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 -6 November
Morrisons reports 5.6% sales increase for Q3
‘Big 4’ retailer Morrisons has reported a 5.6% increase in like-for-like (LFL) sales for the 13 weeks to 4 November 2018, comprising contributions from retail of 1.3% and wholesale of 4.3%. According to the group retail LFL sales growth eased slightly quarter on quarter “without the impact of the favourable…
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6 November
Primark’s like-for-like sales slide
Like-for-like sales at Primark saw a 2.1% decline in its financial results to the year ending 15 September 2018. Despite this, the budget fashion chain saw revenue increase by 6% to £7.47bn. This was attributed to an increase in selling space as this year, the company expanded its portfolio to…
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6 November
Marks and Spencer half-year profits expected to drop
M&S is expected to report a double-digit drop in its half-year profits next week, according to predictions by City analysts. The retailer is set to post a fall in underlying pre-tax profits by 14% to £188m. Its pre-tax profits for the first half of the year are set to be…
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2 November
B&Q abandons Black Friday promotion
B&Q has announced it is “abandoning” Black Friday in favour of providing its customers with “year-round” low prices across the store. The DIY retailer is sticking with its everyday low prices model, which went store-wide with a £100m investment from July this year and has been in place on kitchens…
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2 November
RSPH names Grimsby as ‘unhealthiest UK high street’
The Royal Society for Public Health (RSPH) has named Grimsby, North East Lincolnshire, as the ‘unhealthiest UK high street’. The announcement came after a league table published by the group ranked 70 of Britain’s major towns and cities by the impact of their high streets on the public’s health and…
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2 November
WHSmith fined £337,500 after customer falls through trapdoor
Newsagent chain WHSmith has been fined £337,500 after a customer fell almost three metres through a trapdoor, suffering serious injuries. WHSmith pleaded guilty to health and safety breaches leading to the fine, after the trapdoor at its Taunton store, located in the greetings card isle, was left open. The retailer…
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1 November
Bank of England puts hold on interest rates due to Brexit uncertainty
The Bank of England has placed interest rates on hold following growing uncertainty around Brexit. A vote to leave rates unchanged held by the bank’s Monetary Policy Committee (MPC) was in favour of leaving rates at 0.75% by 9-0. Financial markets are currently indicating that rates will not rise until…
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1 November
Pets at Home appoints former Argos boss as COO
Pets at Home has appointed David Robinson as COO of retail and Jane Balmain as interim CEO of the Vet Group’s First Opinion business. Robinson has held senior roles at Homebase, Sainsbury’s and Dixons Retail and spent almost 15 years with the Home Retail Group, most recently as COO for…
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1 November
Mothercare culls 200 head office jobs
Mothercare has axed around 200 staff from its head office in an attempt to cut costs and save up to £20m. The job cuts are part of Mothercare’s restructuring program and 50 new jobs are expected to be created in the department, bringing the net job losses to roughly 150.…
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1 November
600 jobs at risk as Crawshaws enters administration
Meat retailer Crawshaws has announced it has entered administration, putting 600 jobs at risk across its 42 stores. A Crawshaws spokesperson told Retail Sector that the company blamed its financial woes on “increasing competitor pressures on the high street”, namely “discount activity from the likes of Aldi and Lidl”. According…
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