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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Aug- 2024 -9 August
CMO sales fall by 17% in H1 amid poor weather
CMO has seen H1 sales fall by 17% to £30.3m, down from £36.9m the prior year, after first quarter sales were hit by poor weather during the period.Over the half-year period, Building sales fell by 13%, while Plumbing was down by 12.4%. Its Tiles business was the most impacted, however,…
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9 August
Riots deter shoppers as footfall falls 4.8%
UK high streets appear to be feeling the full force of ongoing disorder over the past week with footfall declining by an average of -4.8% week on week from Sunday (4 August) to Wednesday (7 August) compared with an average decline of -2.7% in all UK retail destinations. The latest…
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9 August
Under Armour swings to $300m loss amid decline in revenues
Under Armour has reported an operating loss of $300m (£235.0m) for the three months ended 30 June 2024, as its sales dropped across all regions and categories. The group saw its revenues decline 10% to $1.2bn (£940m). In North America revenue decreased 14% to $709m (£555.5m), and international revenue decreased…
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9 August
Asda revenues fall 2.2% in Q2
Asda has revealed that its total revenues fell 2.2% excluding fuel, to £5.3bn for the three months ended 30 June 2024 with like-for-like sales 5.3% lower. Despite this, Asda delivered total revenue growth, excl. fuel, of 2% in H1, with a 2.1% decline in LFL sales. The supermarket also increased…
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9 August
Mountain Warehouse FY sales hit ‘record’ £386m amid new openings
Mountain Warehouse has revealed that store sales rose 7.1% to a “record” £386m in the year to 25 February, owing to the group’s 28 store openings – including its debut in Australia. The group has attributed its performance to shoppers returning to the high street after the height of the…
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8 August
Today’s news in brief-8/8/24
Deliveroo has reported a return to profit in the first half of the year, with earnings reaching £1.3m, a significant turnaround from a loss of £82.9m in the previous year. This success was driven by enhanced consumer retention and expanding partnerships with retailers. Key metrics include a 6% increase in…
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8 August
Ocado Retail launches reusable packaging pilot with Refill Coalition
Ocado Retail has become the first major supermarket to pilot a new reusable packaging scheme in partnership with the Refill Coalition, in an effort to reduce the use of single-use packaging from customers’ weekly shops. The trial, staged across two phases, will use a reusable vessel, developed specifically to deliver…
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8 August
Go Outdoors to open biggest store in Europe
Go Outdoors has announced that it is set to open the largest outdoor store in Europe at the Vangarde Shopping Centre in York on 23 August 2024. The record breaking store boasts 125,000sq. Ft of space with over 380 brands and 30 branded concession areas. These branded areas will include…
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8 August
Deliveroo returns to profit in H1 amid ‘encouraging’ consumer behaviour
Deliveroo has returned to profit following a strong performance in H1, as profits hit £1.3m for the period, up from a loss of £82.9m the prior year, as improved consumer retention and growing retail partnerships boosted sales.GTV was up by 6% to £3.7bn, with a constant currency GTV growth of…
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8 August
Co-op extends 30-year partnership with Wincanton
Co-op has announced a five-year contract extension with logistics provider Wincanton, building on over three decades of successful collaboration between the two companies. Under the new five-year agreement, Wincanton will continue to act as a partner to Co-op, providing facilities management and distribution services from 340,000 sq. ft. The…
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