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 -10 June
DFS FY21 revenues climb 10.4%
DFS Furniture has revealed its revenues increased by 10.4% during the first 49 weeks of FY21 when compared to FY19 levels. In a trading announcement made ahead of the group’s full-year results on 27 June 2021, the furniture retailer claimed that it expects profit before tax for the period to…
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10 June
CMA could investigate Amazon over data fears
The CMA is reportedly planning to launch a formal competition investigation into Amazon, following a similar investigation launched by the EU, according to the Financial Times. Three people familiar with the situation reportedly told the FT that the competition watchdog has been analysing the online giant “for months”, with particular…
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10 June
Aldi introduces ‘Prevented Ocean Plastic’ packaging across fish range
Aldi has announced that it is introducing packaging made with ‘Prevented Ocean Plastic’ across its entire range of own-label fishcakes and crispbakes. The packaging, produced by Sharpak, part of Groupe Guillin, includes fully traceable and certified recycled waste plastic that has been “collected by communities living in coastal areas across…
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9 June
RSM retail head calls for ‘more flexible furlough scheme’
Jacqui Baker, head of retail at RSM, has called for a more “flexible furlough scheme” to allow retailers to “manage peaks and troughs of activity”, as the UK comes out of lockdown. In her plea, which comes ahead of the government’s coronavirus select committee this afternoon, Baker said that retailers…
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9 June
May sees online retail sales fall 9.1%, latest data reveals
Online retail sales fell 9.1% year-on-year last month compared with 2020 which saw a growth of 61% according to the latest IMRG Capgemini Online Retail Index. Despite this, when measured against May 2019’s pre-pandemic levels, last month’s figures represent an overall 46% increase in sales volume. At a category level,…
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9 June
LVMH launches £26m global support fund for employees
LVMH has announced the launch of its Heart Fund, a global emergency and support fund for its 150,000 employees, with an initial endowment of €30m (£25.7m). The group has implemented the fund with the aim of supporting all its staff around the world who are faced with a “serious personal…
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9 June
Aldi’s ‘price match’ complaint against Tesco dismissed by ASA
Aldi’s complaint against Tesco’s ‘price match’ campaign has been dismissed by the Advertising Standards Authority (ASA). The German grocer launched a complaint against a press ad issued by Tesco last July – which aimed to compete with Aldi. The ad depicted a large roundel which stated “Aldi Price Match”. Further…
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9 June
Toy retailer secures seven-figure funding package
A Manchester-based online children’s toy and games retailer has secured a seven-figure funding package from HSBC UK to support its expansion plans. Bargainmax.co.uk is planning to use the money to increase its product range and stock by over 60% in the next year. Currently, the toy brand offers over 2,500…
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9 June
Gap to step away from 19 UK sites
Gap is set to close 19 of its stores across the UK and Ireland as their leases expire on 31 July 2021. The US clothing and accessories retailer confirmed that is stepping away from the sites as part of a strategic review of its operations, which commenced last Autumn. While…
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9 June
Inditex sees Q1 sales rise 50% to over £4bn
Inditex, the owner of Zara, has announced that its sales soared by 50% to €4.9bn (£4.2bn) in the first quarter of 2021, while online sales rocketed 67% in the same period. Net profit totalled €421m (£362m) in the quarter, up from a loss of €409m (£352m) reported in the first…
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