High Street
The latest news, updates and analysis on the the British High Street and UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Feb- 2021 -25 February
Retail set for 50% April increase to footfall
UK retail destinations are expected to see footfall rise by 47.9% upon the reopening of non-essential retail and outdoor hospitality in April. According to the retail analyst Springboard, footfall from the 12 April will be 128.5% higher than it was for the same week in 2020. High streets and shopping…
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25 February
Primark forecasts £1.1bn sales hit
The owner of Primark is expecting to lose £1.1bn in sales during the first half of its financial year due to the ongoing coronavirus restrictions which prohibit stores to trade. Associated British Foods (ABF) told investors that as a “consequence of the restrictions” placed on Primark it expects sales and…
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24 February
Home Bargains 2020 turnover soars to £2.8bn
TJ Morris, the owner of discount retailer Home Bargains, has reported an annual turnover of £2.8bn for the year ended 30 June 2020. The revenue represents a 13% year-on-year increase as the group’s turnover climbed £321m from its 2019 level. Operating profits also increased by the same margin for the…
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22 February
Shoe Zone finance director steps down
Shoe Zone has announced that Peter Foot, its finance director, has left the company with immediate effect. The board has reportedly started the search for a replacement, with a further announcement due to be made once an appointment has been selected. The departure follows the retailer’s recent FY 2020 expected…
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19 February
Arcadia owed creditors £800m upon collapse
Arcadia, the owner of Topshop, Dorothy Perkins, and Miss Selfridge, reportedly owed £800m to its creditors upon its collapse in November. According to documents seen by the Guardian, the group’s debts were propped up by a pension deficit of £510m when Big Four accountancy firm Deloitte were called in to…
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18 February
850 retail jobs lost a day so far in 2021
New research has found that 850 retail jobs have been lost every working day so far in 2021, with experts warning that this could be just the “tip of the iceberg”. Analysis from The Centre for Retail Research has revealed that administrations by large multiple retailers, those with 10 or…
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18 February
Charity retailers’ progress stunted by lockdown restrictions
Despite an encouraging start to the period, lockdown restrictions have “taken their toll” on the performance of charity retailers in the fourth quarter of 2020, with the outlook for 2021 remaining “very uncertain”, according to accountancy firm BDO. According to BDO’s Charity Retail Sales Tracker, produced in association with the…
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17 February
Westminster Council launches Oxford Street revival initiative
An “ambitious” new framework has been launched by Westminster City Council in a bid to kickstart a “reimagined” Oxford Street and revive the wider district, in order to attract more shoppers to the area post-lockdown. The new Oxford Street District (OSD) framework, developed with key strategic partners, will reportedly deliver…
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16 February
Almost half of consumers shift to online shopping due to covid-19
Almost half of consumers (46%) in 2020 made an online purchase that would have previously been made in-store amid the Covid-19 pandemic. According to a new report by Retail Economics and Natwest, online sales in the retail sector saw five years of growth in just 12 months in 2020 as…
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15 February
Arcadia asset sale gives pension holders new hope
Workers who were saving pensions at Sir Phillip Green’s Arcadia Group have reportedly been told that their savings can be recovered following the sale of property assets at the collapsed company. According to The Guardian, trustees of the Arcadia pension scheme have secured £173m to help fund their retirement through…
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