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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Jun- 2021 -21 June
Morrisons rejects £5.5bn CD&R takeover bid
Wm Morrison Supermarkets has rejected a £5.5bn takeover bid from the American private equity company, Clayton, Dubilier and Rice (CD&R). Submitted on 14 June, CD&R’s offer was valued at 230 pence per Morrisons share for the entire share capital of the group. However, following a valuation with the supermarket chain’s…
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18 June
Sports Direct flagship store reopens following £10m refurbishment
Sports Direct has announced it will be reopening its flagship store in Oxford Street following a £10m refurbishment. The store recently underwent a complete overhaul with a modern, innovative, and sleek new look that brings the brand’s elevation strategy and fresh approach to the retail space. The store, which first…
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18 June
Bira takes credit for rent moratorium extension
The British Independent Retailers Association (Bira) has taken credit for the recently announced rent moratorium extension. Revealed on 16 June, the extension will keep existing measures in place to protect commercial tenants from eviction until 25 March 2022. The trade body claimed that the Government’s decision followed extensive lobbying from…
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18 June
John Lewis appoints AlixPartners to conduct supply chain review
John Lewis has reportedly appointed AlixPartners to conduct a strategic review of its supply chain and buying habits. According to Drapers, the restructuring firm has been instructed to examine its supply chain and its buying practises, including intake margins, in order to see if it can save variable costs. The…
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18 June
Over a quarter of all UK payments now contactless
UK Finance, the trade association for the country’s banking and financial services sector, has revealed that more than a quarter of all UK payments are now contactless. The body’s 2021 Payment Markets Report revealed that the number of contactless payments made in the UK increased by 12% to 9.6 billion…
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18 June
Usdaw urges Boohoo to engage in talks ahead of AGM
Retail trade union Usdaw said it has once again urged Boohoo to engage in talks to recognise the union ahead of the fashion giant’s AGM, which is set to take place later today (18 June). The union, which represents workers at Boohoo’s warehouse and call centre in Burnley, as well…
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18 June
Waterstones FY20 revenues decline 4.3% to £376m
Waterstones has reported a 4.3% year-on-year decline in revenues to £376m for the 52 weeks ended 25 April 2020. The books retailer also saw a contraction in profits after tax, falling 8.3% from £22.7m in FY19 to £20.8m in FY20. For consecutive years, no dividend was paid or declared during…
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18 June
Tesco sees sales slow in Q1
Tesco has revealed that group retail sales for the 13 weeks ended 29 May 2021 increased 1% on a like-for-like basis compared with 2019, which saw a 9.3% increase, despite the supermarket being open during the lockdown periods. Across the board, UK sales grew by only 0.5% to £10bn, accounting…
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18 June
Return to restaurants sees retail sales fall by 1.4%
UK retail sales fell by 1.4% between April and May, following a sharp increase in April when retail restrictions were eased, according to data from the Office of National statistics (ONS). The largest contribution to the monthly decline came from grocery stores where sales volumes fell by 5.7% – the…
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17 June
Clarks to launch six new kids shop-in-shops
Clarks has announced that it will be launching six new kids shop-in shops from June 2021. The footwear retailer claimed that the new stores were in response to seeing an increased consumer demand when stores reopened in April. The spaces will be located at John Lewis stores throughout the UK,…
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