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 -9 September
Costa Coffee to increase staff pay by 5%
Costa Coffee has announced that all 14,500 of its store team members in UK company-owned stores will receive a 5% pay increase. From 1 October 2021, all store team members will receive pay increases of at least 45p per hour, bringing minimum pay to £9.36 per hour from £8.91. The…
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9 September
JD Sports adds Bert Hoyt as non-exec director
JD Sports Fashion has announced the appointment of Bert Hoyt as a non-executive director at the group, effective 8 September 2021. Hoyt most recently acted as VP/GM at Nike EMEA until his retirement from the role in January 2021. Having joined Nike in 1998, Hoyt presided over a period of…
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9 September
61% of shop workers subjected to offensive behaviour, study finds
Some 61% of shop workers have experienced some form of offensive behaviour while working for their current employer, for whom the impact manifested as stress (45%), anxiety (43%) and a loss of self-esteem (19%), according to a recent survey of 1048 shopworkers by Foot Anstey. Foot Anstey said half of…
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9 September
B&M HY results to beat expectations
B&M European Value Retail S.A has revealed that whilst group revenues year to date have been “broadly in line with market expectations”, its performance has been strengthened by better than anticipated margins in its UK business. As a consequence, the group said it now expects adjusted EBITDA for the 26-week…
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9 September
Gear4music acquires AV online for £9.2m
Gear4music has announced that it has acquired AV Distribution Ltd, which is trading as AV Online, for an aggregate consideration of £9.2m. Separately, the group has also acquired the website domain name AV.com. The completion of the deal is dependent upon receiving approval from the Financial Conduct Authority (FCA) which…
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9 September
JD Sports eyes Missguided takeover
JD Sports Fashion is reportedly considering an investment into Missguided which could lead to an “outright takeover” of the online fashion business, according to Sky News. It is thought to be one business amongst a “number of parties” that are in talks to take over the brand. The group’s proposal…
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9 September
Morrisons warns of ‘industry-wide’ inflation as profits drop 37.1%
Morrisons has forecasted “industry-wide” price increases across the retail sector during the second half of FY22, as HGV driver issues continue to cause supply chain disruptions. The supermarket chain attributed the expected hike in prices to recent commodity price increases and freight inflation, as well as the ongoing driver shortages.…
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8 September
August online retail sales growth slows down
Online retail sales growth in August fell by 9.3% year-on-year, which was only a small improvement compared with July’s fall of 9.6%, according to the latest IMRG Capgemini Online Retail Index. The index revealed that August’s results were still “well below” the six (2.25%) and 12-month (21.37%) averages, but above…
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8 September
Poundstretcher returns to profit in FY21
Discount retailer Poundstretcher has reported a swing to £30m pre-tax profits in FY21, up from losses of £49.5m the previous year. The group also revealed an unaudited EBITDA of £46.7m for the year ended 31 March 2021, as a direct result of an earlier restructuring. 2020 saw Poundstretcher enter a…
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8 September
Supply chain disruption hits Halfords’ bike sales
Halfords has announced that global supply chain disruptions have hit its cycling business in recent weeks, despite cycling sales rising 9.9% in the 20-week period ended 20 August 2021. The group experienced “considerable capacity constraints” in light of ongoing disruptions, leading to low availability of bikes throughout the period. Availability…
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