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.
-
Mar- 2021 -9 March
WH Smith lockdown trading exceeds expectations
WH Smith has revealed that the group has delivered a “better than expected performance” during the latest lockdown period. According to the high street retailer, it has “adapted well” to the evolving trading environment and despite reduced footfall, revenue in its High Street business in January 2021 was at 74%…
Read More » -
9 March
DFS revenues jump 17.3% in half-year results
DFS Furniture has announced its revenues increased by 17.3% to £572.6m in the 26 weeks to 29 December 2020, due to a rise in demand for living room furniture during lockdown. The retailer reported a strong trading performance over the period, which included a series of tiered lockdowns across the…
Read More » -
8 March
Shoe Zone swings to £14.6m pre-tax loss
Shoe Zone has posted a loss-before-tax of £14.6m for the 52 weeks to October 2020, following a loss of trade due to Covid-19. The store which employs 3,000 people across the UK, also revealed that revenues decreased by 24.3% to £122.6m. In addition, the group generated net cash earnings of…
Read More » -
8 March
Card Factory seeks fresh funding to aid survival
Card Factory has reportedly drafted in restructuring experts to help secure news funds to support the group through the pandemic. According to the Sunday Times, consultants from Deloitte initially contacted specialist lenders on behalf of the group in efforts to borrow £100m. Half of the funding would reportedly be used…
Read More » -
8 March
February footfall falls by 73.5%
UK retail footfall for February reportedly fell 73.5% year-on-year, the second largest decline seen since May 2020. According to the British Retail Consortium, the drop represented a 3.4% improvement from January’s levels. The data stems from the latest ShopperTrak analysis, which has joined Sensormatic Solutions in turn changing the footfall…
Read More » -
5 March
Sales fall 3.1% in Feb despite record online sales
Shuttered high street shops contributed to a 3.1% decline in total like-for-like sales in February but fashion and homeware helped drive online sales to a record high, new figures from accountancy and business advisory firm BDO LLP reveal. According to BDO’s High Street Sales Tracker (HSST), total like-for-like (LFL) sales,…
Read More » -
5 March
Susie Mulder named global brand president for Timberland
VF Corporation has announced the appointment of Susie Mulder as the new global brand president for Timberland, the outdoor retailer. Mulder begins her new position on 5 April, reporting to VF’s CEO and chairman Steve Rendle, and will also serve on the corporation’s executive leadership team. In her new role…
Read More » -
4 March
February footfall rises across all destinations despite lockdown
Footfall across UK retail destinations rose by 16% in February against the previous month, despite the continuation of lockdown and ongoing restrictions on non-essential retail. According to Springboard’s latest footfall monitor, this marks the largest month-on-month increase for February since its footfall data first became available in 2009. Footfall rose…
Read More » -
4 March
B&M raises FY21 guidance amid strong Q4 trading
B&M has raised its full-year guidance for the financial year ended 27 March 2021, as revenue has risen 22.5% in its fourth quarter to date, despite “uncertainties” remaining regarding the Covid-19 pandemic. Following this strong trading, B&M expects its EBITDA for the full-year to be in the range of £590m…
Read More » -
2 March
Card Factory confirms refinancing plans
Card Factory has issued a liquidity update which confirmed the groups intentions to “refinance” as the banks have provided further waivers in respect of “anticipated covenant breaches” through until 31 March 2021. The group claimed that the banks had taken into account the company’s cash flow projections and that it…
Read More »
