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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Dec- 2018 -12 December
Walmart to acquire online home decor retailer Art.com
US retail group Walmart has announced it is to acquire online home decor retailer, Art.com for an undisclosed sum. The retail group is expected to close the deal next year, which it says will “enhance the customer experience” in the wall art sector. Art.com, which has been running since 1998,…
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12 December
Superdry mulls store closures as profits drop 49%
Fashion retailer and brand Superdry has issued a profit warning after pre tax profits fell 49% to £12.9m in the 26 weeks to 27 October 2018. Group revenue was up 3.1% to £414.6m in FH19 compared with £402m in the first half of 2018. With regards to its outlook the…
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11 December
Carpetright swings to £11.7m loss in H1 results
Embattled retailer Carpetright has reported losses before tax of £11.7m for 26 weeks ending 27 October 2018, compared with the £600,000 loss recorded during the same period last year. Group revenue decreased by 15.7% to £191.1m, and underlying EBITDA declined by £1.7m, compared with the profit of £8.6m recorded during…
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11 December
Major retailers’ e-receipts ‘may break data protection rules’
New research has found that major retailers “may break data protection rules” for sending promotional marketing to shoppers who had asked for no promotional emails. The research by Which?, saw mystery shoppers sent to 11 retailers: Topshop, Clarks, Gap, New Look, Dorothy Perkins, Arcadia Group (Miss Selfridge, Outfit, Burton), Schuh,…
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11 December
Mysale warns of half-year loss
Mysale, the online retailer that both Mike Ashley and Philip Green have a stake in, has warned it expects to make an underlying loss in its first half to December 31. It also announced that full-year sales and profits are set to be “significantly” lower than expected attributed to “challenging…
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11 December
Online non-food spend to top £75bn by 2023, data suggests
Total online spend is forecast to rise 34.5% over the next five years, reaching over £75bn by 2023 as consumers continue to shift spend to digital channels. With online retail spend set to rise 7.5% this year while offline spend increases by just 1%, UK consumers are set to spend…
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11 December
Poundstretcher posts profit decline
Discount retailer Poundstretcher overall profits for the financial year ending 31 March 2018 fell to £1.7m compared with the previous year’s figure of £2.1m. Its profit before tax dropped from £2.7m to £2.1m over the same period. The company’s turnover dipped to £387.4m compared with the previous year’s figure of…
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10 December
Welsh high street retailers to get £2,500 each in business rate cuts
The Welsh government has announced it is to give retailers £2,500 each in business rate cuts. Finance secretary, Mark Drakeford has announced a £23.6m investment to enhance and extend the government’s high street rates relief scheme until 2020. Around 15,000 businesses are expected to receive the enhanced support from April…
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10 December
Footfall struggles to keep up in November
Footfall in November fell by 3.2%, a significant decline on the previous year when it grew by 0.2%, according to new figures from Springboard. According to the research, it is the twelfth month of consecutive decline, and the group added that the numbers illustrate the ‘Black Friday’ effect of driving…
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10 December
Amazon eyes London’s West End for cashierless store
Amazon is planning to open one of its cashierless Amazon Go stores near Oxford Circus in London’s West End, its first in the UK. According to The Sunday Telegraph the opening of a UK store, which will the company’s UK flagship, is being orchestrated by Amazon’s US arm and not…
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