Guidance
This coverage focuses on trading guidance, financial outlooks, and performance updates issued by UK retail businesses. Retail Sector reports on company forecasts, profit warnings, earnings revisions, and strategic updates that shape investor sentiment and corporate planning across the retail industry. Coverage includes analysis of market reactions, executive commentary, and sector-wide trends influencing guidance from leading retailers. For retail professionals, this category provides critical insights into financial health, market expectations, and business confidence driving decision-making within the UK retail economy.
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Apr- 2020 -3 AprilPeople Moves
Fenwicks CEO and non-executive chair to exit
Department store chain Fenwicks has announced that its CEO and non-executive chair are to exit the company. Robbie Feather will step down as chief executive and be succeeded by John Edgar, an “experienced” retail executive who spent periods as chief financial officer of both Selfridges and Harrods. Most recently Edgar…
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2 AprilNews
Frasers Group to cut bosses’ salary to £40k amid April pay pledge
Mike Ashley’s Frasers Group has reportedly reduced the salary of its executive team to £40,000 and has pledged to pay all his staff up until the end of April. According to The Times, the executive team has taken a voluntary pay cut in a “show of support towards securing the…
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2 AprilCoronavirus
Pets at Home to beat guidance amid spiked demand
Pets at Home has revealed that its closing weeks of full-year trading saw “exceptional levels of demand” amid the ongoing coronavirus pandemic. In the period ended 26 March 2020, existing customers increased their average basket size, whilst new customers have accessed its pet products and healthcare services. Trading was largely…
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1 AprilClothing & Shoes
Laura Ashley administrators axe 268 staff, 1669 furloughed
The joint administrators appointed to Laura Ashley revealed they have made 268 members of staff redundant and have furloughed a further 1669. Last week, Rob Lewis and Zelf Hussain of PwC were appointed as joint administrators of Laura Ashley Holdings plc and since then they have continued to trade the…
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Mar- 2020 -31 MarchCoronavirus
Matalan employees furloughed, ‘massive win’ for safety says GMB
Matalan has announced all warehouse staff will be offered furlough leave in light of the coronavirus pandemic. The GMB said the move was a “massive win for victory and common sense”, and came after the union and workers put “sustained pressure” on the retailer. The union said that the “massive…
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30 MarchComment
What are your legal rights if your job has been affected by COVID-19?
Ever since the coronavirus outbreak gathered speed, life in the UK has largely been put on hold. From staff being unable to work due to self-isolation, to workers needing to stay at home to care for their children after schools were ordered to close, the impact on many businesses and…
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30 MarchShopping Centres
Hammerson suspends dividend after collecting just 37% of Q2 rent
Shopping centre owner Hammerson has revealed it collected only 37% of its Q2 rent bill and has suspended its dividend amid the coronavirus outbreak. In a trading update released this morning (30 March), Hammerson said that with figures adjusted for rent deferred, switched to monthly payment, and a nominal proportion…
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30 MarchOnline & Digital
Beaverbrooks closes website and warehouse operations
Beaverbrooks has closed its website and warehouse operations until further notice. Anna Blackburn, managing director at Beaverbrooks, said the company made the “difficult decision” to close its website and warehouse operations to “protect” its colleagues, their families and the wider community. She added: “As a family owned business, the safety…
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27 MarchCoronavirus
What we know about furlough leave and the CJRS
HMRC published details of the Coronavirus Job Retention Scheme (CJRS) on 26.3.20 which are available here: https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme Key points include: Employees that employers can claim CJRS for For the purposes of CJRS, the definition of employee would include workers and agency workers provided they are subject to PAYE i.e. this…
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26 MarchClothing & Shoes
Quiz expects March results ‘materially’ below board expectations
Fashion retailer Quiz has warned that its March revenues and margins are expected to be “materially low” compared with the board’s expectations amid the coronavirus pandemic. Quiz said that prior to the Covid-19 outbreak, its year-to-date performance was set to be in line with expectations. Quiz said since the start…
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