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.
-
Jul- 2021 -20 July
Morrisons kicks off work at new Kirby store
Morrisons has revealed that it has started work on the fitout of its new store in Kirkby which is due to open later this year. Over the next few months, the supermarket chain will be transforming the 47,100 sq ft which will feature market street counters as well as a…
Read More » -
20 July
Apollo pulls out of solo Morrisons bid
Apollo Asset Management has revealed it will no longer push ahead with a solo takeover offer for UK supermarket Morrisons, but said it is in discussions to join a rival bid. In a statement released today (20 July) the company said it is in “preliminary discussions” to join forces with…
Read More » -
20 July
The Works welcomes ‘resilient’ FY performance despite sales hit
The Works has announced that total revenue fell by 19.7% to £180.7m in the year ended 2 May 2021, down from £225m the year before, as the group was affected by ongoing store closures amid the national lockdowns. Nonetheless, the group said it welcomed a “resilient” performance, with store like-for-like…
Read More » -
20 July
Sosandar FY21 profits up 33%
Sosandar has revealed its gross profit for the year ended 31 March increased 33% to £5.8m from £4.4m the previous year, which was aided by a 40% increase in repeated orders. Revenue also grew by 35% to £12.2m from £9.03m with a particular nod to the first quarter which boasted…
Read More » -
20 July
Bestway FY20 profits soar 82% to £38m
Bestway Wholesale Group has reported a year-on-year rise in EBITDA of 81.8% in FY20, up from £20.8m to £37.9m. Revenues at the owner of Bestway Wholesale, Bestway Retail, Bestway Northern, Bestway Property, and MAP, also increased, but at a slower rate of 1.4% year-on-year to £2.55bn. The year to June…
Read More » -
19 July
Weird Fish raises over £250k for charity
Clothing brand Weird Fish has announced that it has raised over £250,000 through its initiatives with charity partners including the RSPB and Battersea Dogs and Cats Home. The retailer began its partnership with wildlife conservation charity RSPB in 2015, and has since raised £174,000 through the sales of nearly 30,000…
Read More » -
19 July
NBA launches debut UK store in partnership with Fanatics
The National Basketball Association (NBA), in partnership with sports merchandise retailer Fanatics, has announced the launch of a debut UK NBA store. Located at 14-16 Foubert’s Place in London’s Carnaby, Soho area, the store features a range of NBA and WNBA merchandise and memorabilia. Products such as apparel, jerseys, headwear,…
Read More » -
19 July
Morrisons set to unveil plans for chekout-less store
Morrisons is reportedly set to unveil plans for a checkout-less store, allowing customers to place their shopping straight into their bags and leave the store. According to reports first revealed by the Mail on Sunday, the grocer is currently trialling a store for its staff outside of its HQ in…
Read More » -
19 July
Puma profits hit £93m in Q2
Puma has reported that its profits hit €109m (£93m) in its second quarter of trading, up from a previous loss of €115m (£98) in 2020. The group noted that the increase was predominantly due to a range of new product launches, with “high sell-throughs” and strong growth across all regions,…
Read More » -
19 July
Footfall set to spike amid ‘Freedom Day’
Footfall across the UK is set to rise by 19.7% this week in the wake of ‘Freedom Day’, according to the latest data from Springboard. It comes as restrictions are set to be lifted in England from today (19 July) onwards. According to Springboard, whilst the removal of restrictions in…
Read More »
