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 -22 July
Burberry opens flagship store in London
Burberry has announced the opening of its first flagship store which features the brand’s new global design concept, situated in Sloane Street, London. The store opening mirrors that of founder Thomas Burberry, who opened his first London store in the SW1 area 130 years ago, it still remains the home…
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22 July
17,000 high street stores could open this year, says Barclays
Some 17,000 local high street stores could open within the next 12 months, as customers reportedly “adapt to a post-lockdown world by looking local”, according to Barclays Corporate Banking. Its research found that consumers have returned to physical stores with “confidence” since restrictions began to ease. Some 68% say they…
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22 July
Unilever welcomes rising sales in H1
Unilever has reported an underlying sales growth (USG) of 5.4% year-on-year during the first half of FY21. The growth was supported by a 1.3% rise in underlying price growth and a 4% jump in underlying volume growth, when compared to H1 FY20. Despite the consumer goods company’s climbing USG, group…
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21 July
Aldi to donate over a million meals during summer holidays
Aldi has revealed that it will be supporting charities throughout the UK by donating more than one million meals to people in need during the summer school holidays. The supermarket is pairing its stores up with local charities, community groups and food banks to donate surplus food, with more than…
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21 July
Mike Ashley launches high court action over Debenhams collapse
Sports Direct owner Mike Ashley has reportedly gone to the High Court to set aside a settlement agreed with Debenhams and its administrators earlier this year. According to the Times, the retail tycoon intends to “kickstart investigations” into the department store’s directors and advisors following its collapse. If accepted, the…
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21 July
CD&R considering second Morrisons bid
American private equity firm Clayton Dubliner and Rice (CD&R) is reportedly considering making a second bid for UK supermarket chain Morrisons. According to The Times, CD&R is said to be working on a financial package with JP Morgan, Goldman Sachs and BNP Paribas. CD&R failed with a £5.5bn bid last…
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21 July
Wickes sales surpass pre-pandemic levels in H1
Wickes has revealed that sales have once again surpassed pre-pandemic levels following a strong half-year of trading, as the group reported a two-year sales growth of 22.4% in H1. Meanwhile, like-for-like growth for the 26 weeks to 26 June 2021 rose by 33.1% year-on-year. Since reopening, ordered sales have grown…
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21 July
Next upgrades profit guidance
Next has revealed it is raising its profit guidance for the rest of the year after beating its expectations for full price sales, with a rise of 19% in the last 11 weeks compared with figures posted two years ago. The fashion retailer said it originally assumed an increase of…
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21 July
MySale returns to profitability in FY21
Online retailer MySale has welcomed a period of ‘excellent progress’ in the full-year ended 30 June 2021, returning to profitability with underlying EBITDA ahead of market expectations at A$4.2m (£2.3m), A$6.9m (£3.7m) from the A$2.7m (£1.4m) loss in FY20. While core revenue rose by 14%, group total revenue fell by…
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21 July
HMV to open 10 high street sites
HMV, the music and entertainment retailer, reportedly intends to launch 10 new shops across the UK this year. According to the BBC, the plans include the opening of a new London flagship site, following the closure of its former Oxford Street flagship as the group collapsed into administration over two…
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