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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Dec- 2019 -2 December
One in five small retailers set to close after Christmas
A new survey from Notonthehighstreet has reported more than one in five small retailers said they will close its stores in the next year if Christmas is below average. It was revealed that 22% of small and medium-sized retailers thought they would close within a 12 months amid a poor…
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2 December
Holland & Barrett owner urged to provide cash injection
Billionaire Mikhail Fridman is reportedly under pressure from lenders to inject cash into Holland and Barrett, following a turn down in performance. According to The Telegraph, Friedman is under pressure as bondholders were warned of a “sharp slowdown” in returns from its 767 stores by CEO Tony Buffin. City sources…
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Nov- 2019 -29 November
‘Please respect shopworkers’, says USDAW
The trade union leader of Usdaw has urged shoppers to “keep their cool” this Black Friday. The Union of Shop, Distributive and Allied Workers also announced its support of Labour’s manifesto, that states the party will ensure that “public-facing workers are protected by toughening the law against abuse and violence”.…
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28 November
Dragons’ Den star Peter Jones kicks off Jessops sales talks
Dragon’s Den star Peter Jones has begun talks with potential buyers for embattled camera retailer Jessops, reports have claimed. Sky News said Jones, who owns Jessops, is holding talks with unnamed buyers and discussions are still at an early stage. However, the potential sale remains as only one of the…
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28 November
Primark owner could face shareholder opposition to new bonus scheme
Fashion retailer Primark could face a shareholder revolt next week, after a new bonus scheme could see CEO George Weston receive up to £7m in bonuses. According to The Telegraph, Primark’s parent company Associated British Foods (ABF) is “under fire” from shareholder advice group Pirc over a new long-term bonus…
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27 November
Shop prices fall for sixth consecutive month
Shop prices fell for the sixth consecutive month, according to the November BRC-Nielsen Shop Price Index. Overall prices fell by 0.5% year-on-year compared with a 0.4% price decrease in October. Non-food item prices also decreased by 1.6% year-on-year. Meanwhile, food item prices increased 1.4% year-on-year, reflecting an ease in inflation…
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26 November
Pets at Home reveals ‘strong’ first half results
Pets at Home has reported a “strong” first half in the 28 weeks to 10 October, resulting in a pre-tax increase of 10.2% to £41.7m. Retail sales rose by over 8% in the first half as omnichannel revenues increased by 31.7% to £46.5m The pet retailer said group revenue also…
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26 November
Black Friday offers ‘few genuine discounts’, claims Which?
Nearly all Black Friday deals were either cheaper or available at the same price at other times of the year, according to consumer watchdog Which?. The group analysed prices of 83 tech, home and personal products for the course of a year, starting six months before Black Friday 2018, and…
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25 November
Clarks calls in advisors to review business
Shoe retailer Clarks has called in management consulting firm McKinsey & Co to review its business. A spokesperson told Retail Sector that the company is “unable to share any specific details” of its new strategy, but did confirm that it is “transforming” the brand to “reconnect” with its consumers by…
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25 November
M&S appoints CEO of Tesco’s F&F clothing as new managing director
Marks and Spencer has appointed current CEO of F&F Clothing, Tesco, Richard Price as managing director of clothing and home. Price will join Marks and Spencer next year, with his start date to be confirmed in “due course.” The announcement comes after M&S announced a 17% drop in profits to…
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