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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Feb- 2021 -4 February
JD Sports raises £464.2m to bolster acquisition plans
JD Sports has announced the completion of the placing of new ordinary shares in the business’ capital, which raised £464.2m for the company, to be used for future acquisition plans. A total of 58,393,989 new ordinary shares in the retailer were placed by Investec and Peel Hunt, at an issue…
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3 February
EG Group to acquire Asda’s forecourt business in £750m deal
The EG Group, part of the consortium that is set to acquire ‘Big Four’ Grocer Asda in a £6.8bn deal, has announced it will also acquire Asda’s petrol forecourt business for £750m. EG’s acquisition of the forecourt business is subject to the same CMA regulatory clearance being received by the…
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3 February
OnBuy January sales surge 800%
OnBuy.com, an online retail marketplace, has reported an 800% year-on-year growth in sales for the month of January. The surge in revenue, which surpassed January 2020’s results within the first three days of the year, will reportedly support the group’s intentions to launch an investment round. The company, which has…
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3 February
‘Uncontrolled conversions’ plan will ruin high street, warns BPF
The British Property Federation (BPF) has launched an appeal to combat the government’s recently proposed “uncontrolled conversions” plan, which would see high street property spaces being converted into residential ones. The government’s consultation proposing a new Permitted Development Right (PDR), which would enable more commercial, business and service premises on…
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3 February
Jeff Bezos to step down as Amazon CEO
Amazon has announced that founder Jeff Bezos will step down from his role as CEO in Q3, and instead transition to the role of executive chair. Bezos will be succeeded by Amazon Web Services CEO Andy Jassy who has been with the company since 1997. The news follows Amazon’s latest…
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3 February
Buy-now-pay-later to be regulated following FCA review
Buy-now-pay-later schemes are set to face stricter regulations and controls after the Financial Conduct Authority (FCA) published a review into the unsecured credit market. BNPL products have seen a “rapid” increase in popularity as the pandemic has continued to drive online shopping. These purchases nearly quadrupled in 2020, with sales…
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3 February
13,000 Scottish retail jobs were lost before Covid-19, SRC reveals
13,000 Scottish retail jobs were lost between 2016-2018, a new paper by the Scottish Retail Consortium (SRC) reveals. The report entitled ‘Road to Retail Recovery’ also found that £3.48bn in annual turnover was lost from the industry between 2014-18; figures which are likely to “severely worsen” when the full account…
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2 February
Footfall remains above first lockdown levels despite poor weather
Footfall across UK retail destinations rose by just +0.4% last week from the week before as poor weather deterred high street shoppers, according to the latest data from retail experts Springboard. It found that there was a “noticeable increase” in visits to retail parks as footfall rose by +4.7% and…
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2 February
THG completes £250m Dermstore deal
Online health and beauty retailer, The Hut Group (THG) has completed the acquisition of Dermstore, a US-based skincare and beauty ecommerce company, for £251m. Established in 1999, Dermstore provides “professional grade skincare” throughout the US, and has reportedly been targeted by Matthew Moulding, executive chairman and CEO at the company,…
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2 February
Moonpig valued at £1.2bn amid market debut
Moonpig has entered the London Stock Exchange with a market capitalisation of £1.2bn, following the successful pricing of its initial public offering at 350 pence per share. The flotation includes 5.7 million new shares issued to raise gross proceeds of approximately £20m, and 134.6 million existing shares sold by existing…
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