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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May- 2019 -16 May
Farfetch revenues jump 39% in Q1
Online fashion retailer Farfetch has reported a 39% increase in revenue for the first quarter of 2019 ending 31 March. Revenues increased by $48.4m (£3.7m year-over-year from $125.6m (97.8m) in first quarter 2018 to $174.1m (135.6m) in 2019. The increase was primarily driven by 43.2% growth in platform services revenue…
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16 May
Yours Clothing sees 87% profit rise
Discount clothing retailer, Yours Clothing has announced it has seen its full year pre-tax profits for the year ending 3 February rocket by 87% up to £12.4m. Yours Clothing also said it saw year-on-year sales rise by 19%, with in store sales rising by 20% and online sales jumping up…
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16 May
Morrisons boss hands back £600,000 in bonuses
The chief executive of Morrisons has waived over a third of his bonus despite the ‘Big Four’ Grocer reporting its third consecutive year of growth in both sales and profits. David Potts has given up £598,000 in bonuses of a potential maximum of £1.7m. The company’s annual report reveals that…
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15 May
Physical entertainment market falls by 17%
The retail market for physical entertainment declined by 17.4% during the 12 weeks to 7 April, attributed to a decline in shopper numbers, fewer major gaming and music releases and store closures for HMV. The research by Kantar showed that physical stores grew their share of the gaming market for…
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15 May
Walmart considering Asda IPO
‘Big Four’ grocer Asda could be listed on the stock market as its parent company Walmart mulls over its future after the CMA blocked the proposed merger with rival Sainsbury’s. According to the BBC Walmart chief executive Judith McKenna told staff at an event in Leeds yesterday that a public…
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15 May
Moss Bros sales boosted by e-commerce during Q1
Moss Bros has reported a 1.5% increase in total sales for the 15 week period ending 11 May, in spite of a “tough trading environment”. The retailer’s overall trading performance continued to show an improvement on the prior year, with both full price retail store sales and e-commerce delivering positive…
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15 May
Retailers rethink returns policies as ‘serial returners’ increase
Some 26% of retailers have seen an increase in the volume of goods being returned in the last two years, according to new findings. Research from Barclaycard revealed that 20% of retailers had taken measures to make their returns policy more stringent in the last year, with a further 19%…
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14 May
Boots profits slump by almost 20%
Profits at Boots UK stores fell by 18.3% last year as sales also struggled. For the year ending 31 August the company, which is owned by Walgreens Boots Alliance, reported profits of £317m and revenues of £6.8bn, a fall of 2.3% compared with the previous year. The fall is also…
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14 May
Kering publishes new standards for animal welfare
Luxury fashion giant Kering has published its new animal welfare standards in order to “ensure and verify” the humane treatment of animals across the group’s supply chains. The first phase of the standards, which launched on 13 May, also include detailed requirements for the treatment of cattle, calves, sheep and…
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14 May
Amazon partners with Next for click and collect service
Next and Amazon today announced Next’s participation in Amazon Counter – a new network of pick up points that allows customers to collect their Amazon orders in-store. Pick up from a Counter location at the fashion retailer is available from hundreds of stores across the UK and on millions of…
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