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- 2019 -18 March
JD Sports to buy Footasylum for £90.1m
JD Sports has revealed it has made an offer to buy its remaining shares in struggling rival retailer Footasylum in a £90.1m takeover. JD Sports said it had “reached [an] agreement on the terms of a recommended cash offer” which will be financed from JD’s existing cash resources and facilities.…
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15 March
Jobs and stores could go as Green considers Arcadia restructure
Sir Philip Green is preparing to unveil a company voluntary agreement (CVA) for Arcadia in a matter of weeks, Sky News has reported. The proposal could result in a number of job losses and store closures across its high street brands which include Topshop, Miss Selfridge, Dorothy Perkins and Warehouse.…
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15 March
JD Sports named among businesses ‘failing’ on gender diversity
The Investment Association and the Hampton-Alexander Review have written to 69 of the FTSE 350 companies, including fashion retailer JD Sports, outlining concerns about the lack of gender diversity on its boards. The letter, which has been sent to companies who have no women or just one woman on their…
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15 March
John Lyttle joins Boohoo as CEO
Boohoo has announced that former Primark COO John Lyttle has officially joined the online retailer as its new CEO with immediate effect. Lyttle joins boohoo following an eight-year tenure at Primark Stores Limited, a division of Associated British Foods plc. Boohoo said his appointment is a “key constituent” of the…
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15 March
Mild February fails to significantly boost UK retail spending
The total retail spend index in February rose only 3.4 percentage points (ppts) versus a poor performance in January, according to data and analytics company GlobalData. Analysts said this subdued growth was “especially disappointing” in light of the UK experiencing the hottest February on record, which should have driven sales.…
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15 March
Inditex to merge Zara with Zara Home
Inditex is to merge Zara and Zara Home, despite growing the Zara Home brand since 2003. Integration plans have already been implemented in some locations, including St Petersburg, London and Madrid while the brands’ websites will continue to trade separately. For the meantime Zara Home will continue to trade as…
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14 March
B&Q to stop selling wildlife-harming pesticide
B&Q owner, Kingfisher has announced it will become the first retailer to stop selling wildlife-harming pesticides ahead of a government ban next year. The DIY retailer will remove the products from its 1,200 stores and from its online retail arm. The move comes following a government decision last December which…
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14 March
DFS revenues jump 29.1% in H1 results
Furniture retailer DFS has reported a 29.1% increase in group revenue to £422.3m for the 22 weeks ending 30 December 2018. Reported profit before tax more than doubled to £14.1m during the period from £6.2m last year, and underlying pro-forma EBITDA increased by 23.8% to £32.8m. The retailer also opened…
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14 March
Mamas & Papas signs wholesale deal with John Lewis
Mamas and Papas, the leading nursery brand, is partnering with John Lewis and Partners to supply a curated range of products on Johnlewis.com and in-store. The initial range will include best-selling travel items, including its award-winning Ocarro and Armadillo pushchairs and its new Flip XT3 design. In addition to offering…
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14 March
Sports Direct offers Debenhams £150m loan
Debenhams has confirmed it is considering an offer made by Sports Direct for a £150m unsecured 12 month loan. The news comes after the department store announced it was in discussions with its lenders to obtain the funding, a move which seemed to counter shareholder Mike Ashley’s attempt to appoint…
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