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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Jul- 2024 -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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30 July
What to expect at Europe’s 100% plant-based trade show
Leading plant-based manufacturers and solutions providers will form a comprehensive exhibition, covering everything from end products to packaging, ingredients and logistics. Here, attendees can source innovative plant-based products, gain inspiration, discover solutions for their business and network with other business owners. Exhibitors are travelling from around the world to demonstrate…
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30 July
A.F. Blakemore appoints new CFO
A.F. Blakemore has announced that Ian Kellett will join the company as chief financial officer from 1 August 2024. Kellett brings a depth and breadth of experience from the retail and hospitality industry. More recently he spent six years as CFO at Parkdean Resorts, where he led the transformation of…
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30 July
Ocado to extend debt maturity by raising £600m in bonds
Ocado has extended the maturity of its debt by raising £600m in bonds which are due for repayment in 2029, an announcement on the London Stock Exchange has revealed, in a bid to refinance a tender offer of existing bonds due in earlier years. It comes as the group launched…
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30 July
Shop price inflation remains unchanged in July
Shop Price annual inflation remained unchanged at 0.2% in July but economic uncertainty could lead to future rises, the British Retail Consortium (BRC) has warned. The BRC-NielsonIQ Shop Price found Non-Food items remained in deflation at -0.9% in July, up from -1.0% in the preceding month. This is in line…
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30 July
Under 50% of staff confident in Asda’s strategy, survey finds
Asda is reportedly facing a crisis of confidence from its staff after only 47% said they were confident in the company’s long-term strategic plan in its annual survey, according to The Telegraph. The outlet reported that only 48% of the 75,591 employees who participated in the supermarket’s survey felt they…
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30 July
Hoka and Ugg brands boosts Deckers Q1 sales to $825.3m
Global apparel and footwear brand Deckers has reported a 22.1% increase in net sales to $825.3m (£641.6m) for the first fiscal quarter ended June 30, 2024. The group attributed this Q1 growth to its Hoka and Ugg brands which performed particularly well. Hoka’s net sales were up 29.7% to $545.2m…
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