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.
-
Jun- 2021 -28 June
JD Sports snaps up Spanish online retailer
JD Sports had agreed to acquire Deporvillage, a Spanish online retailer focussing on the sale of specialist sports equipment, for €140.4m (£120.4m). The group’s 50.02% intermediate holding company in Spain, entered into a conditional agreement to acquire 80% of the issued shares in Deporvillage SL. Based in Manresa in Catalonia,…
Read More » -
28 June
Burberry CEO to step down
Burberry has announced that Marco Gobbetti will step down as CEO and leave the company after nearly five years at the helm. The board will now begin the search for his successor and anticipate that Gobbetti will remain with the retailer until the end of the calendar year. In that…
Read More » -
28 June
Matalan FY21 losses widen to £118m
Missouri Topco, the owner of Matalan, saw its losses for the 52 weeks ended 27 February 2021 extend to £118.6m, up from £16.7m the previous year. During the period, the fashion and homeware retailer swung to an operating loss of £39.3m, down from £69.3m of operating profits seen in FY20.…
Read More » -
28 June
Greggs sales ‘stronger than anticipated’ post-lockdown
Greggs has revealed that the level of sustained sales recovery is “stronger than anticipated” since its previous trading update, adding that if it were to continue, its performance would have a positive impact on its full-year results. In recent weeks, while the impact of pent-up demand for retail has reduced,…
Read More » -
25 June
Sainsbury’s to roll out new recycling system in 520 stores
Sainsbury’s has revealed that it will be rolling out a new recycling system in 520 of its supermarkets, allowing customers to recycle all flexible plastic packaging. Following a successful trial in the North East of England, the front of store recycling points will make it easier for customers to make…
Read More » -
25 June
Nike Q4 revenues surge 96% to £8.85bn
Nike saw its revenues spike 96% year-on-year to $12.3bn (£8.85bn) for the three months ended 31 May 2021. The group also saw a return to net profits of $1.51bn (£1.09bn) in the quarter, up from its $780m (£561m) net losses seen in Q4 FY20. The surge in Q4 revenues contributed…
Read More » -
25 June
Long-term WFH may damage ‘perfectly good’ retailers, says BIRA CEO
A permanent working from home post-lockdown model could damage “perfectly good” businesses, according to the British Independent Retailers Association’s (BIRA) CEO. In an interview with the Daily Telegraph, Andrew Goodacre addressed how businesses in London would specifically be adversely affected by such a change. Goodacre’s intervention comes after research from…
Read More » -
25 June
Consumer confidence remains stable despite restrictions delay
Consumer confidence remained stable at -9 in June despite the government’s recent announcement to delay the easing of Covid-19 restrictions, according to GfK’s long-running Consumer Confidence Index. The index revealed that although four measures were up in comparison to the 21 May announcement, one measure was down. The index measuring…
Read More » -
25 June
Canada Goose to stop using fur
Canada Goose has announced that it will stop using fur in its products by the end of the year and will aim to cease manufacturing with fur by 2022. The news falls in line with the retailer’s sustainability commitments, having already announced its aim to achieve net-zero carbon emissions and…
Read More » -
25 June
Asos to slash roles at Topshop
Asos is set to make a series of redundancies across the Topshop, Topman and Miss Selfridge brands, Drapers has revealed. The redundancies are reportedly set to affect around 38 employees across senior buying, established buying, design and merchandising. Sources told Drapers that the brand’s employees were informed of the plan…
Read More »
