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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Jul- 2021 -30 July
CMA raises no issues over Morrisons takeover
The private equity backed consortium looking to buy Morrisons has said the Competition and Markets Authority (CMA) has not raised any issues surrounding its £6.3bn takeover deal. The consortium, which is led by Majestic Wines owner Fortress, has said the CMA has told the group that it had “no further…
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30 July
One in seven UK shops still remain vacant, BRC reveals
More than one in seven shops on UK high streets, retail parks and shopping centres are currently vacant, according to the latest data from the Local Data Company and the British Retail Consortium (BRC). The data revealed that fashion stores were amongst the “hardest hit” as customers primarily shifted to…
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30 July
Dr Martens Q1 revenues soar 52%
Dr Martens has reported revenue growth of 52% year-on-year to £147.3m in the three months ended 30 June 2021. Although comparisons on a yearly basis are skewed by FY21’s Covid-19 impact, the Q1 FY22 figure represented a 31% jump when compared to the same period in FY20. While stores in…
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29 July
NI to boost high street spending with £100 voucher
Northern Ireland economy minister Gordon Lyons has announced a £145m scheme that will give everyone aged 18 and over a prepaid card worth £100 to spend on their local high street. It is planned that the registration process will open to the public this September. Lyons stated that the new…
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29 July
Very transfers fashion returns to East Midlands fulfilment centre
The Very Group has completed the migration of all its clothing and footwear returns to Skygate, its automated fulfilment centre in the East Midlands. The 850,000 square foot fulfilment centre, which launched the day the first national lockdown began in March 2020, has shipped 20 million items and over eight…
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29 July
Mothercare losses widen to £21.4m
Mothercare has reported a wider pre-tax loss of £21.4m for the full-year ended 27 March 2021. Turnover also plummeted 47.9% to £85.8m, down from £164.7m the previous year, largely due to the continued impact of Covid-19 on trade in the key markets of Russia, India, Indonesia and Malaysia. Looking ahead,…
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29 July
BoohooMan drops DaBaby over ‘homophobic language’
Online fashion retailer Boohoo has dropped rapper DaBaby from its BoohooMan partnership following a string of homophobic comments that also targeted those with HIV. Performing live at Miami’s Rolling Loud Festival on Sunday (25 July), DaBaby falsely claimed that having HIV/AIDS will “make you die in two to three weeks”.…
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29 July
Pets at Home sees sales soar to £377.8m
Pets at Home has seen its first quarter revenues grow 25.7% to £377.8m as the retailer continues to witness a “strong sales momentum”. In the 16 weeks to 25 July, the retailer saw like-for-like revenue up 30.2%, or 29.4% on a two-year basis, which it said reflected “continued strong growth…
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28 July
GIC joins Fortress-led Morrisons takeover bid
GIC, a Singapore investment firm, has joined the £6.3bn Fortress-led consortium bid for Morrisons. A filing on the London Stock Exchange revealed that GIC will join the efforts of Oppidum Bidco, a newly formed company indirectly owned by funds managed by Fortress, as an additional co-investor. In turn, the bid…
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28 July
Tesco accelerates sustainability plans with windfarm launch
Tesco has revealed that its newly backed windfarm is now live and generating much needed renewable energy, falling in line with the group’s sustainability plans. In partnership with ScottishPower, the 30MW 15-turbine Halsary windfarm in Caithness, Scotland, will provide enough clean energy to power the equivalent of almost 20,000 homes…
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