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 -15 July
Asos sales rise 26% despite Covid ‘uncertainty’
Asos has reported that total sales soared 26% to £1.24bn in the four months ended 30 June 2021, up from the £983.3m reported the previous year, as the retailer continued to attract more customers. Total group revenue also increased over the period, rising by 27% to £1.28bn, up from £1.01bn…
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15 July
Halfords to hire 700 in recruitment drive
Halfords has set upon a recruitment drive that will see over 700 new staff members across a range of positions added to the group. The available roles at the retailer include vehicle technicians, MOT testers, cycle technicians, auto technicians, store and autocentre colleagues, department supervisors, and management. Following the appointments,…
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15 July
Kingfisher raises guidance as sales rise 22%
Kingfisher has announced it is raising its guidance for its half-year results after reporting that like-for-like sales in Q2 were up by 22.3% against 2019. In light of “high levels of demand” from its customers across retail and trade, the owner of B&Q and Screwfix now expects its half-year profit…
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15 July
Lidl announces new healthy food commitment
Lidl has announced a new healthy food commitment, which will see the group increase sales of healthy and healthier products to at least 85% by 2025. As part of the commitment, its teams will assess over 200 lines each year that can be “improved to meet the criteria”. Furthermore, Lidl…
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14 July
Online spending to hit £120.48bn in 2021
Following a surge in online sales in 2020, UK shoppers are predicted to further increase their spending of online purchases in 2021 to £120.48bn, according to the latest report by VoucherCodes.co.uk. The research showed that online sales will make up almost a third (30.2%) of overall retail spending, equating to…
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14 July
John Lewis and Waitrose to axe 1,000 jobs across stores
The John Lewis Partnership has announced that John Lewis and its sister company Waitrose are set to cut 1,000 job roles across its stores. The redundancies are set to affect roles across 34 John Lewis and 331 Waitrose stores, and form part of a widespread restructuring of the company. Operations…
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14 July
Administrators appointed to wind up Arcadia Group
Mazars has been appointed as liquidators of Philip Green’s collapsed retail empire Arcadia Group -with the group looking to “repay key creditors”, including HMRC. Arcadia, which operated numerous high-street brands across the UK and globally, including Topshop, Burton and Dorothy Perkins, fell into administration towards the end of last year,…
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14 July
Boohoo expands Debenhams presence in Middle East
Boohoo has announced a new partnership with Alshaya Group to build on the presence of Debenhams in the Middle East region. This partnership marks a further step as the group accelerates progress integrating and scaling the Debenhams brand. The Alshaya Group, which currently runs Debenhams stores in shopping malls, will…
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14 July
ManoMano raises $355m in Series F funding round
ManoMano, a European marketplace specialising in DIY, home improvement, and gardening, has secured $355m (£257m) in a Series F fundraising round. The investment brings the now unicorn retail group’s valuation to $2.6bn (£1.88bn), with the UK acting as the company’s fastest growing market. Led by Dragoneer Investment Group, the round…
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14 July
Dunelm raises guidance amid ‘robust’ Q4 sales
Dunelm has raised its full-year guidance following a period of “exceptionally strong” growth post-lockdown, with Q4 sales soaring 101.7%, or 43.9% when compared to the same period in 2019. In light of its strong sales performance since reopening in April, as well as reporting a higher than anticipated gross margin…
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