News
News is Retail Sector’s central hub for breaking stories, market developments and company updates from across the UK retail industry. This category delivers authoritative, timely coverage on everything from trading performance and executive changes to store openings, brand activity and supply chain developments.
Retail Sector’s news coverage focuses on the business realities behind the headlines — providing retail professionals with context on how each development impacts operations, strategy and market confidence. Readers can expect clear, accurate reporting designed to keep decision-makers informed and competitive in a fast-moving retail landscape.
-
Aug- 2021 -4 August
Alibaba revenues fail to meet analysts’ expectations
Alibaba has reported revenues of ¥180.24bn (£20bn) for the three months to June 30, an increase of 34% from the previous year, however falling short of analysts forecasts of ¥184bn (£20.4bn). It revealed that total revenue also missed expectations at ¥205.74bn (£22.8bn), despite this marking an increase of 34%. In…
Read More » -
4 August
New Look posts Q1 profits of £15m
New Look has swung to a £15m adjusted EBITDA profit in the first quarter of FY22, compared with losses of £16m in Q1 FY21. The group reported that total revenue increased 181.7% year-on-year to £194.4m during the 13 week period ended 26 June 2021. However, the fashion retailer also announced…
Read More » -
4 August
THG to acquire Cult Beauty for £275m
THG has announced it has agreed to acquire Cult Beauty, the UK based online beauty retailer, for a total consideration of £275m. Cult Beauty is the authorised online retailer of over 300 third party brands across skincare, haircare and cosmetics, including Charlotte Tilbury, Drunk Elephant and Huda Beauty. Currently less…
Read More » -
4 August
Ted Baker appoints two new non-executive directors
Ted Baker has announced the appointment of Fumbi Chima and Meg Lustman as independent non-executive directors of the company. Fumbi Chima is currently executive vice-president and chief information officer at BECU, the US-based credit union. She has also previously served similar roles at Adidas, Fox Network Group, Burberry, Walmart Asia’s…
Read More » -
3 August
Wolverine World Wide acquires Sweaty Betty for £295m
Wolverine World Wide has announced that it has acquired UK retailer Sweaty Betty in an all-cash transaction valued at approximately $410m (£295m). Founded in 1998 in Notting Hill, Sweaty Betty offers a wide array of tops, bottoms, swimwear, outerwear, and accessories. Julia Straus, CEO, Sweaty Betty, said: “From the moment…
Read More » -
3 August
VF Corp H1 revenues soar 104% to $2.2bn
VF Corporation, the apparel and footwear group, saw revenues increase 104% year-on-year to $2.2bn (£1.58bn) in H1 FY22. The owner of Vans, The North Face, and Dickies also reported a swing to $324m (£232m) net income for the period, up from net losses of $286m (£205m) in FY21. In turn,…
Read More » -
3 August
Mike Ashley’s Frasers Group pens letter urging MPs for Debenhams probe
Mike Ashley’s Frasers Group has reportedly sent a letter to parliament urging them to launch an independent investigation into Debenhams’ collapse in 2019. According to Sky News, which reports it has seen the letter from Frasers CFO Chris Wootton, the letter claims that the Debenhams board was culpable for its…
Read More » -
3 August
Greggs to add 100 new stores as it returns to profit
Greggs has announced it plans to open 100 new stores this year after it revealed it had returned to profit for the 26 weeks ended 3 July 2021. For the half-year period it posted profits of £55.5m compared with the previous year’s loss of £65.2m. Total sales also climbed to…
Read More » -
3 August
Joules returns to profit in FY21
Joules has announced that it has returned to profit in its latest full-year results, rising to a pre-tax profit of £6.1m, up from a loss of £3.9m the prior year. It comes as its group revenue saw an uptick of 4.3% to £199m in the full-year ended 30 May 2021,…
Read More » -
3 August
Foot Locker acquires Atmos and WSS brands for $1.1bn
Foot Locker is set to acquire Japanese street brand Atmos and U.S.-based athletic footwear and apparel retailer WSS in two separate deals worth approximately $1.1bn (£719m). Atmos sells premium sneakers and apparel across 49 stores globally, including 39 in Japan. In 2020, Atmos generated approximately $175m (£126m) in revenue, more…
Read More »
