Belgium
This coverage examines developments in Belgium’s retail sector with relevance to UK-based retail professionals. Reporting includes market entries and exits by UK retailers, shifts in consumer behaviour, regulatory changes, property trends, and macroeconomic factors influencing cross-border operations. The content supports executives and managers evaluating opportunities, partnerships, and risks in the Belgian market.
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Sep- 2019 -10 SeptemberHigh Street
Sports Direct among bidders for Links of London
Sports Direct is one of two final bidders attempting to buy jewellery brand Links of London from current owner Folli Follie (FF Group), according to reports from Sky News. FF Group appointed firms Deloitte and Savigny to find a buyer for Links in late August, after the brand pulled out…
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Aug- 2019 -21 AugustHigh Street
Sports Direct approaches mid-tier firms in race for new auditor
Sports fashion retailer Sports Direct has approached mid-tier accountancy firms BDO and Mazars as it races to appoint a new auditor, according to a report by the Financial Times (FT). FT said the retailer is aiming to avoid government intervention and a possible suspension from the London Stock Exchange (LSE)…
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14 AugustHigh Street
Grant Thornton quits as Sports Direct auditor
Sports Direct has confirmed accountancy firm Grant Thornton is to step down from its role as auditor. Sports Direct said on 13 August 2019 it received notice from Grant Thornton, “following a review of its client portfolio”, it intended not to seek reappointment as the company’s auditors and will cease…
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Jul- 2019 -29 JulyHigh Street
Sports Direct hit with €674m tax bill from Belgian authorities
Shares in sports fashion retailer Sports Direct plummeted by as much as 27% to 166.6p in early trading today, later recovering to 208p, following its chaotic results announcement last Friday (26 July). The results were expected to have been announced at 7am ahead of the market opening, less than an…
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Jun- 2019 -27 June
Using packaging to fight back and drive sales
According to the latest British Retail Consortium figures, May 2019 saw the UK high streets biggest decline since the mid-1990s with overall retail sales falling by 2.7%. This was also reflected online where sales grew by the weakest amount ever recorded. There is no question that retail conditions are extremely…
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Feb- 2019 -25 FebruaryClothing & Shoes
Primark owner reports 4% sales boost for H1 2019
Associated British Foods (AFB), which owns Primark, has announced that sales at the retailer are expected to be 4% ahead of last year for the 24 weeks to 2 March 2019, driven by increased retail selling space. The group said the results will be partially offset by a 2% decline…
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Jan- 2019 -18 JanuaryClothing & Shoes
New Look’s Belgium outfit files for insolvency
The board of New Look Retail Group has announced its Belgium arm (NLB) has filed for insolvency following a review of its financial and trading position. NLB, which currently operates six stores in Belgium, said its board concluded it is “unable to continue trading”, and has decided to therefore wind…
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17 JanuaryClothing & Shoes
Primark store expansion boosts festive sales
Fashion retailer Primark recorded a 4% increase in sales over the festive period buoyed by the continued expansion of store space. In a trading update for the 16 weeks ending 5 January 2019, its parent company Associated British Foods (AB Foods) said sales growth was driven by increased retail selling…
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Nov- 2018 -1 NovemberDIY
Carpetright announces HY trading to be ‘heavily impacted’ by restructuring
Carpetright has said trading in its half-year update for the 26-week period ending 27 October was “heavily impacted” by the company’s restructuring which included 67 store closures. It said like-for-like performance remained negative in this second part of the period however “there was an improvement in the trend, as the…
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Sep- 2018 -18 SeptemberClothing & Shoes
H&M posts 9% sales increase
H&M’s group sales have increased by 9% according to the fashion chain’s Q3 financial update. Performance exceeded analysts’ expectations, resulting in the company’s highest share increase in 17 years. The firm attributed to the results to investment in its online offerings and logistics systems. Investors rallied to what seemed to…
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