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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Jun- 2022 -10 June
The Screwfix Foundation raises £10m since launch
Kingfisher has revealed that Screwfix’s customers and colleagues have raised £10m for The Screwfix Foundation since launching in 2013, in a bid to support charities and non-profit organisations across the UK. Through the company’s partnership with micro-donation charity Pennies, The Screwfix Foundation has received more than 29 million micro-donations from…
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10 June
THG to gift shares to 500 staff
Online beauty retailer THG has announced it is to gift shares to 500 of its employees. The Manchester-based firm said it will reward the selected members of staff below executive level subject to “achievement of various targets”. THG said an application has been made to the Financial Conduct Authority (FCA)…
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10 June
ProCook issues FY23 profit warning amid ‘challenging’ market
ProCook has issued a warning over its profits for the upcoming financial year, as its trading has been impacted by “increasingly challenging market conditions” since its Q4 update, with customers affected by the “exceptional” pressures on spending. The kitchenware group noted that in the current quarter, it is also trading…
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10 June
Sainsbury’s opens new Starbucks cafe in New Cross amid partnership deal
Sainsbury’s has opened a new Starbucks café in its New Cross Gate store, forming part of a wider expansion plan between Sainsbury’s and Starbucks across the UK, with a view to launch 30 new Starbucks cafés within Sainsbury’s stores in the next twelve months. Elizabeth Newman, Sainsbury’s director of commercial…
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10 June
Reliance Industries and Apollo in £5bn bid for Boots
Reliance Industries has teamed up with private equity firm Apollo to make a £5.5bn binding offer for Boots, according to Bloomberg. The deal will reportedly allow its US parent company, Walgreens Boots Alliance, to keep a minority stake. However, the size of the stake is still open to negotiation. Reliance…
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10 June
Morrisons welcomes CMA’s green light for CD&R takeover
Morrisons welcomed the announcement today by the Competition and Markets Authority (CMA) that it has accepted the undertakings given by CD&R in relation to its acquisition of Morrisons. The regulator gave the takeover the green light for the £7bn takeover after agreeing to CD&R’s offer to sell a number of…
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9 June
Waitrose redistributes £10m meals with FareShare
Waitrose has revealed its partnership with FareShare, a charity network that collects food from retailers and turns them into food parcels or meals for people in the community, which has redistributed over £10m meals. Waitrose distribution centres in Enfield and Greenford also deliver meat, fish, dairy, fruit and vegetables, to…
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9 June
Aldi voted top supermarket by British Suppliers
Aldi, for an eighth year running, has been voted as the UK’s leading supermarket for complying with the Groceries Supply Code of Practice, according to a poll by the Groceries Code Adjudicator (GCA), the regulator for the sector. Aldi scored 98% this year compared to 97% in 2021, its highest…
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9 June
Pepco Groups posts strong H1 as profits surge 28%
Pepco Group has hailed a strong first half of the year after its underlying profit before tax surged 28.5% to €144m (£123m). The performance comes after it also saw its revenues increase 18.9% to €2.37bn (£1.9bn) during the six month period ending 31 March. On a like-for-like basis sales also…
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9 June
DFS welcomes double digit growth in Q3
DFS has welcomed double digit growth in its order volume in its third quarter of trading, compared to the FY19 pre-pandemic period. The volume growth in the period ending 27 March 2022 was achieved despite the group offsetting “significant” cost inflation through mitigation and retail price increases. The retailer noted…
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