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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Sep- 2021 -14 September
JD Sports H1 profits soar to £440m
JD Sports has seen its profits before tax and exceptional items soar to £439.5m in H1 FY21, up from £61.9m in the same period of FY20 and £158.6m in FY19. The sports fashion retailer reported a 52.7% year-on-year climb in group revenues to £3.89bn in the 26-week period ended 31…
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13 September
Waitrose expands vegetarian range to meet growing demand
Waitrose has announced an expansion to its vegan and vegetarian ranges to satisfy growing demand with the launch of two new ranges, Plantlife and GoVeggie. The products, which form part of the recently launched Holistic Living brand, launched on 8 September with more products coming in October 2021. The launch…
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13 September
Sainsbury’s set to acquire 13 sites from property investment firm
Sainsbury’s is set to acquire the freehold of 13 stores it currently leases from property investment firm Supermarket Income Reit. The deal, which was revealed in an update from Supermarket Income Reit in regards to its joint venture with British Airways Pension Trustees Limited, revealed that Sainsbury’s had exercised a…
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13 September
Columbia Sportswear appoints new Mountain Hardwear president
Columbia Sportswear Company has announced the appointment of Troy Sicotte as president of its Mountain Hardwear brand. Sicotte previously served as vice president of sales for the past three years. Sicotte co-led the team with Mike Parker during the search for president, and will now take the reins. Craig Zanon,…
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13 September
Primark Q4 operating profits to beat expectations despite sales fall
Associated British Foods (AB Foods) has announced that Primark will beat its Q4 FY21 adjusted operating profit expectations, as the group’s H2 retail sales are set to hit £3.4bn. In a trading update, the group claimed that while Primark’s sales for the year ended 18 September were “lower than expected”,…
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10 September
Asda to hire 150 greengrocers amid £9m fresh produce investment
Asda has announced the appointment of 150 in-store greengrocers as a part of a £9m investment to extend its fresh fruit and vegetable service offerings. Expected to be filled by a combination of external hires and internal appointments, the greengrocers will be based on shop floors across the UK. They…
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10 September
UK economic growth slows, ONS reveals
UK economic growth slowed down in July, growing by 0.1% compared with 1% in June 2021, according to the latest data by the Office of National Statistics (ONS). With the spread of the Delta variant and the “pingdemic” taking its hold in July, gross domestic product (GDP) still remains 2.1%…
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10 September
Tod’s sees profits reach €65m in H1
Tod’s, the shoewear company, has reported an EBITDA of €65m (£55m), with a 16.3% margin on sales in the first half of 2021. This compares to a €18.7m (£16m) operating loss in the first half of 2020. Compared to the pre-pandemic situation in the first half of 2019, the company…
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10 September
Asda owners mull £10.8bn EG Group sale
TDR Capital and the Issa brothers, the new owners of Asda, are reportedly considering their options – including a possible sale – of its petrol station company the EG Group. According to Bloomberg, the company has appointed advisers including Rothschild and Co, Goldman Sachs and Morgan Stanley, to help consider…
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10 September
Lululemon Q2 net revenues top £1bn
Lululemon Athletica, the multinational athletic apparel retailer, has revealed its net revenues soared 61% year-on-year to $1.45bn (£1.04bn) in Q2 FY21. The net global revenues for the first quarter of the financial year ended 31 January 2022 also represented a 64.2% rise from 2019’s levels. The Vancouver-based retailer also reported…
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