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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Sep- 2020 -10 September
125,500 retail jobs lost since start of 2020
Some 125,515 retail jobs have been lost since the start of 2020, according to the latest data from the Centre for Retail Research (CRR). Of this figure, 43,381 jobs were lost through administrations, 10,556 through CVAs and 71,578 through rationalisation schemes. The UK’s embattled high street has also seen the…
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9 September
Travis Perkins profits slump 80%
Travis Perkins has reported a 80.9% decrease in adjusted operating profits to £42m for the half-year period ended 30 June 2020. This reflected “shortfall” from lower sales volumes, and was partially offset by actions to reduce and control operating costs. The retailer also reported a 20% fall in revenues to…
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8 September
JD Sports revenues slide in half-year results
JD Sports has reported a 6.5% decrease in total revenue to £2.5bn during the half-year period ended 1 August 2020. The decrease in revenue was split between sports fashion sales, which reduced by 4.6% to £2.4bn, and its outdoor range, which saw sales sink by 30.2% to £142.5m. Additionally, total…
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3 September
Shop prices fall in August
Shop Prices fell by 1.6% in August compared to a decrease of 1.3% in July, according to new data from the British Retail Consortium (BRC). This is below the 12 and six-month average price decreases of 1.0% and 1.5%, respectively. Non-food prices also fell by 3.4% during the month, compared…
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3 September
Retail vacancy rate reaches six-year high
Retail shop vacancies have reached a six-year high due to the impact of the coronavirus pandemic, according to new research from Springboard. The research found the UK vacancy rate rose to 10.8% in July up from 9.8% in January, which means it is now at the highest level since January…
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2 September
EOHO boosts retail footfall in last week of August
Footfall across all UK retail destinations rose by 6% over the week ended 29 August, according to the latest figures from Springboard. The latest figures still marked an annual decline of 26.1%, though this was a “noticeable improvement” against the year-on-year decline of 30.7% the week before. In the final…
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1 September
Mike Ashley warns PM of rates review delay
Retail tycoon Mike Ashley has reportedly written to prime minister Boris Johnson warning of the “disastrous consequences” if the government doesn’t conduct a review of the current business rates system. According to The Times, in a joint letter with Fraser CFO Chris Wootton, Ashley warned that without action he believes…
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1 September
Moss Bros mulls possible CVA
Moss Bros is reportedly consdering a CVA after calling in advisers, following a ban on large weddings and events such as Royal Ascot which impacted sales during the Covid-19 pandemic. According to the Times, the retailer has called in KPMG to assist with restructuring, with reports that 125 stores are…
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Aug- 2020 -28 August
Pret a Manger to cut 2,800 jobs
Pret a Manger has confirmed it is to cut 2,800 high street jobs as part of a restructuring following almost two months of consultations with team members. The high street chain said that although sales and footfall have started to show “clear signs of recovery”, Pret sales over the last…
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26 August
Retail jobs in sharpest fall since 2009
Retail employment fell at the fastest rate since February 2009 in the year to August, with an even sharper decline anticipated in the year to September, according to the CBI’s latest monthly Distributive Trades Survey. The survey – which featured 63 retailers among its 128 respondents – also showed a…
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