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- 2024 -27 November
Reiss opens new store at Metrocentre
Reiss has announced the opening of its brand new store at Metrocentre shopping destination in Newcastle. The 3,933 sq ft store in lower Red Mall will stock the brand’s premium collection of fashion and wardrobe pieces. The store is also home to the region’s only Reiss childrenswear collection. In addition,…
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27 November
JD Sports acquires Courir in €520m deal
JD Sports has completed its acquisition of French sneaker retailer Group Courir for €520m (£433m), which will be paid through a combination of existing cash and a drawdown on the group’s revolving credit facility. The acquisition, which was first announced on 9 May 2023, follows receipt of conditional clearance from…
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27 November
High street should ‘look beyond retail’, says new Lords report
The high street has been advised to “look beyond retail” in order to reverse its decline, according to a new report from the House of Lords. This is one of the conclusions of a new report, ‘High Streets: Life beyond retail?’, published today (27 November) by the cross-party House of…
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27 November
DFS secures SBTi approval for emissions reduction targets
Sofas retailer DFS Furniture has announced that its near-term science-based emissions reduction target has been approved by the Science Based Targets initiative (SBTi). In the near term, the group aims to reduce Scope 1 and 2 greenhouse gas (GHG) emissions by 55% by 2033 and, additionally, that 73% of Scope…
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27 November
Around 92% supermarket loyalty schemes offer ‘genuine’ savings, CMA finds
The Competition and Markets Authority (CMA) has found that people who are members of a loyalty scheme can almost always make a genuine saving on the usual price by buying loyalty priced products. Having analysed around 50,000 grocery products on a loyalty price promotion, the CMA found very little evidence…
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27 November
Frasers acquires South African sports retailer Holdsport
Frasers Group has expanded its global footprint through acquiring South African sporting, outdoor and recreation goods company, Holdsport.It acquired the retailer for an undisclosed sum from Old Mutual Private Equity (OMPE) and Holdsport’s management, and the transaction is expected to close in the coming months. Holdsport operates across retail, wholesale,…
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27 November
Pets at Home HY PBT up 14% to £54.5m
Pets at Home has revealed that its underlying profit-before-tax rose 14.1% to £54.5m for the half year ended 10 October 2024. The retailer stated that this was supported by the strong growth in its vet group, with retail impacted by the slower sales growth. Alongside this, its total group revenue…
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26 November
Today’s news in brief-26/11/24
AO World has raised its full-year profit forecast to between £39m-£44m after reporting a 30% rise in pre-tax profits to £17m for the six months ending 30 September. Despite adverse summer trading conditions due to wet weather, which affected cooling product sales, AO’s B2C retail revenue grew 13%. Group revenue…
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26 November
Next triples presence at Bluewater with new upsized store
Next is growing its presence at Bluewater Kent by tripling its footprint at the shopping centre. The retailer will relocate into one of its largest stores in the UK as brands increasingly look to invest in the best locations. Next is upsizing from its existing 44,600 sq ft store into…
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26 November
Sosandar HY losses narrow
Sosandar has revealed that its losses have narrowed to £0.7m, down from £1.3m, for the half year ended 30 September 2024. The brand put this positive swing down to margin enhancement and continued careful cost management. However, the company’s revenues fell to £16.2m, down from £22.2m, as the group continued…
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