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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Apr- 2022 -6 April
ASA bans Lidl’s ‘misleading’ Tesco comparison ads
Two Lidl adverts showing how customers can make big savings at the supermarket compared to Tesco have been banned following a complaint from rival discounter Aldi. The two adverts in question ran in Scotland and claimed that customers can save over 35% and over 30% respectively at Lidl, compared to…
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6 April
Aldi to donate almost 250,000 meals over Easter
Aldi has announced it will support charities, community groups and food banks throughout the UK by donating almost 250,000 meals to people in need during the Easter school holidays. Around 105 tonnes of food will be donated throughout the UK, with more than 187,000 meals expected to be donated to…
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6 April
Skechers adds Cinedigm CCO to board of directors
Skechers has announced that Yolanda Macias has been appointed to its board of directors, bringing the total number of directors to eight. The Skechers board is now comprised of founder, chairman and CEO Robert Greenberg, president Michael Greenberg, chief operating officer David Weinberg, as well as independent members Katherine Blair,…
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6 April
Sosandar set to welcome ‘record’ results in FY22
Sosandar is set to achieve record sales in what it dubbed a “milestone year” for the retailer, as it expects to report revenue in excess of £29m, up 138% year-on-year. Meanwhile, EBITDA loss will be reduced by over 80% from a loss of £2.92m in FY21, following six consecutive EBITDA…
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5 April
Retail footfall drops 22.9% across UK
Footfall fell by 22.9% compared to 2019 in the non-food sector across the UK, although footfall is up 9.9% compared to the previous month due to “unseasonably warm weather”. According to Ipsos Retail Performance, the retail sector performed the strongest at -14.9% compared to pre-Covid levels, while footfall on the…
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5 April
Supermarket sales remain in decline amid online pandemic comparatives
Total till sales at UK supermarkets fell -4.1% in the last four weeks ending 26 March, the lowest sales growth so far recorded in 2022, according to the latest data released by NielsenIQ. However, it said this is the final figure measuring sales growth against the high lockdown comparatives, indicating…
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5 April
CD&R begins £500m Morrisons property sale as it warns on profits
The new owner of Morrisons, Clayton Dubilier and Rice, has reportedly begun plans to sell a £500m property portfolio months after completing its £7bn takeover, after the grocer also warned its profits could be impacted by inflation and war in Ukraine. Morrisons has revealed it experienced a fall in earnings…
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5 April
Ted Baker launches formal sales process as bids increase
Ted Baker has announced it has officially launched a formal sales process after receiving a number of unsolicited offers from US Private equity firm Sycamore Partners. In this context, the company has agreed with the UK Takeover Panel that any discussions in relation to an offer for the company may…
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5 April
Moonpig annual revenues to hit £300m
Moonpig Group plc has announced it expects annual revenues to hit £300m in the financial year ending 30 April 2022, reflecting the temporary impact of Covid-19 on customer behaviour in late December and January. As the group’s trading performance has “remained strong”, Moonpig’s expectations for underlying revenues in FY22 remain…
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5 April
The Works forced to close stores amid cyber security incident
The Works has confirmed it has been victim to a cyber security incident involving unauthorised access to its computer systems, which led to several temporary store closures. The retailer said the incident caused “some limited disruption” to trading and business operations, including the closure of some stores due to till…
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