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In the news this week… Retail Round-up

Including sales uplifts for Hobbycraft, Tesco and John Lewis.

The Source rounds up some of the key retail stories of the week.

Arts and craft specialist Hobbycraft has enjoyed a 7.6% increase to its full year sales, which have reached £151.8 million. The retailer is three years into a business transformation programme, and it also saw strong growth in online sales, growing 36.4% and accounting for 6.6% of turnover.

Tesco has reported a slight increase in first quarter group like for like sales, up 0.9%. Meanwhile, the 13 weeks to May 28 saw like for like sales growth in the UK and Republic of Ireland business of 0.3%. The retailer will complete the integration of its customer websites for Tesco Direct and F&F this month.

BHS will continue to trade throughout the summer, looking to shift seasonal stock before operations are brought to an end, according to Retail Week.

Shop Direct’s is to launch a new own label clothing brand – V by Very. The new womenswear collection will be unveiled to consumers on September 5 and will include clothing, footwear and accessories.

John Lewis has reported a sales uplift of 4.2% for last week. Trade was boosted in the run up to Father’s Day, with electricals and home technology rising 7.4% and fashion sales up 2% – although some summer lines struggled due to the weather. The home category edged up 3.7%, boosted by a 7% lift in sales of home accessories and gifts.

The latest Colliers International Midsummer Retail Report has suggested that over 10 million square feet of shopping centre developments planned for construction during the next five years are unlikely to be built. This is down to the retail sector ‘reshaping’ in the face of curtailed retailer expansion, online and lower rents.

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