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 -12 July
Quiz sales hit £17.3m amid online boost
Fashion retailer Quiz has revealed that total sales for the period between 1 April 2021 to 30 June 2021 hit £17.3m, up from £4.2m the prior year, which was consistent with the board’s expectations. The increase was attributed to sales rising in the group’s websites, which saw sales total £4.6m…
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12 July
Footfall flatlines in June
Footfall from shoppers in the UK plateaued despite social distancing restrictions remaining largely the same, according to new data from the British Retail Consortium (BRC). The latest Footfall Monitor from BRC and Sensormatic found that overall footfall in the UK dropped by 27.6% in June compared to the same month…
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12 July
L Brands approves Victoria’s Secret separation
L Brands has announced that it has approved the previously announced separation of Victoria’s Secret into an independent, publicly traded company. Trading as Victoria’s Secret and Co, the group will include Victoria’s Secret Lingerie, PINK, and Victoria’s Secret Beauty. Set to become effective on 2 August 2021, L Brands shareholders…
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12 July
Nordstrom acquires minority stake in Topshop brands
ASOS has formed a joint-venture with Nordstrom, which will see the US department store chain invest in a minority interest of the Topshop, Topman, Miss Selfridge and HIIT brands. The UK online fashion retailer, which acquired the brands earlier this year, said the move will “help drive the growth” of…
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12 July
Klarna acquires shopping platform Hero
Klarna has announced the acquisition of the social shopping platform Hero, introducing the platform to its 250,000 retail partners across the world. The platform is reportedly designed to provide consumers with “inspiration, advice and immediately shoppable content produced directly from retailers’ physical stores”. Klarna said the acquisition would allow in-store…
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9 July
Co-op to launch ‘extensive’ recycling scheme in 1,500 stores
Co-op has announced that it will launch its most “extensive” in-store recycling scheme in 1,500 stores this month (July) and in 2,300 stores by November. The rollout of the scheme is set to see the convenience retailer have fully recyclable food packaging by the end of July and help tackle…
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9 July
Morrisons CEO to discuss takeover with business secretary
The CEO of Morrisons is to meet with business secretary Kwasi Kwarteng next week to discuss the potential takeover of the business by a consortium led by an US investment firm. According to The Times, Kwarteng has asked CEO David Potts to explain the reasoning behind the company’s decision to…
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9 July
June sees LFL retail sales rise by 52.1%
Total like-for-like (LFL) retail sales increased by 52.1% in June, according to the latest BDO’s High Street Sales Tracker. The tracker also revealed that retail sales jumped 41.7% in the third week of June from a “poor base” of 7.07% for the same week last year when non-essential retailers began…
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9 July
First London ‘Little Dobbies’ opens
Dobbies Garden Centres has announced the opening of the first London-based ‘Little Dobbies’, located on Westbourne Grove. This marks the third Little Dobbies to open in the UK, following the success of its first two format stores in Edinburgh and Bristol, and brings Dobbies’ total open stores to 72 across…
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9 July
Retailers team-up for campaign to tackle climate change
A group of retailers, including Kingfisher, Walmart, H&M Group and Ikea owners Ingka Group, have announced the launch of a new climate change initiative. The Race to Zero Breakthroughs: Retail Campaign has been created in partnership with the COP26 High Level Climate Action Champions and supported by the World Business…
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