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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Nov- 2020 -9 November
Frasers Group claims to have been ‘frozen out’ of EWM bid
Mike Ashley’s Frasers Group has reportedly claimed it has been “frozen out” of the auction to acquire three brands from the recently collapsed Edinburgh Woollen Mill Group. According to The Telegraph, Frasers Group “expressed interest”, in the purchasing of Jaeger, Peacocks and Edinburgh Woollen Mill, however it claims consultants at…
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4 November
Covid-19 could shutter 18,000 stores permanently, report shows
18,000 more retail stores face permanent closure in 2020 as Covid-19 restrictions continue to damage the UK highstreet. According to the Guardian, a report published by the Local Data Company (LDC) has revealed that it predicts nearly 15,000 more outlets will be left empty in 2020, compared with 9,169 net…
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4 November
M&S swings to first loss in 94 years
Marks and Spencer has swung to a pre-tax loss of £87.6m in the half-year ended 26 September, down from the £158.8m profit reported the year before, marking its first ever loss in 94 years of trading as a public company. The group saw its profit plummet by 77% to £61.8m,…
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2 November
Christmas footfall predicted to drop by 62%
Christmas footfall over the six weeks from Sunday 22 November to Saturday 26 December across all UK retail destinations will be down by 62%, according to the latest estimates from Springboard. The data analysts said the new national lockdown restrictions will see retailers miss out on the start of “essential”…
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Oct- 2020 -29 October
Frasers Group to open new ‘game-changing’ multi-brand store
Mike Ashley’s Frasers Group, is set to open a brand new multi-fascia store in Portsmouth this weekend, as part of the group’s ongoing elevation programme. The new 51,000 sq. ft store, situated in the Cascades Shopping centre, will feature the brand’s new “premium design”. It is the very first multi-destination…
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29 October
Shoe Zone to close fifth of stores over next two years
Shoe Zone has announced it expects to close a further 90 stores in the next 18 to 24 months, attributing the closures to the continued impact of Covid-19. The shoe retailer said it will close up to 45 stores by April 2021 in a move that will create “numerous” redundancies,…
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28 October
Next Q3 sales fall 17%
Fashion retailer Next has reported a 17.9% decline in Q3 amid the continued impact of the coronavirus pandemic. The firm said its markdown sales were 12.3% lower than last year attributing to “lower footfall” in retail stores and “capacity constraints” in the online warehouses. Cash flow forecast increased by £25m,…
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27 October
Clarks begins landlord talks over restructuring deal
Clarks has reportedly “kicked off” restructuring talks with landlords regarding store closures and rent cuts, according to Sky News. The footwear retailer and its advisers are said to be meeting with landlords this week to discuss a restructuring that would see the chain switch to a turnover-based rent model for…
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26 October
Mike Ashley considers Jaeger bid
Mike Ashley’s Frasers Group is reportedly considering the acquisition of “heritage” fashion brands Jaeger, Austin Reed and Jacques Vert from Edinburgh Woolen Mill (EWM) Group, according to The Sunday Times. Phillip Day’s retail group has struggled in recent months, shutting down 50 stores last week, as part of its administration…
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21 October
Geek Retreat plans on opening 100 more stores
Games and fantasy company Geek Retreat has confirmed its plans to open another 100 stores over the next two years according to the BBC. The new 100 store plan is predicted to create around 600 new jobs. The retailer said it plans on opening sites in Bournemouth, Northampton and Liverpool…
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