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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Jan- 2021 -19 January
Hotel Chocolat’s multi-channel model sees sales boost
Hotel Chocolat has reported a 19% rise in total group revenue in the 13 weeks to 27 December thanks to its multi-channel model, according to the company’s latest trading update. The chocolatier said strong online growth in the UK assisted the business as the pandemic led to temporary store closures…
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18 January
Next in the lead for Arcadia Group
High street retailer Next is allegedly the lead bidder in the race to buy Arcadia Group out of administration, The Sunday Times reports. Next, which is headed by Simon Wolfson, is said to be bidding for the group with US hedge fund Davidson Kempner. However, the pair face competition from…
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15 January
Supreme Court sides with small firms in business interruption insurance case
The Supreme Court has delivered its judgment in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case, with the court’s ruling in the favour of small firms potentially forcing insurers to pay out £1.2bn in CBI claims. Following the judgement, thousands of policyholders will now have their claims for…
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15 January
H&M appoints new communications director
H&M has announced the appointment of Andreas Eriksson as communications director succeeding his predecessor Kristina Stenvinkel. Eriksson, who was the group’s previous head of media relations, will be succeeded by Iñigo Sáenz Maestre, who is currently the senior press officer. Eriksson brings with him extensive experience within communications and leadership…
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15 January
Card Factory sales down 38% in 2020
Card Factory, the greetings cards, dressings, and gifts provider, has announced its sales for the eleven months ended 31 December 2020 were down by 38.1% year-on-year. With Covid-19 leading to mandatory store closures that resulted in prohibited openings for 37% of available trading days, the firm saw its revenue fall…
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14 January
Administrators finalise sale of Bonmarche
The joint administrators of Bonmarche have announced the completed sale of the company to Purepay Retail Limited, which is backed by an international investor consortium for an undisclosed amount. Damian Webb and Gordon Thomson, partners at the accountancy firm RSM, were appointed joint administrators to the company on 30 November…
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12 January
British retailers suffer worst year on record, BRC reveals
British retailers suffered one of the worst years on record for sales growth, a new study by KPMG and BRC reveals. According to the pair’s ‘retail monitor’, total sales declined 0.3% compared with 2019. Sales on non-food items such as clothing also witnessed a 5.0% dip, due to national lockdowns…
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11 January
Buyer found for Edinburgh Woollen Mill
FRP Advisory, the administrator to clothing retailer Edinburgh Woollen Mill, has accepted a rescue offer that could save a number of jobs at the group. According to the Times, sale contracts have been issued to the potential buyer, who remains unnamed, although the deal is reportedly likely to save only…
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11 January
Small retailers could fold without help, FSB warns
Small retailers are among the 250,000 UK small businesses set to fold without further help, a new report by the Federation of Small Businesses (FSB) reveals. According to data published in its Small Business Index (SBI), a “record number” of small business owners are planning to close their companies over…
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8 January
Matchesfashion hit by £5.9m loss
Luxury retailer, Matchesfashion has announced a major loss of £5.9m for the financial year ended 31 January 2020. A report filed at Companies House found that while revenue soared to over £430m for the period, compared to £372m the previous year, the cost of sales, administrations, and distribution outweighed the…
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