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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Mar- 2022 -16 March
Inditex FY21 profits surge 199% despite Omicron impact
Inditex, the parent company of Zara, has reported its income before tax surged 199% to €4.19bn (£3.53bn) between 1 February 2021 and 31 January 2022 (FY21), rising year-on-year from €1.4bn (£1.17bn). Net income also surged 193% to €3.2bn (£2.73bn) compared to €1.1bn (£9.29m) in FY20. Additionally, sales increased 36% year-on-year…
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16 March
BRC calls for reform on Apprenticeship levy to create 8,000 new jobs
The British Retail Consortium (BRC) has written to the secretary of state for education calling on the government to introduce an additional 8,000 apprenticeships across retail to the Apprenticeship Levy. It also revealed there are three main changes which could improve the functioning of the levy for businesses, allowing more…
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16 March
Clarks appoints former New Balance lead as CEO
Clarks has appointed Jonathan Ram as its new CEO, with Ram set to join the business next month. He brings with him extensive footwear and apparel leadership experience. He was most recently group president of Global Activewear at HanesBrands, Inc., where he led the growth of the activewear business across…
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16 March
Retail sales monitor shows ‘cause for optimism’, Bira says
The British Independent Retailers Association (Bira) has said there is “cause for optimism” after the recent BRC-KPMG retail sales monitor for February 2022 which revealed that UK retail sales increased 2.7% on a Like-for-like basis from February 2021. According to the BRC the performance comes on top of an improved…
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15 March
Annual quest to find the UK’s fastest growing online retailers begins
Despite restrictions easing, the pandemic appears to have altered our shopping habits forever. The boom in online shopping during the coronavirus pandemic has seen many of us become increasingly more comfortable shopping online, with global e-commerce jumping to $26.7trn (£20.4trn). New data from Brightpearl, a popular operating system for retailers,…
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15 March
Aldi offers employment to refugees from Ukraine
Aldi has announced it is welcoming applications from Ukrainian refugees with over 8,000 roles available, subject to their eligibility for UK employment. The vacancies span a range of roles including assistant store manager, store assistant, stock assistant, selector, logistics assistant, as well as other office-based administration roles. Overall, Aldi has…
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15 March
Gap opens first UK shop-in-shop on Oxford St with Next
Gap Inc. and Next Plc announced the opening of the first Gap-branded shop-in-shop within Next’s largest West End store on London’s Oxford Street, as part of a new joint venture franchise relationship between the two companies. The venture will also see Next manage Gap’s e-commerce business as well as further…
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15 March
H&M hails Q1 sales growth of 23%
The H&M Group has reported a net sales increase of 23% in the first quarter of FY22, hitting SEK 49.16bn (£39.32bn) from 1 December 2021 to 28 February 2022 (Q1). Additionally, net sales in local currencies grew year-on-year by 18% in the quarter. In its previous full-year results for FY21,…
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15 March
Good Food Group launches new digital platform
A new ‘match-making’ platform has been launched by food consultancy The Good Food Group in a bid to partner UK retail buyers with up-and-coming brands. The digital platform is designed to help “time-poor buyers and new brands find each other in a product discovery process”. The introduction portal is an…
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15 March
DFS revenues up 17.4% to £561.1m
DFS has announced its revenue increased by 17.4% on the pre-pandemic two-year comparator to £561.1m, during the 26 week-period ended 26 December 2021. The firm said this demonstrates “success in strategy” to offset and pass-through inflationary pressures. According to the firm, the scale of its business has widened as it…
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