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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Apr- 2019 -25 April
Online retail sees ‘subdued’ growth in March
Online retail recorded growth of just 5% year-on-year (YoY) in March, compared with 18.9% last year, according to the latest IMRG Capgemini eRetail Sales Index. While still positive growth, the “subdued performance” fell significantly below the three (+7.5%), six (+7.1%) and 12- (+10.2%) month rolling averages. Breaking it down further,…
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24 April
Primark HY profits surge 25%
Primark has seen its half-year operating profit jump 25% to £426m during the six months ending 2 March. Primark said the increase reflected “its continued selling space expansion and improved margins, which were driven not only by favourable exchange rates but also by better buying”. Sales at Primark were also…
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24 April
Boohoo revenues surge 48% in 2018
Online fashion retailer Boohoo has reported a 48% increase in revenues to £856.9m for the year ending 28 February 2019. Pre-tax profit also jumped 39% to £59.9m, and adjusted EBITDA increased to £84.5m, 9.9% of revenue, compared with the £56.9m reported the previous year. Additionally, its PrettyLittleThing and Nasty Gal…
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24 April
Majestic Wine could sell all UK stores as it moves online
Specialist wine retailer Majestic Wine could sell all 200 of its UK stores as the business prepares to move its operations online under the Naked Wines brand. The company has reportedly appointed investment bank Rothschild and Co to discuss options on a potential sale. Last month, the company announced its…
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23 April
British Land to sell its 12 Sainsbury’s stores for £429m
British Land has announced the sale of 12 superstores from its joint venture with Sainsbury’s to the Realty Income Corporation for a price of £429m. The company said its share of the proceeds totals £193.5m representing a “modest premium” to September 2018 book value. The move is the latest example…
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23 April
Hot weather increases high street footfall over Easter weekend
High street footfall over the Easter bank holiday weekend increased by 6.5% on Friday, 1.2% on Saturday and 8.4% by 12pm on Easter Monday, as a result of the hot and sunny weather. According to retail intelligence firm Springboard, the result is a “clear contrast” to Easter 2018, when poor…
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23 April
Asos and Zalando retail tycoon loses children in Sri Lanka attacks
Anders Holch Povlsen, a Danish billionaire with stakes in both Asos and Zalando, has lost three of his four children in the Sri Lanka bombing attacks. His family were visiting the country over the Easter break and a spokesman for Bestseller, the international clothes retailer chain Holch Povlsen owns, confirmed…
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18 April
Debenhams CEO exits
Sergio Bucher, CEO of department store Debenhams, has stepped down from his role just a week after the company went into administration and under the control of its lenders. His departure is expected to allow new leadership to conduct the restructure and turnaround of the business. Debenhams entered a pre-pack…
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18 April
Largest store for 25 years opens in Centre:MK
Centre:MK is set to open its largest store in 25 years with the opening of a 75,000 square foot Primark in the former site of BHS. The new store on Silbury Arcade opens a week after Primark opened its largest ever store in Birmingham. The new store at Centre:MK has…
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18 April
UK retail sector bounces back in March
In the three months to March 2019, the quantity bought in retail sales increased by 1.6% compared with the previous quarter in 2018, according to new figures from the ONS. The sales increase has been attributed to “sustained growth” throughout the first three months of the year, and all store…
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