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- 2023 -9 November
B&M raises guidance as H1 sales rise 10%
B&M has upped its full-year outlook following a period of strong trading in H1, as sales rose by 10.4% to £2.5bn over the period. In the half-year ended 23 September 2023, profit-before-tax hit £222m, up from £201m the prior year, while adjusted EBITDA rose by 16.1% to £269m. In light…
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9 November
Bridgestone takes 5% stake in Halfords business
Halfords has announced that global mobility company Bridgestone has agreed a 5% stake in its Avayler business for $3m (£2.4m). Avayler was launched in July 2021, having been developed in-house by Halfords to manage services across garages, mobile vans and retail stores. It is a ‘software as a service’ (SaaS)…
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9 November
WH Smith revenues up 28% to £1.7bn in FY23
WH Smith has reported that total group revenues increased 28% to £1.7bn for the year ended 31 August, up from a total of £1.4bn in 2022, despite high street trading profits dipping from £33m in 2022 to £32m. The retailer did particularly well within the travel category, which saw trading…
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8 November
Today’s news in brief-8/11/23
JD Sports is facing scrutiny over a £3.5m non-compete deal with its former CEO, Peter Cowgill. This agreement, signed in September of the previous year, was intended to prevent Cowgill from working with or advising competitors for the next two years. However, it has come to light that Cowgill has…
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8 November
Superdrug to open new store in Bristol
Superdrug will open its doors to a brand-new store on Thursday 9 November at Bristol Gallagher Retail Park, creating 35 new jobs in the new 7,007 sq ft outlet. The store will also feature its very own Beauty Studio area where customers can access “professional treatments at affordable prices”. Within…
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8 November
The O2 sales grow 47% in October
The O2’s Entertainment District, which is owned and operated by Waterfront Limited Partnership, has reported a sales uplift of 47% in October, with year-to-date sales up 39% compared to 2022. Total footfall across the whole scheme has seen an uplift of 22% compared with October 2022. The trading success has…
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8 November
BRC welcomes government pledge to bring down inflation
The British Retail Consortium (BRC) has welcomed the government’s pledge to bring down inflation as outlined in the King’s Speech yesterday (7 November). However, the body has criticised the decision to omit retail crime from its pledge for future crime legislation. As part of his speech the King announced that…
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8 November
Lidl becomes first supermarket to launch body cameras for all staff
Lidl GB has become the first supermarket to roll out body-worn cameras across all its stores as standard, as it looks to ensure the “safety and security of customers and colleagues” amid a rise in retail crime. From the end of the month, stores across its network will start to…
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8 November
M&S profits soar 75% to £360m in H1
M&S has reported its profit before tax soared by 75.3% to £360.2m in the first half of the year, up from £205.5m the prior year, as its Food and Clothing and Home businesses both outperformed the market. Overall sales increased by 10.8% to £6.1bn in the period, compared to £5.5bn…
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8 November
Poundland expands clothing offering across UK&I
Poundland owner Pepco Group has completed the transition to new clothing ranges at the discount retailer, bringing its family fashion offer to 560 stores across the UK and Ireland, including all 56 former Wilko locations that have now reopened. The transition, which took place over the last eight weeks, meant…
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