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.
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Jul- 2021 -28 July
PMI closes entire IQOS high street portfolio
Global tobacco company Philip Morris International has reportedly closed the entire UK portfolio of its recently opened IQOS shops. According to The Times, some 16 IQOS sites had been launched across the UK, with Philip Morris, owner of the group, claiming in June 2019 that hundreds more would follow. The…
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28 July
Shop prices decline will ‘not last forever’, BRC warns
Shop prices have continued to decline in July, but the lowering of prices may “not last forever” in the wake of Brexit, according to the latest BRC-Nielsen Shop Price Index. Shop price deflation accelerated to 1.2% year-on-year over the month, compared to June’s decrease of 0.7%. According to the BRC,…
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27 July
LVMH reports 56% H1 revenue spike
Moët Hennessy Louis Vuitton (LVMH) has reported a 56% year-on-year revenue rise to €27.7bn (£23.7bn) in H1 FY21. Organic revenues at the luxury retailer also jumped 56% when compared to H1 FY20 and 11% in comparison to pre-pandemic 2019 levels. The group also saw profit from recurring operations jump 44%…
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27 July
LK Bennet launches rental clothing service
LK Bennett has announced a new rental clothing service for a flat monthly fee of £79, in which members can receive two items in their first box and can make unlimited box exchanges with free shipping both ways. Each month, the customer will be able to rent two RTW products…
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27 July
Footfall rises 3.3% but ‘pingdemic’ slows growth
Footfall across UK retail destinations rose by 3.3% last week from the week before, however the hot weather and cautiousness around the ‘pingdemic’ slowed growth throughout the week. According to the latest figures from Springboard, footfall rose in all three destination types, but it revealed that the 4.1% increase in…
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27 July
In The Style return to profit in FY21
In The Style has reported pre-tax profits of £125,000 for the 12 months ended 31 March 2021, up from a previous year’s loss of £2.1m. Revenue also witnessed a sharp increase, rising by 132% to £44.7m up from £19.3m in 2020, benefiting from a 30% growth in customer website visits.…
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27 July
Games Workshop FY21 revenues soar 31% to over £350m
Games Workshop Group, the creator of Warhammer, saw group revenues soar 31% year-on-year to £353.2m for the year ended 30 May 2021. The Nottingham-based miniature wargames provider also reported a 68.8% spike in FY21 profit before tax when compared to the previous year. The company’s trade operation consisted of 55%…
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27 July
Moonpig sees revenues double in FY21
Moonpig has seen its full-year revenues more than double, soaring by 113% to £368.2m in the year ended 30 April 2021, up from £173.1m the previous year, as it delivered 50.9 million orders over the period as customers increased their spending over lockdown. EBITDA also more than doubled in the…
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27 July
Superdry opens new flagship store on London’s Oxford Street
Superdry has announced that it has agreed a deal to open a global flagship store on London’s Oxford Street this Autumn. The store is located at 360 Oxford Street, close to Selfridges and adjacent to the new Bond Street Crossrail station, which is due to open in early 2022. Totalling…
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26 July
Skechers Q2 sales spike 127% to £1.2bn
Skechers has reported a 127.3% year-on-year increase in sales to $1.66bn (£1.2bn) for the three months ended 30 June 2021. The global footwear company’s record quarterly sales also represented a 31.7% jump from Q2 2019. The quarter also saw a return to net profit at the group, rising from a…
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