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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Mar- 2020 -4 March
Travis Perkins revenues rise in full-year results
Travis Perkins has reported a 3.2% increase in revenues for the year ended 31 December 2019. The buildings and home improvements retailer also saw adjusted operating profit growth of 7.8%, driven by an improved performance at Wickes. Wickes, which is owned by Travis Perkins, demonstrated a “strong recovery” in performance…
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3 March
Greggs hails ‘exceptional’ record-breaking year
Bakery chain Greggs has reported a 13.5% increase in total sales to £1.1m for the year ended 28 December 2019. In what was a ‘record-breaking’ year for the group, company-managed shop like-for-like sales were also up 9.2%. Pre-tax profit excluding pre-tax charge was up 27.2% to £114.2m, with an overall…
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2 March
Brighthouse reportedly on brink of collapse
Rent-to-own retailer Brighthouse is reportedly on the brink of collapse, following an increase in customer compensation claims. Sky News said the retailer was forced to place ‘Big Four’ accountancy firm Grant Thornton on “standby” to handle a possible administration in the coming weeks, which would place almost 2,400 jobs at…
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Feb- 2020 -28 February
Consumer confidence rises in February
Consumer confidence has increased two points to –7 this month, according to the latest figures from the GfK. According to its Consumer Confidence Index, three measures increased, one measure decreased, and one measure remained the same during February. The Personal Finance Situation index, which measures changes in personal finances during…
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27 February
British homeware brand Olivia’s saves Houseology from collapse
Luxury furniture and homeware brand, Olivia’s, has completed a deal to buy Houseology, which went into administration last month. Olivia’s, which is part of The Moot Group, acquired all IP and assets, including Houseology’s suppliers and stock, for an undisclosed amount. Olivia’s will continue to run Houseology as a standalone…
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26 February
McColl’s profits down amid ‘softer market’ conditions
Convenience retailer McColl’s has reported a 1.8% decrease in revenues to £1.22bn, attributing store closures and “softer” market conditions to its loss. In its preliminary audited results and trading update for the year ended 24 November 2019 and its trading update for the 11 weeks to 9 February 2020, the…
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25 February
Hotel Chocolat revenues soar in half-year results
British chocolatier Hotel Chocolat has reported a 14% increase in revenues to £91.7m for the half-year period ended 29 December 2019. The retailer said the strong sales growth reflected “continued brand appeal and ongoing product innovation”. It also opened nine new stores in the UK, bringing its portfolio to 125…
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21 February
Phillip Day’s Peacocks acquires Bonmarché
Embattled high street retailer Bonmarché has been sold to Peacocks, part of Phillip Day’s Edinburgh Woollen Mill Group (EWM). According to Drapers, Peacocks has acquired around 200 stores and is in talks with landlords or whether it can acquire the remaining sites. Bonmarché has a store count of around 270.…
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20 February
Retail footfall buffeted by stormy weather in February
Storm Ciara, which hit the UK the weekend of 8 February 2020, saw UK retail footfall plummet by 15.3%. According to the latest figures from Ipsos Retail Performance, the most affected region was the north west of England, with footfall down 18.3% on the same period last year. Storm Dennis,…
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20 February
Laura Ashley reports ‘disappointing’ £4m loss
Fashion retailer Laura Ashley has reported losses before tax of £4m for the half-year period ended 31 December 2019. The retailer attributed the “dissapointing” loss to lower sales in home furnishings and “Brexit uncertainty”, and said revenue disruption was also caused by changes with its Japanese franchise partner. The retailer…
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