and south-east. The new 661,000 sq ft depot, which will be located just off the A1 at Bedfordshire’s Symmetry Park, Biggleswade and is expected to open in…
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7 November
John Lewis Partnership chairman to step down in 2020
The John Lewis Partnership has announced its chairman Sir Charlie Mayfield is to step down from his role in 2020. The parent company of John Lewis and Waitrose, the John Lewis Partnership is now the largest employee-owned business in the UK with 83,000 employees who are all partners in the…
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7 November
Marks and Spencer sales fall
M&S’ group revenue has dropped by 3.1% to £4,966.9m in its half-year results to the year ending 15 September 2018. Furthermore, its like-for-like food and clothing sales fell by 2.9% and 1.1% respectively which the company said reflected a “tough trading” period. The figures have been impacted by the company’s…
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6 November
Pandora reduces FY expectations amid ‘unsatisfactory Q3’
Pandora has reduced its full-year expectations after experiencing an “unsatisfactory” third quarter in 2018. In Q3 group revenue decreased 3% in local currency due to “timing of shipments, change of inventory levels in the wholesale channel and negative total like-for-like”. Revenue from its estore increased 52% in local currency, up…
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6 November
Debenhams ratings downgraded by Moody’s
Debenhams has had its ratings downgraded for a second time in two months by ratings agency Moody’s. Moody’s Investors Service downgraded the long-term corporate family rating (CFR) of the UK’s largest department store group Debenhams to Caa1 from B2. It has also downgraded Debenhams probability of default rating (PDR) to…
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