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- 2022 -14 July
Brunello Cucinelli H1 revenues jump 32% to £351m
Casa di Moda Bruno Cucinelli has revealed net revenues of €415.2m (£351m) for the first half of 2022 ending June 30, up +32.3% at current exchange rates (+28.3% at constant exchange rates) compared to H1 2021. The fashion house reported significant growth in all areas: Americas +52.7%, Asia +27.2%, Europe…
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14 July
Topps Tiles stands behind chairman despite shareholder revolt
Bathroom and kitchen flooring retailer Topps Tiles has revealed it is set to stick with its chairman Darren Shapland despite seeing a number of its shareholders vote against his re-election at its AGM back in January. During its AGM at the start of the year, some 22% of its shareholders…
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14 July
Pepco Q3 revenues jump 17.4% amid expansion plans
Pepco Group has reported its group revenues increased 17.4% year-on-year to €1.21bn (£1.02bn) for the third financial quarter ending 30 June 2022 (Q3), as sales increased 4.9%. Pepco said its accelerated store expansion programme was the group’s single biggest driver of value creation, and the company is on track to…
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14 July
Retailers welcome ‘record’ credit surge in Q1
The retail store and online credit sector welcomed its “faster ever” start to the year, as new business volumes reached £2.1bn in the opening quarter, according to the Finance and Leasing Association. This marks the highest ever level of borrowing for Q1 with an increase of 12% compared to the…
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14 July
Dr Martens trading remains steady in Q1
Dr Martens has told investors its trading since the start of the year is in line with the guidance set out at its FY trading announcement for both the half and full year, after a period of strong trading in its first quarter. In its latest update, the boots retailer…
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13 July
IKKS Paris opens second London store
French fashion and lifestyle brand IKKS Paris has opened a second UK store on King’s Road, deepening the brand’s entry into the UK following the flagship store at 3 Carnaby Street. The 1,300 sq ft store opens at 109 King’s Road and carries the womenswear, and junior lines with menswear…
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13 July
Superdrug launches talent competition with TikTok campaign
Superdrug is partnering with TikTok to run the #SuperShow talent competition where entrants are to complete three challenges inspired by products available at Superdrug. The talent show campaign is said to be a “first of its kind” for beauty retailers and will see Superdrug take over TikTok UK’s ‘For You’…
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13 July
Boohoo to start charging £1.99 returns fee to offset shipping costs
Online fashion retailer Boohoo has become the latest retailer to start charging shoppers for returns as it looks to offset increased shipping costs. First reported by Retail Week, the move, which came into effect from 4 July, will see customers charged £1.99 to return goods with the sum taken out…
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13 July
Lego ‘indefinitely’ halts operations in Russia
Lego will cease its commercial operations in Russia after previously pausing shipments to the country back in March. In a statement to Retail Sector, a spokesperson said: “The LEGO Group paused shipments to Russia in March. Given the continued extensive disruption in the operating environment, we have decided to indefinitely…
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13 July
Justmylook debuts first flagship store
Online beauty retailer Justmylook is due to make its debut in physical retail, with the opening of its first store this Wednesday. The store is located in Brighouse, West Yorkshire. Fashioned in a light industrial theme accentuated with feature lighting, the space will be home to over 40 brands, from…
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