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 -14 April
Grocery sales boost retail figures in March
New research has found that grocery sales have boosted overall retail sales in March, despite many categories remaining in decline due to the pandemic. According to KPMG and the British Retail Consortium (BRC)’s retail sales monitor, total retail sales rose by 8.3% in March compared to the same period in…
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14 April
Tesco profits fall 20% despite rising sales
Tesco has reported that pre-tax profits plunged 19.7% to £825m in its latest full-year results, despite UK like-for-like sales increasing by 7.7% to £39.4bn in the period. It comes as the group said the pandemic had “far-reaching” impacts on its operations, as it incurred Covid-related costs of £892m, largely attributed…
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14 April
Landsec collects two-thirds of rent in latest quarter
Landsec has announced that it collected £67m of rent in its latest quarter, two-thirds of the £110m that was due on the 25 March payment date. Of the £33m of rent outstanding, £10m relates to customers who have withheld payment pending documentation of agreed concessions. The 67% of net rent…
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14 April
Naked Wines welcomes new non-executive director
Naked Wines has announced that Darryl Rawlings will join its board as an independent non-executive director. In an announcement, the pure play e-commerce wine retailer has said that Rawlings will also succeed Ian Harding as chairman at the next annual general meeting in August 2021. This comes after Harding previously announced…
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13 April
Boohoo acquires new office in Soho for £72m
Boohoo has announced that it has acquired a new office in Soho for the group’s London-based brands for £72m. The new office is intended to become home for all London-based product, marketing, technology and central support teams, offering flexible working for approximately 600 employees. The news follows the retailer’s recent…
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13 April
John Lewis Partnership appoints financial services director
The John Lewis Partnership has announced the appointment of Amir Goshtai as director of financial services at the firm. Commencing the role on 14 June 2021, Goshtai will be tasked with delivering the growth of the firm’s financial services products. The group is set to commit £100m over five years…
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13 April
Online sales continue ‘solid’ growth in March
Online retail sales continued to show strong growth in March, soaring 71.7% year-on-year, despite the upcoming end of lockdown and promise of in-store shopping in April, according to the latest IMRG Capgemini Online Retail Index. With last March coinciding with the start of lockdown, however, this growth must be put…
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13 April
Quiz revenues plummet 66% amid store closures
Quiz has revealed that total revenues plummeted 66% to £39.7m in its FY21 trading update, as the fashion group was impacted by prolonged periods of store and concession closures. The group also cited the pandemic’s “detrimental” impact on demand for its trademark occasionwear, as social events and activities came to…
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13 April
New Look appoints new chief technology officer
New Look has announced the appointment of Ed Alford to the newly created role of chief technology officer (CTO) with immediate effect. Alford brings over 20 years of international business experience in technology and joins the retailers executive team alongside Nigel Oddy (CEO), Richard Collyer (CFO), Clare Dobbie (chief customer…
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13 April
Sainsbury’s expands Deliveroo partnership
Deliveroo has expanded its partnership with Sainsbury’s with a new two year contract, which will allow customers to order grocery goods via the food delivery app. The trial was initially launched in 10 stores last November, however a further 22 stores in London will be added to the offering. In…
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