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 -1 June
Dr Martens profits surge to £214m amid record sales
Dr Martens has hailed a set of “record results” for the full-year period ending 30 March 2022 with its adjusted pre-tax profits surging 43% to £214.3m, after it revealed it sold “more pairs of boots, shoes, and sandals than at any time in its 62-year history”. The footwear brand, founded…
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1 June
Frasers Group buys Missguided out of administration for £20m
Frasers Group plc has bought online women’s fashion retailer, Missguided, out of administration for a cash consideration of £20m. The group has acquired certain intellectual property of Missguided Limited (in administration), Mennace Limited (in administration) and Missguided (IP). Following the completion of the sale, the business will be operated by…
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May- 2022 -31 May
Supermarkets warn of price surge if imperial measurements return
The British Retail Consortium, which represents supermarkets including Sainsbury’s, Asda and Morrisons, has warned the prime minister that returning to imperial measurements could worsen the cost-of-living crisis and further drive up inflation. The comment comes after the BEIS is to launch a 12-week consultation on Friday made up of business…
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31 May
Violence and abuse against retail workers tripled over pandemic
Retail workers were subjected to a “huge” rise in violence and abuse over the pandemic, with incidents almost tripling to 1,301 per day in 2020/21, compared to 455 in 2019/20 according to the British Retail Consortium (BRC). The BRC’s crime survey found that of the 1,301 incidents recorded every single…
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31 May
Nelson Peltz joins Unilever as non-executive director
Nelson Peltz, American billionaire and activist investor, will join London-listed Unilever from July 20 and serve on the board’s compensation committee in a non-executive capacity. Peltz is CEO and a founding partner of Trian Fund Management, an investment management firm. He has previously served on the boards of several major global…
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31 May
UK footfall forecast to rise by 8% over Jubilee weekend
Following a modest rise in footfall last week, retail experts expect the Platinum Jubilee and school half term holiday to cause footfall in retail destinations to surge by as much as +8% over the bank holiday weekend. According to Springboard, it anticipates an uplift of as much as +10% in…
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31 May
B&M appoints CEO successor as FY revenues dip
B&M has revealed that sales dipped in its latest full-year results, alongside the announcement of a new CEO, as revenue fell by 2.7% to £4.7bn against the prior year, despite increasing 22.5% on a two-year basis against FY20. Its UK fascia revenue decreased 4.1% year-on-year, largely driven by a one-year…
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31 May
Missguided collapses into administration, 140 jobs at risk
Online fashion retailer, Missguided, has fallen into administration after failing to secure a rescue bid for the company. According to the Guardian, the collapse puts approximately 140 jobs at risk, with over 80 employees having reportedly been made redundant immediately. Teneo Financial Advisory revealed Dan Smith, Daniel Butters and Benji…
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30 May
Asos and Curry’s among retailers to warn Sunak against OST
A group of 11 retailers, including Asos, Currys, and Gymshark, have reportedly urged the government to abandon plans for an online sales tax warning that it would “hurt, not help the high street”. According to The Telegraph, in a joint-letter to the chancellor the retailers noted that sales tax would…
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30 May
Issa brothers on verge of dropping out of Boots bid
Asda owners, the Issa brothers, are reportedly on the verge of walking away from their bid for a Boots takeover due to a disagreement on price, according to Bloomberg. The news outlet’s report said that Zuber and Mohsin Issa are getting cold feet after Boots’ owner, Walgreens, asked them for…
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