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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Mar- 2021 -16 March
Rezolve closes on £540m fundraising
Rezolve, a mobile shopping platform startup, is reportedly closing in on a funding round that would value the group at $750m (£540m). According to Sky News, Dan Wagner, the company’s founder, is on the brink of finalising a $20m (£14.4m) cash injection for the group. City sources told the publication…
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16 March
Thorntons to close all 61 UK sites, 600 jobs at risk
Chocolate maker Thorntons has announced it is to close all 61 of its UK stores, placing over 600 jobs at risk. Announcing the decision on its website, it said the decision comes as it has been “operating for a long time in a tough and challenging retail environment”. It cited…
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16 March
SGS reveals host of new lease deals
SGS, the property company that manages four UK retail and leisure destinations – Lakeside, Atria Watford, Braehead and Victoria Centre – has announced a string of lease renewals, extensions and new deals. One of the deals, will see Apple renew its lease on a 5,502 sq ft space at its…
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16 March
Footfall rises for seventh consecutive week
Footfall across UK retail destinations rose for the seventh time in eight consecutive weeks last week, up 7% according to the latest Springboard data. Footfall rose on five of the seven days last week, increasing by 10% on each day between Thursday and Saturday with a peak of 14.1% on…
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16 March
ScS welcomes ‘record’ H1 amid pent up demand
ScS has welcomed a “record” performance in the half-year ended 23 January 2021, with revenues up by 14.4% to £173.9m, in light of “pent up demand” witnessed over the summer. In the same period, profit before tax rose to £17.7m, up from a loss of £0.6m reported the prior year,…
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16 March
Greggs swings to £13.7m FY20 loss
Greggs has posted a £13.7m loss-before-tax for the 53 weeks ended 2 January 2021, down from profits of £108.3m in 2019. The group attributed its first annual loss since the firm became a listed business in 1984 to “lower-than-normal sales levels” throughout the pandemic. The company’s revenues for the period…
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16 March
JML appoints two new directors to board
JML has announced the appointment of Susan Aubrey-Cound and Simon Hathway as new non-executive directors of its board. The retail group, which owns brands such as Doktor Power, Walkmaxx, Chillmax, and Phoenix Gold, has promoted Kevin Dickens to the position of group marketing director as part of its growth plans.…
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15 March
Screwfix to open 50 new stores in UK and ROI
Screwfix has announced it plans to open more than 50 stores, creating around 600 new jobs in communities across the UK and the Republic of Ireland (ROI) by the end of January 2022. Of the new stores, 40 will be in the UK, creating up to 500 new jobs, with…
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15 March
In The Style announces successful AIM admission
In The Style, an e-commerce womenswear fashion brand, has announced the successful admission of its entire issued and to be issued share capital on the London Stock Exchange’s junior AIM market. The admission sees 5.5 million new ordinary shares and 24 million existing ordinary shares placed at 0.25 pence and…
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15 March
LionRock capital completes Clarks deal
LionRock Capital has confirmed the completion of its partnership with Clarks, as initially announced on 4 November 2020, which will see it acquire a majority stake in the business for an investment of £100m. The board has also announced the appointment of Victor Herrero as executive chairman and CEO, replacing…
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