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 -16 June
UK inflation hits 2.1% as clothing prices rise
Inflation in the UK rose to 2.1% in May, up from 1.5% in April, according to the latest figures from the Office for National Statistics (ONS). This increase has been fuelled by an increase in consumer spending as the British public comes out of lockdown. Meanwhile, clothing prices jumped by…
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16 June
ScS upgrades FY21 outlook amid ‘strong’ trading
ScS has announced that it now expects its full year performance for FY21 to be ahead of market expectations, following a “very encouraging” performance since the reopening of its stores. The group also experienced strong order intake growth over the first 21 weeks of the financial year despite the impact…
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16 June
Asda opens ‘biggest refill zone’ in York
Asda has announced plans to open its biggest refill zone to date in York in October. The zone will feature 18 standalone bays with over 70 branded and own-label products in refillable format with brand new product types including dried Mars pet food and additional ranges of snacking, desserts and…
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16 June
Boohoo opens talks for Debenhams store return
Boohoo is reportedly in talks to open a Debenhams store in a bid to land deals with a number of beauty brands. According to the Times, “one store and one store only” will be opened to cater for those brands that would only supply when there is a physical retail…
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16 June
Made.com debuts on stock market with £775.3m price offer
Made.com has confirmed its intention to float on the London Stock Exchange on 21 June 2021 with an offer price of £775.3m. The online furniture retailer first announced its plans to debut on the market last month with the latest announcement revealing that the IPO has been set at 200…
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15 June
Ikea France fined €1m for staff privacy breaches
Ikea France has been fined €1m (£862,101) after its former CEO, Jean-Louis Baillot, was found guilty of collecting private data on some 400 staff, according to the BBC. As a result of being found guilty by a French Court, Baillot was sentenced to a two-year suspended jail term and €50,000…
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15 June
Sunak to reject furlough extension calls despite ‘freedom day’ delay
Chancellor Rishi Sunak is reportedly set to reject calls for an extension of the furlough scheme and business rates report to businesses despite the prime minister announcing a four-week delay to the lifting of restrictions. According to the Guardian, sources close to the chancellor have said that he believes sufficient…
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15 June
H&M sales soar 75% in Q2
H&M has reported a quarterly turnover rise from the year before as Covid-19 restrictions continue to ease, despite overall revenue remaining below 2019 levels. In the second quarter of 2021, the retail group reported a net sales increase of 75% in local currencies compared with the same period last year.…
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15 June
Boohoo see Q2 revenues surge 32% to £486m
Boohoo has reported a 32% surge in group revenues for the three months to 31 May 2021 from £367.8m to £486.1m which was spurred on by retailers turning to online shopping during the pandemic. UK revenue contributed heavily to the overall sales growth, which saw a 50% increase from £183m…
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15 June
Very recruits 30 young people via Gov’s Kickstart initiative
The Very Group has announced plans to create 30 new roles as part of the government’s Kickstart scheme to “improve opportunities” for young people at risk of “long-term unemployment”. The roles are open via JobCentre Plus to 16 to 24 year olds on Universal Credit. It aims to offer work…
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