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.

  • Aug- 2020 -
    11 August
    Frasers Group mulls Debenhams acquisitions

    Frasers Group mulls Debenhams acquisitions

    Frasers Group owner Mike Ashley is reportedly looking to acquire up to 30 Debenhams stores. According to the Mail, sources claim Ashley has discussed the acquisition proposals with senior members of staff, and a potential statement clarifying the speculation could be released this week. Ashley has previously attempted to take…

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  • 10 August
    Baird Group launches CVA proposal

    Baird Group launches CVA proposal

    Baird Group has launched a Company Voluntary Arrangement (CVA) proposal in order to safeguard the “long-term future” of the group. The group, whose portfolio includes Ben Sherman and Suit Direct, worked with KPMG’s Restructuring practice to review “all options” available to address the challenges presented by the pandemic. As a…

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  • 10 August
    WH Smith seeks rent cuts

    WH Smith seeks rent cuts

    WH Smith is reportedly seeking rent cuts from its landlords as it looks to cut costs. According to The Sunday Times, the retailer has drafted in advisers Gerald Eve to negotiate with landlords across its portfolio of over 1,000 UK stores located on the high street and at travel hubs. …

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  • 7 August
    Usdaw warns business rates increase could risk more jobs

    Usdaw warns business rates increase could risk more jobs

    Retail trade union Usdaw has expressed “major concerns” over reports that the government is considering increasing business rates for premises with a rateable value over £51,000. The news comes as reports suggest Rishi Sunak is considering increasing business rates in an effort to boost the UK economy. Instead, Usdaw is…

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  • 6 August
    McColls reports H1 sales rise as Covid drives demand

    McColls reports H1 sales rise as Covid drives demand

    Convenience chain retailer McColls has reported an 8.3% increase in sales for the first half of the financial year after the company benefited from “stronger demand” for food and alcohol amid the Covid-19 pandemic. During the six months to 24 May, McColls reported a 1% decrease in total revenues to…

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  • 5 August
    WH Smith to axe 1,500 roles

    WH Smith to axe 1,500 roles

    WH Smith has launched a collective consultation that could see around 1,500 roles across the business axed in a bid to restructure the business. It comes as the group said it expects to deliver a full-year loss of between £70m and £75m following impacted sales.  The retailer said that the…

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  • 4 August
    Mandatory face coverings sparks ‘modest’ uplift in footfall

    Mandatory face coverings sparks ‘modest’ uplift in footfall

    Footfall across all UK retail destinations saw a “modest” uplift last week, with footfall up by 2.8% against the week prior. According to Springboard, this may have been boosted by the mandatory use of face coverings in shops, after footfall was up by 4.4% the weekend the rule was introduced. …

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  • Jul- 2020 -
    31 July
    TUI to shutter 166 stores

    TUI to shutter 166 stores

    TUI is set to close 166 high street stores in the UK and Ireland as it “adapts to changes in customer behaviour” caused by the Covid-19 pandemic. The group said the impacted stores were selected based on a number of factors, including local market data, consumer trends and predictions on…

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  • 31 July
    Pets at Home sales stabilise in quarterly results

    Pets at Home sales stabilise in quarterly results

    Pets at Home has announced that total group revenue fell by 1% in the quarter ended 16 July, while like-for-like revenue was down by 0.7% in the period.  Amid the onset of the pandemic, the first eight weeks of the period saw like-for-like revenue tumble 13.5%, though this was later…

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  • 31 July
    ScS reports ‘strong’ growth in lockdown-sales

    ScS reports ‘strong’ growth in lockdown-sales

    Furniture retailer ScS has said trading has been “very strong” both in-store and online, since the reopening of its stores following the coronavirus lockdown, reporting a 92.2% increase in orders since 24 May. However, ScS reported a 92.5% drop in sales during the lockdown period as stores were temporarily closed.…

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