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 -17 June
N Brown returns to growth in Q1
N Brown saw a return to growth in Q1 FY22 as group revenues climbed 0.5% year-on-year to £168.7m during the period. Revenues at the retailer’s strategic brands, which included Jacamo, Simply Be, JD Williams, Ambrose Wilson, and Home Essentials, spiked 15.5% when compared to Q1 FY21. This has come as…
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17 June
Maternity brand Seraphine considering float on LSE
Maternity brand Seraphine has confirmed it is considering plans to float on the London Stock Exchange’s main market for listed securities. The company, which was founded in 2002, has submitted an application via its holding company, Kensington Topco Limited, for approval to the FCA. The group, which will be known…
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17 June
Dr Martens profits drop 30% amid IPO related costs
Footwear retailer, Dr Martens has revealed that its profit before tax dropped 30% to £70.9m from £101m for the year ended 31 March 2021 which was attributed to the £80.5m cost related to its London Stock Exchange IPO. Profit was also impacted by the group’s repayment of £1.3m in furlough…
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17 June
Gov extends rent moratorium for another nine months
Stephen Barclay MP, the chief secretary to the Treasury, has announced the government’s extension of the rent moratorium for an additional nine months. The measure will assist retailers and hospitality businesses in surviving the year and will prevent landlords from evicting tenants for failing to pay rent throughout the rest…
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17 June
Halfords profits soar in FY21 amid cycling boom
Halfords has welcomed a “strong” year of trading, as pre-tax profit soared by 72.3% to £96.3m in its preliminary results for the year ended 2 April 2021. In the same period, revenue rose by 13.1% to £1.3bn, while total revenue across its retail business rose by 9.4%. Retail LFL sales…
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17 June
Oxford Circus to be transformed into ‘pedestrian piazzas’
Oxford Circus will be transformed into two, “pedestrian-friendly piazzas” as part of plans unveiled by Westminster City Council and The Crown Estate to revive Oxford Street and the wider district. The organisations said that work will begin on the area later this year, with the reconstruction set to provide “significant…
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17 June
Victorian Plumbing market cap valued at £850m upon IPO
Victorian Plumbing, the online retailer of bathroom products and accessories, has revealed its market capitalisation upon admission to trading on AIM to be roughly £850m. The group has confirmed a conditional placing of 4,427,481 new ordinary shares and 109,122,138 existing ordinary shares, at a price of 262 pence per share.…
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16 June
Aldi to expand Scottish presence with 20 new locations
Aldi has announced it is on the lookout for 20 new store locations in Scotland as it moves to expand its presence in the country. The areas in Scotland where it is now looking for sites include Clarkston, Peebles and Stonehaven. The supermarket chain currently operates 96 stores in Scotland…
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16 June
Issa Brothers given green light for £6.8bn Asda takeover
The Competition and Markets Authority (CMA) has accepted the Issa Brothers offer to sell 27 of their 395 EG Group petrol filling stations in a bid to close their £6.8bn takeover of Asda. In April, the competition watchdog launched an investigation into the deal after it was feared that the…
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16 June
Westfield owner names Caroline Puechoultres as CCO
Unibail-Rodamco-Westfield (URW), the owner of Westfield, has announced the appointment of Caroline Puechoultres as chief customer officer (CCO) at the group. Effective 15 July 2021, the addition is part of the firm’s wider strategy to capture growth opportunities in a changing retail environment as an increasingly customer-focused brand. In the…
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