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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Aug- 2021 -3 August
Greggs to add 100 new stores as it returns to profit
Greggs has announced it plans to open 100 new stores this year after it revealed it had returned to profit for the 26 weeks ended 3 July 2021. For the half-year period it posted profits of £55.5m compared with the previous year’s loss of £65.2m. Total sales also climbed to…
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3 August
Joules returns to profit in FY21
Joules has announced that it has returned to profit in its latest full-year results, rising to a pre-tax profit of £6.1m, up from a loss of £3.9m the prior year. It comes as its group revenue saw an uptick of 4.3% to £199m in the full-year ended 30 May 2021,…
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3 August
Foot Locker acquires Atmos and WSS brands for $1.1bn
Foot Locker is set to acquire Japanese street brand Atmos and U.S.-based athletic footwear and apparel retailer WSS in two separate deals worth approximately $1.1bn (£719m). Atmos sells premium sneakers and apparel across 49 stores globally, including 39 in Japan. In 2020, Atmos generated approximately $175m (£126m) in revenue, more…
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3 August
Capri Holdings sees Q1 revenues reach $1.25bn
Multinational fashion company Capri Holdings has reported a 178% year-on-year spike in total group revenues to $1.25bn (£898m) for Q1 FY22. The owner of Jimmy Choo, Versace, and Michael Kors has in turn raised its full-year adjusted earnings per share forecast to $4.50 (£3.23). Adjusted profit for the quarter ended…
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2 August
Central England Co-op partners with Snappy Shopper
Central England Co-op has announced a new partnership with Snappy Shopper, in which shoppers in the region will now be able to order groceries online from 141 local stores and have them delivered straight to their homes. The partnership also aims to grow the number of Co-op stores participating to…
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2 August
Amazon growth slows in Q2
While sales in Amazon’s second quarter soared by 27% to $113bn (£81bn) against 2020, growth slowed down from a 44% climb in the first quarter, as Wall Street had forecast sales of $115bn (£83bn). The deceleration is expected to continue, according to Amazon, as it guided for a 10% to…
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2 August
Hermes H1 net income reaches £1bn
Women’s bags and clutches retailer Hermes saw net income soar to €1.17bn (£999m) during the first half of FY21, up from €335m (£286m) the previous year. The group also reported a 70.2% year-on-year spike in revenues to €4.24bn (£3.62bn) during the period. Net income for the half year represented 27.7%…
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2 August
CD&R set to launch rival Morrisons bid
Private equity group Clayton, Dubilier & Rice (CD&R) is reportedly set to kick off a bidding war for grocery chain Morrisons, following a £6.3bn offer from American rival Fortress. According to The Sunday Times, CD&R is said to be lining up equity and debt financing for a counter bid offer…
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2 August
Aldi raises lorry drivers’ wages amid labour shortage
Aldi has reportedly increased the wages for its lorry drivers in a bid to tackle labour shortages within the industry and avoid bare shelves, according to The Sunday Times. The supermarket is said to have “pushed through” a pay rise for its drivers to maintain its stance as one of…
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Jul- 2021 -30 July
The Midcounties Co-operative launches soft plastic collection scheme
The Midcounties Co-operative has rolled out a soft plastic collection scheme in over 200 of its food stores, meaning that all of its own-branded packaging is now 100% widely recyclable. The initiative will help customers recycle problem materials, including bread bags, lids from ready meals, biscuit wrappers and wrappers from…
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