News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
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Sep- 2021 -24 September
Nike Q1 revenues climb 16% to £8.9bn
Nike has announced that group revenues increased 16% year-on-year to $12.2bn (£8.9bn) in Q1 FY22. The global retailer also revealed that net income climbed 23% to $1.87bn (£1.36bn) in the three-month period ended 31 August 2021, compared with $1.52bn (£1.11bn) the previous year. Revenues at the group’s EMEA and North…
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24 September
Selco to open two new branches by 2022
Selco has announced plans to open two new branches in the last three months of 2021, in Canning Town next month and Rochester in December. The new branches will create more than 60 jobs in local areas. The warehouse-retailer will have opened three stores in 2021, after the launch of…
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24 September
In the Style warns of profit hit despite trading boost
In the Style has warned that ongoing supply chain issues could impact its profitability in the near-to-medium-term thanks to ongoing supply chain disruptions, despite having seen a trading boost in recent months. The fashion retailer said it has “not been immune” to the impact of the ongoing freight and supply…
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23 September
French Connection receives takeover offer of £29m
French Connection has announced that it has received a buy-out offer of £29m by its second largest shareholders Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited. The offer comes as its share price increased by 15% to 26.9p, giving it a market value of roughly £26m. The company,…
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23 September
Eve Sleep on course to meet expectations as rebuild strategy takes hold
Bed and mattress retailer Eve Sleep has revealed it is on course to meet its financial expectations for the year as its three-year rebuilding strategy starts to take hold. The retailer revealed that for the first six months of the year ending 30 June, it saw revenues increase 13% to…
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23 September
Supermarkets warn of panic-buying amid ongoing labour crisis
Leading UK supermarkets are reportedly concerned about a surge in panic-buying during the run-up to Christmas, as supermarkets continue to face an “array” of pressures including the ongoing HGV driver shortage. The boss of Iceland has today warned customers against panic-buying over the period, as managing director Richard Walker told…
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23 September
Card retail transactions up to 81%, survey finds
Debit and credit card retail transactions surpassed four in every five pounds spent in 2020 (81%, up from 78% in 2019), according to the latest annual payments survey published by the British Retail Consortium (BRC). Cash use now accounts for just 15% of total spending in retail (down from 20%…
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23 September
DFS returns to profit in FY21
Furniture retailer DFS has announced that it has returned to profitability in its latest results for the 52-week period ending 27 June 2021. During the period, underlying pre-tax profits reached £105.8m from a previous year’s loss of £63.1m. Revenue also grew by 47.4% to £1.06bn from £724.5m in 2020 and…
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23 September
LVMH names Sylvain Blanc as Kenzo CEO
Moët Hennessy Louis Vuitton (LVMH) has named Sylvain Blanc as CEO at Maison Kenzo, effective 18 October, 2021. Revealed via an internal announcement at the luxury fashion house, Blanc’s appointment represents a succession in the role to Sylvie Colin, who is moving on to pursue a personal project abroad. Beginning…
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22 September
Fenwick losses widen to £112m
Department store chain, Fenwick, has revealed its losses have widened to £112m for the 52-week period ending 29 January 2021. The company said the results come after what it called “the most difficult trading conditions in living memory” with the Covid-19 pandemic forcing its stores to be closed for 21…
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