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 -1 August
Adidas revenues jump 11% in Q2
Adidas’ currency-neutral revenues increased 11% in the second quarter of 2024, driven by the “strong momentum of the underlying business”. In euro terms, revenues grew 9% to €5.8bn (£4.8bn). Operating profit amounted to €346m (£292m), reflecting an operating margin of 5.9%. Footwear revenues in Q2 increased 17%, driven by the…
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1 August
Pets at Home Q1 revenue up 1%
Pets at Home has announced that its total group revenue rose 1% up to £441.1m for the 16 weeks ended 18 July 2024, compared with the same period last year. Alongside this, its consumer revenue rose 1.5% to £576.6m supported by growing average customer spend and growth in active Pets…
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Jul- 2024 -31 July
Morrisons extends partnership with Just Eat
Morrisons has expanded its partnership with Just Eat to include groceries from its supermarkets as well as deliveries from its cafes and Morrisons Daily convenience stores. The partnership was initially rolled out to Morrisons Cafes in 2022, followed by 60 Morrisons Daily convenience stores in December 2023, and today serves…
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31 July
Aldi to open four new London stores by end of 2024
Aldi has announced it is set to open four new stores in the capital between now and the end of the year. New stores in Leytonstone and Beckton are set to open in the next couple of months, while Holloway Road and Muswell Hill are also gearing up to welcome…
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31 July
John Lewis launches retail media platform
John Lewis has announced a new retail media platform to help brands connect with customers shopping online. According to the group, the move will allow brands to create and manage their own campaigns via banner ads and sponsored product listings. It also offers users a clear dashboard showing exactly how…
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31 July
Fenwick appoints new CEO
Fenwick has appointed Nigel Blow, the current CEO of department store Morleys, as its new chief executive officer. His appointment comes as Fenwick CEO John Edgar leaves business after four and a half years, as part of “wider changes” to its senior management structure. The appointment of Blow, who joins the…
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31 July
Prada’s revenues hit €2.5bn in H1
Prada Group’s revenues increased 17% YoY to €2.5bn (£2.1bn) during the first half of the year ended 30 June. Retail sales for the group increased 18% YoY to €2.2bn (£1.8bn), driven by like-for-like and full-price volumes. EBIT reached €575m (£485m). Sales at Prada during the first half of the year…
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31 July
Wickes HY LFL revenues fall 3.9% to £799.9m
Wickes has revealed that its revenue fell 3.9% like-for-like down to £799.9m for the six months ended 29 June 2024, despite a strong performance from its retail division. It comes as the company saw its design and installation revenue fall 18.3% like-for-like down to £166.7m. However, the company’s retail revenue…
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31 July
Vinted targets $5bn valuation with latest share sale
Online marketplace for second hand goods, Vinted, has reportedly launched a share sale that could value the business at as much as $5bn (£3.9bn), Sky News has revealed. It comes as a secondary stock offering was announced this month to investors. This would involve existing shareholders offloading part or all…
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30 July
Today’s news in brief-30/7/24
Andrew Keith, CEO of Selfridges, has announced his departure to pursue new ventures, marking the end of his tenure characterised by navigating challenges including the pandemic and ownership changes. André Maeder will succeed him as CEO of Selfridges Group in the UK, focusing on innovation and customer experience amid potential…
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