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 -3 June
Indoor hospitality reopening fails to boost May footfall
The reopening of indoor hospitality has failed to give a significant boost to high street footfall, according to Springboard’s May figures. Springboard revealed that while footfall strengthened when non-essential retail opened in April, further gains following the reopening of indoor hospitality in May were muted. Footfall was -27.5% lower than…
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3 June
B&M profits rise 108% to £540m
B&M has reported a 107.7% increase in profit before tax to £540.1m for the FY period ending 27 March 2021, which it has attributed to higher sales densities. Group revenues also rose by 25.9% to £4.8bn from £3.8bn in 2020 as the retailer benefited from remaining open throughout the year.…
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3 June
Capri names Jenna A. Hendricks as chief people officer
Capri Holdings Limited, a global fashion luxury group, has announced the promotion of Jenna A. Hendricks to senior vice president, chief people officer effective June 1, 2021. In this role, Hendricks will be responsible for leading the global human resources organisation for Capri Holdings across all three luxury houses to…
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3 June
Grosvenor takes minority stake in Roland Mouret
Property Group Grosvenor Britain and Ireland has revealed that it has taken a minority stake in Roland Mouret, the luxury womenswear designer. The deal represents Grosvenor’s debut equity investment in one of its occupier groups, further expanding the partnership between the two groups that commenced with the opening of Roland…
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3 June
JD Sports to sell Sports Unlimited Retail for £14m
JD Sports is set to offload one of its subsidiaries for €16.5m (£14.2m), after agreeing to the sale of Sports Unlimited Retail BV (SUR) to Iberian Sports Retail Group SL (ISRG), its 50.02% subsidiary based in Spain. SUR is a wholly owned company based in the Netherlands, operating under the…
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2 June
Lands’ End celebrates Pride month with rainbow capsule collection
Lands’ End has announced its latest support towards the LGBTQ+ community with its first rainbow capsule collection in celebration of Pride Month. The collection will include a colourful array of summer essentials, including tops, bottoms and dresses. The company has continued to work towards fostering a more diverse and inclusive…
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2 June
Etsy to acquire Depop for over $1.6bn
Etsy, the two-sided online marketplace operator, has announced its acquisition of the community-led fashion resale marketplace Depop for $1.625bn (£1.15bn). The deal, which is expected to be completed in Q3 FY21, will see Depop continue to be headquartered in London and run by its existing leadership team as a standalone…
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2 June
Amazon to become UK’s largest retailer by 2025, study finds
Amazon is to overtake Tesco as the UK’s largest retailer within the next four years, with UK sales expected to reach £77.1bn by 2025, according to a report from Edge by Ascential’s syndicated research arm, Edge Retail Insight. In 2020, Amazon UK’s total sales were £36.3bn, while Tesco’s sales were…
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2 June
Two-thirds of retailers face legal action in july over rents, warns BRC
Two-thirds of retailers have been told by landlords that they will be subject to legal measures from July, once the moratorium on aggressive debt enforcement ends, according to the British Retail Consortium (BRC). Research conducted by the group shows that 30% of retailers have already faced County Court Judgements (CCJs)…
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2 June
Bank holiday weather boosts UK footfall
Footfall across UK retail destinations rose by +6.7% last week against the week before, with the average uplift in activity from Thursday to Saturday of +15.2% driving the increase for the week. According to the latest data from retail experts Springboard, the weekend’s uplift marked a notable increase compared with…
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