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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Feb- 2019 -20 February
Sainsbury’s-Asda merger at risk over ‘extensive competition concerns’
The Competitions and Market Authority (CMA) said it has provisionally found “extensive competition concerns” as part of its in-depth investigation of the proposed merger between Sainsbury’s and Asda. Shares in Sainsburys dropped by 12.89% in early trading this morning (20 February), after the CMA said the proposed deal could lead…
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20 February
Footfall drops at Intu shopping centres
Footfall at Intu shopping centres have seen a 1.6% decrease according to the group’s full year results for 2018. However, the company said it demonstrated a “resilient operational performance” despite a “challenging environment” as it claimed to outperform the national ShopperTrak retail average of a 3.5% decline in footfall. Intu’s…
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19 February
JD acquires 8% stake in Footasylum
Sportswear retailer JD Sports has acquired an 8% stake in footwear retailer Footasylum. JD said it had purchased the stake “for investment purposes”. The company said it was prepared to take on an interest of 29.9%, hovering just below the limit for a mandatory takeover bid, however it added it…
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19 February
John Lewis shortlists six start-ups for its innovation programme
The John Lewis Partnership has shortlisted six retail start-ups to its innovation programme JLAB, who could “transform how we shop in the future”. Over 160 new start-ups and more established businesses entered John Lewis’ ‘experiential retail challenge’ with the chance of being selected to develop their ideas with the company.…
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19 February
Game and Argos’ market share boosted by major game releases
Game and Argos have reported increased growth in physical entertainment market shares for the 12 weeks to 13 January 2019, growing faster than the rate of large online retailers such as Amazon and Ebay. According to the latest figures from Kantar Worldpanel, sales of games, videos and music at Game…
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19 February
Majority of shoppers say Brexit won’t affect spending
A survey of over 2,000 consumers conducted by PwC has shown that more than 60% of respondents said Brexit will not and has not affected how much they will spend for the year ahead. The findings in PwC’s 2019 Retail Outlook revealed respondents in the north east of the country…
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18 February
BRC hits out at HMRC over ‘unreasonable’ pay rules
The British Retail Consortium (BRC) has demanded HM Revenue and Customs (HMRC) ceases action against retailers who have breached pay rules deemed “no longer fit for purpose” by the trade body. Retailers called the minimum wage regulations and chasing from the taxman “unreasonable” while the regulations are under review by…
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18 February
Philip Day eyes M&S and House of Fraser stores
Retail entrepreneur and Edinburgh Wooden Mill boss Philip Day is reportedly in talks to acquire a small number of Marks and Spencer and House of Fraser stores that are set to close. According to the Sunday Telegraph, Day is aiming to turn the stores into branches of his Days department…
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18 February
Canada Goose revenue up 50% in 2018
Fashion retailer Canada Goose has reported a 50.2% increase in total revenue to $399.3m (£309.1m) in 2018, compared with $265.9m the previous year. Wholesale revenue increased to $164m (£126m) from $134m (£103m), with the increase primarily attributed to higher order values from existing partners, coupled with earlier shipment timing relative…
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18 February
McColls profits halve due to ‘supply chain disruption’
Convenience retailer McColls profits before tax dropped from £18.4m to £7.9m in the 52 weeks to 25 November 2018, impacted by the administration of wholesaler Palmer and Harvey. The wholesaler worked with 90,000 retailers in the UK before it collapsed in November 2017 with debts of £65m. McColls’ total revenue…
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