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 -23 July
Asda makes electric company car switch
Asda has switched the entirety of its company car fleet to electric vehicles, becoming the first British supermarket group to do so. The change, which will affect over 600 vehicles, is set to save over 2,411 tonnes of CO2 over the next four years, the equivalent of more than six…
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23 July
Retail shop staff not included on self-isolation exemption list
Retail shop workers have not been included as one of the 16 key sectors on the government’s list allowed to be exempt from isolation rules. The list, revealed by the government last night (22 July), includes workers from digital infrastructure, food production and supply, waste, water, veterinary medicines, energy and…
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23 July
Fortress to launch review if Morrisons bid successful
US Private equity fund Fortress Investment Group will reportedly launch a review of Morrisons’ operations within the first six months of ownership, should its planned £6.3bn takeover bid end successfully. According to the Financial Times, while Fortress are “broadly supportive” of Morrisons’ management team the review would include the supermarket…
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23 July
Consumer confidence surpasses pre-pandemic levels
Consumer confidence increased to -7 this month, according to GfK’s Consumer Confidence Index, which is ahead of pre-pandemic levels previously reported. The index measuring changes in personal finances over the last year was -1, an increase of three points against July 2020, while the forecast for personal finances over the…
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23 July
Ted Baker moves HQ to Fitzrovia
Ted Baker has announced plans to move to a new headquarters in central London. The fashion brand has signed a 10-year lease with Westminster City Council, with rent of £900,000 and plans to move to the new building in Fitzrovia, London next summer. The move will allow the group to…
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23 July
Hotel Chocolat raises £40m in stock market debut
Hotel Chocolat has announced the completion of the placing of ordinary shares at £0.1p each raising gross proceeds of £40m on the London Stock Exchange. Having received strong demand from existing shareholders and other institutional investors, a total of 11,112,913 new ordinary shares were placed at a price of 355p…
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22 July
Ryman selects new CEO
Ryman has announced that it has hired Peter Birks as its new CEO, with effect 2 August 2021. He brings with him 15 years of experience as an executive leader, with a record in delivering growth and “maximising” operational efficiencies within multichannel organisations. He has held leadership roles in retailers…
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22 July
Coca-Cola raises FY guidance amid revenue spike
The Coca-Cola Company has raised its expected organic revenue growth for the full year to between 12% and 14%. The forecast comes as the group saw net revenues soar 42% year-on-year to $10.1bn (£7.3bn) in the second quarter of FY21. The company also reported a 37% spike in organic revenues…
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22 July
Gov to announce list of workers exempt from isolation
Business secretary Kwasi Kwarteng has revealed that the government is set to announce the list of Uk workers who will be exempt from self-isolation rules later today (22 July). Kwarteng revealed the news while speaking to the BBC’s Radio 4 Today programme. Staff that work in the key sectors that…
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22 July
Sainsbury’s opens new local store in Salford
Sainsbury’s has announced the opening of a new local store in Salford this July. The store entitled ‘Sainsbury’s Salford New Bailey Square’, is situated within close proximity to Salford Central Station, and aims to offer nearby workers and residents a “convenient place to do their shopping”. The shop will feature…
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