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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Jun- 2020 -12 June
The Works aims to reopen 465 stores next week
The Works has announced it is aiming to reopen 465 stores across England, Northern Ireland and the Republic of Ireland next week. The stationery retailer temporarily closed its stores in March due to government guidelines surrounding the coronavirus pandemic. The company said it is following government safety guidelines and each…
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10 June
Signet to close 80 UK stores permanently
Signet Jewelers has announced that it will not reopen 80 of its UK stores, in an effort to emerge “stronger and more efficient” following the Covid-19 crisis. As part of its decision to accelerate its ‘Path to Brilliance’ programme Signet, which has 3,200 stores worldwide, has revealed initially 150 of…
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9 June
Game to reopen stores across England and Northern Ireland
Game has announced plans to reopen all stores across England and Northern Ireland from Monday 15 June, in line with the latest Government guidance. The video game retailer said all stores in Wales and Scotland are ready to re-open, but will remain closed until current guidelines are lifted. Game is…
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9 June
Iceland founder and CEO take full ownership after buying 63% stake
Frozen food retailer Iceland has announced that its founder and executive chairman Sir Malcolm Walker and chief executive officer Tarsem Dhaliwal have taken full ownership after buying out the entire shareholding of the company’s sole external investor Brait. Walker and Dhaliwal have bought Brait’s shareholding in Iceland Topco, representing 63.1%…
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4 June
M&S lowers share award payout for top execs amid Covid-19 pandemic
Marks and Spencer has lowered the share payout for it’s top two executives, amid the ongoing Covid-19 pandemic. This largely affects chief executive Steve Rowe and finance director Eoin Tonge, whose awards have now been lowered from 250% to an intended 175% of their salary. It comes after the retailer’s…
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3 June
28 Oddbins stores saved from administration by unnamed buyer
Off-license retail chain Oddbins has seen 28 of its stores saved from administration by an unnamed buyer. It comes as Philip Duffy and Matthew Ingram, both of Duff and Phelps, announced the sale of a “substantial part” of the business and assets of Whittalls Wine Merchants and associated companies which…
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2 June
Card Factory profits slide in full-year results
Card Factory has revealed that its underlying profit before tax fell 11.8% to £67.2m for the year ended 31 January 2020. In the same period, like-for-like sales were down 0.5%, reflecting “weak” consumer confidence and a decline in high street footfall in the second half of the year. Nonetheless, the…
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1 June
Ted Baker raises £95m rescue fund amid full-year losses
Embattled fashion retailer Ted Baker has announced its intent to raise approximately £95m in gross proceeds to support it through the Covid-19 crisis. It comes after the retailer’s profits before tax slumped to £79.9m for the year ended 25 January, down from the profits of £30.7m it made in 2018.…
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May- 2020 -28 May
McColls appoints Giles David as CFO
McColls Retail Group has announced the appointment of Giles David to its board as chief financial officer (CFO). David will join the group on 1 June having previously held the position of CFO at Casual Dining Group, a position he was appointed to in 2017. He has over 20 years…
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27 May
Bank Holiday footfall surges 50% as lockdown eased
High street footfall surged 49% over bank holiday Monday against Easter Monday, according to the latest figures from Springboard. Footfall across retail parks increased by 42% on Saturday compared with Easter Saturday, whilst footfall across all UK retail destinations on both Saturday and Monday was a third higher than the…
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