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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Feb- 2020 -10 February
WH Smith seeking overhaul on rent payment to landlords
WH Smith is reportedly urging its landlords to allow the retailer to delay its rent payments as it looks to improve its cashflow. According to The Sunday Times, the newsagent chain is set to ask landlords to switch from receiving rent payments in advance – which is the current industry…
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10 February
Shopping centre footfall rises for first time in three years
Consumers were “attracted back” to shopping centres in January, according to Springboard’s latest footfall monitor. Shopping centre footfall increased by 0.2% against the year prior, which was the first month with an increase since March 2017, and the third month in a four-year period when footfall rose. Meanwhile, footfall in…
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7 February
Retail jobs and applications plummet in January
The retail job market took a blow in the first month of 2020, with job numbers and applications both falling year-on-year, according to independent job board, CV-Library. It comes despite national growth among other industries in both areas, and CV Library said retail businesses “appear to have lost confidence in…
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7 February
Waterstones revenues soar in full-year results
Book retailer Waterstones has reported a 33% rise in profit before tax for the year ended April 2019, despite “a period absent of significant bestselling titles”. According to accounts filed with Companies House, the retailer also saw an 18% increase in operating profit amid rise in stationary, food, gifts and…
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6 February
63% of midlands shoppers want to support independents, survey reveals
A new survey on the shopping habits of residents in Birmingham, Derby, Leicester, Lincoln and Nottingham has revealed that 63% of all respondents consider it “highly important to support local businesses and independent retailers”. Retail PR group Cartwright Communications, which conducted the survey, said that at a time when “empty…
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5 February
Poundland sales jump in first-quarter results
Discount retailer Poundland has reported a 1.3% increase in like-for-like sales for the three-month period ended 23 December 2019. Poundland also reported a “record trading day” on 23 December, serving almost 1.6 million customers. The discount retailer said it benefited from the “continued strong performance” of the Pep and Co…
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4 February
Ikea reveals plans to shutter first UK store, 352 jobs at risk
Ikea UK has announced the proposed closure of its Coventry store in summer 2020, putting 352 jobs at risk. The Coventry store, one of 22 Ikea stores in the UK, was built in 2007 in the city centre one of the earliest examples of the company testing a “new format…
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4 February
Former Poundland owner plans £3.8bn takeover of Pepco
Advent international, the former owner of Poundland, has reportedly teamed up with two rival equity firms to launch a takeover bid for the Pepco Group. According to Sky News, Advent International, which offloaded Poundland in 2010 in a £200m deal, Hellman and Feidman and Mid Europa Partners are preparing a…
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3 February
Hawkin’s Bazaar confirms final stores closures
Embattled retailer Hawkin’s Bazaar confirmed its final store closures over the weekend as part of its administration process. The joint administrators of Hawkin’s Bazaar Limited, Tom Straw and Simon Thomas of Moorfields Advisory Limited, revealed that all of its stores were to close after the weekend of 2 February. Straw,…
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Jan- 2020 -31 January
Consumer confidence rises in January
Consumer confidence in the UK increased over January, according to the latest research from Growth from Knowledge (GfK). The research group’s Consumer Confidence Index has increased two points to –9 during the month, as four measures increased and one measure decreased. The Personal Financial Situation index, which measures changes in…
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