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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Apr- 2021 -15 April
The Carlyle Group acquires majority stake in Beautycounter
The Carlyle Group has announced that it has acquired a majority stake in Beautycounter in a transaction that values the company at $1bn (£725m). The partnership will allow Beautycounter to accelerate its strategic initiatives, including increasing brand awareness as well as bolstering the company’s omni-channel business model. Gregg Renfrew, founder…
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15 April
AO World FY21 revenues hit £1.66bn as UK sales surge
Online retailer AO World has revealed its FY21 group revenues increased 62% to £1.66bn, thanks in part to a strong Q4 performance from its UK website. It comes as AO.com reported an 88% increase in year-on-year revenues in Q4 as the group welcomed an additional 2 million customers during the…
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15 April
The Hut Group revenues soar 42% in ‘milestone’ year
The Hut Group has announced that group revenues soared by 42% to £1.6bn in its full-year results, as the wider consumer shift to digital channels “continued apace”. In what was a “milestone” year for the group, EBITDA was up by 35% to £150.8m in the period and new customers rose…
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15 April
MPs take evidence on violence against retail workers
The Home Affairs Committee opened its inquiry into violence against retail workers yesterday (14 April), with MPs taking evidence from industry leaders, trade associations and unions. The new inquiry will examine the “barriers” to reporting incidents and the quality of support provided to victims by police and employers, as well…
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15 April
British Land eyes open-air retail parks
Property group British Land has unveiled plans to invest in more out-of-town retail parks as it capitalises on a click and collect strategy. The company is set to bet on a faster return of open-air locations where social distancing can be more easily managed than in covered shopping centres. In…
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15 April
Asda in talks with bakery staff as store ditches ‘scratch’ baking
Asda is in redundancy talks with a number of staff after deciding to close nine of its bakeries as part of proposals to “transform” its in-store baked goods offering. Asda, which is Britain’s third-largest grocery chain, said that move comes after it noticed a “shift” in customer buying behaviours in recent…
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14 April
Aldi trials ‘package-free’ products at Cumbria store
Aldi has launched a trial selling its first packaging-free products to help customers shop more sustainably at its Ulverston, Cumbria store. If successful, the move could see more than 130 tonnes, or more than 21 million pieces of plastic removed annually from stores. The products are available by weight, with…
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14 April
Sosandar predicts 35% FY21 revenue growth to £12.2m
Sosandar, the online women’s fashion brand, expects to report a 35% year-on-year revenue rise to £12.2m for the financial year ended 31 March 2021. While the group does expect an EBITDA loss for the year, this is set to be reduced by 60% when compared to 2020’s losses. The e-commerce…
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14 April
LVMH Q1 revenues soar 32% to £12.1bn
Moët Hennessy Louis Vuitton (LVMH) has revealed its total revenues for the first quarter of FY 2021 rose 32% year-on-year to £12.1bn. The group posted a return to growth across the majority of its departments, including a 138% year-on-year watches and jewellery revenue increase. LVMH’s wines and spirits business group…
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14 April
First day of reopening sees UK footfall rise 155%
The first day of reopening saw footfall in UK retail destinations rose yesterday by +155.2% from the same day last week, and by +225.2% in shopping centres, according to the latest data from Springboard. It found the rise in footfall in high streets was slightly lower at +176.1% and was…
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