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 -11 February
Two-fifths of retailers expect Valentine’s sales boost
Two-fifths of retailers (41%) expect to see a boost in sales in the run up to Valentine’s Day. According to Barclaycard Payments, £787m is expected to be spent on the celebratory day, despite ongoing Covid-19 restrictions. As a result of the expected 26% spike to predicted sales, 63% of retailers…
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10 February
Arcadia employees press for legal action
Law firm Simpson Millar has been contacted by over 30 former Arcadia employees looking to press legal action against the retailer after their jobs were lost through the nature of the group’s takeover. Last week saw Asos snap up Topshop, Topman, and Miss Selfridge for £265m, while online retailer Boohoo…
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10 February
Dune launches CVA targeted at cutting rent costs
Dune has announced the launch of a CVA prospal targeted at cutting rent costs across its 43 stores and 175 concessions. According to Daniel Rubin CEO and founder of the Dune Group, before the pandemic the high street chain was “trading robustly”- however continuous stop-start lockdowns had a “severe financial…
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9 February
John Lewis Partnership introduces more than 50 fashion brands
John Lewis Partnership has announced it will be introducing more than 50 new fashion and beauty brands as part of its plans to continue modernising its fashion offering. Last week, the group launched high street brand Mango across its womenswear, shoes and accessories. Additionally the company revealed it will be…
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9 February
Cornhill retail development adds Superdry and Waterstone stores
Lincoln’s Cornhill Quarter, which is subject to a £70m redevelopment from Lincolnshire Co-op, has announced two additional high profile retail signings to the scheme. A Superdry franchise store will be added to the ground floor of the Waterstones building, with the designer clothing brand Richard Goddard operating from the first…
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8 February
Retail sales fall 10% in January
Total like-for-like retail sales declined by 10% in January as both the national lockdown and impact of Covid-19 affected shops across England, according to BDO’s High Street Sales Tracker. It found that lifestyle total like-for-like sales fell to 16.7% in January. This month’s result reportedly marked “the worst” since June…
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4 February
Retail footfall drops 65.6% in first full month of third lockdown
Retail footfall has declined 65.6% in January compared with a 41.9% drop in December, as the first full month of the third national lockdown comes to an end. According to Springboard, footfall declined by 72.6% in high streets a further 73.6% in shopping centres and 42.1% in retail parks. However,…
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3 February
‘Uncontrolled conversions’ plan will ruin high street, warns BPF
The British Property Federation (BPF) has launched an appeal to combat the government’s recently proposed “uncontrolled conversions” plan, which would see high street property spaces being converted into residential ones. The government’s consultation proposing a new Permitted Development Right (PDR), which would enable more commercial, business and service premises on…
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2 February
Footfall remains above first lockdown levels despite poor weather
Footfall across UK retail destinations rose by just +0.4% last week from the week before as poor weather deterred high street shoppers, according to the latest data from retail experts Springboard. It found that there was a “noticeable increase” in visits to retail parks as footfall rose by +4.7% and…
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1 February
JD Sports set to acquire DTLR Villa for £360m
JD Sports has announced that it has entered into a conditional agreement for the acquisition of 100% of DTLR Villa for a total cash consideration of $495m (£360m. The UK retailer claimed that approximately $100m (£72.8m) of the total cash will be used to repay existing indebtedness of the company.…
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