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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Oct- 2020 -16 October
Poundstretcher to open 50 new stores despite CVA plans
Poundstretcher is reportedly preparing to open 50 new stores in 2021, despite CVA proposals that have resulted in 50 store closures since early July. According to a company poster, Poundstretcher is looking for dozens of new sites to open next year, ranging from existing shop units to development sites in…
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12 October
Poundland acquires Fulton Foods
Poundland has announced its acquisition of Fulton Foods, the Northern frozen food retailer, as the latest part of its transformation programme. The company has been working with Fulton for the last 12 months on the development of its chilled and frozen food range, as well as growing its distribution network.…
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9 October
Retailers record best monthly in-store sales since February
High street sales in September recorded the best monthly in-store results since before Covid-19 began in February, according to new figures. BDO, an accountancy and business advisory firm, said sales at the beginning of September were the second-best weekly total since early March. Sales rose by 65.1% in September compared…
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6 October
Curfew and poor weather leads to second week of footfall decline
Overall, retail footfall across all destinations is 31.4% lower than last year Footfall has declined by 3.5% in the latest figures, and is attributed to both the 10pm curfew and heavy rainfall. According to retail experts Springboard, excessive rain from Wednesday onwards hit shopping patterns. Sunday and Tuesday…
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6 October
Ann Summers moves towards CVA
Ann Summers has suggested that it is likely to launch a CVA after the lingerie retailer failed to negotiate rental terms with landlords. The company has started talks with the British Property Federation, which would likely lead to the beginning of the insolvency process. More than half of the landlords…
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2 October
Clarks pension trustees call in advisers
Pension trustees at shoe retailer Clarks have reportedly drafted in advisors as they seek to secure additional finance for the company. According to Sky News, the company’s retirement holders have called in advisers from FRP Advisory and Penfida after discussions were had with two potential bidders. Just last week it…
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2 October
M&S launches third-party fashion brand partnership
Marks and Spencer has begun stocking independent fashion brands on its site, with debut partner Nobody’s Child launching yesterday (1 October). According to The Guardian, the decision, initially announced in May, seeks to “reinvigorate” the retailer’s “struggling clothes arm” by widening its customer appeal. Nobody’s Child markets itself as “eco-conscious…
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Sep- 2020 -29 September
Card Factory swings to half-year loss
Card Factory has swung to a half-year loss after Covid-19’s economic downturn affected its trading. The retailer saw a £22m statutory pre-tax loss in the six months to 31 July, against the £24.3m profit reported last year. Sales dropped by 48.6% to £100.5m during the six-month period and like-for-like sales…
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29 September
New restrictions see high street footfall drop 6.6%
The government’s new restrictions seemingly took its toll on the high street last week with high street footfall falling by 6.8%, according to the latest figures from Springboard. The new data also shows that footfall across all UK retail destinations declined by -3% last week from the week before, driven…
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28 September
Arcadia Group to put Burton HQ on the market
Sir Philip Green has reportedly put Burton’s former London headquarters on the market, according to The Sunday Times. The owner of Arcadia Group has drafted in agents from BNP Paribas to bring the Tottenham Court Road site to market for an asking price of £80m. The move follows rising pressure…
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