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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Nov- 2019 -19 November
Almost 6000 shops closed by major retailers this year, research finds
British retailing may be in “crisis”, after new figures from the Centre of Retail Research revealed that large high street retailers have faced a total of 5,834 store closures so far this year. CRR said this marked a 77% increase from the entirety of closures in 2018, when 3,303 large…
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18 November
Mike Ashley to seek turnover rents across Sports Direct Portfolio
Sports Direct owner Mike Ashley is reportedly seeking rent agreements with landlords that will see them linked to store performance. According to the The Sunday Times, Ashley has asked landlords to turnover rent agreements that will see up to 15% of the rent paid linked to store sales. It is…
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15 November
Carpetright acquired by Meditor
Carpetright has been acquired by its largest investor Meditor Holdings Limited (MHL), in deal which values the retailer at £15.2m. The retailer announced that MHL will acquire the entire issued and to be issued share capital of Carpetright, which is not already owned by the investment management company, and shareholders…
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15 November
Body Shop profits rise amid ‘remarkable’ UK sales performance
The Body Shop has reported an increase in sales and profits in its third-quarter, due to a “remarkable” performance in its UK market. The ethical beauty retailer reported an 18.7% EBITDA surge to £11.6m, resulting in a 1.1% increase in revenue reaching £173.9m. Natura and Co, the parent company of…
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15 November
Co-op announces David McKnight as new director
The Co-operative has confirmed the appointment of David McKnight as new managing director of the Federal Retail and Trading Services. The FRTS acts as the buying group for independent Co-ops, and is owned by the Co-op group and independent retail Co-op societies. It serves over 4,000 outlets in the group.…
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14 November
UK retail sales fall ‘unexpectedly’ in October
UK retail sales “unexpectedly” decreased by 0.1% in October, according to a report from the Office for National Statistics (ONS). The ONS said that in the three months to October retail sales increased by just 0.2%, compared with the same period last year last year, which is the “weakest” growth…
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14 November
Card Factory sales boosted by group expansion
Card Factory welcomed a strong performance this financial year, with a 5% rise in group sales in the year to 31 October. Its latest trading update, posted today, also revealed a yearly growth of 0.9% in like-for-like sales. Sales in the quarter fell 0.4%, though this was due to weaker…
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13 November
The Co-op to open seven new stores in Scotland
The Co-op has announced it is set to launch seven new stores in Scotland this month, as part of a £4.4m investment programme which will create 60 jobs. New Co-op’s will open their doors in Stornoway, Isle of Lewis and Stirling on 15 November and Edinburgh on 22 November. Galston,…
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13 November
£2.9bn investment set to ‘transform’ London’s Oxford Street
The New West End Company, the representative of Oxford, Bond and Regent Street businesses, has announced the 1,000 day countdown to when a total of £2.9bn will be invested within a one mile radius of Oxford Street by 2022. According to the group, this is set to be a “significant…
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12 November
KKR makes £70bn buyout proposal for Walgreens Boots Alliance
Walgreens Boots Alliance, the parent company of high street drug store chain Boots, has reportedly received a £70bn buyout offer from private equity group KKR. According to reports the potential deal comes just three years after KKR sold its final shares in Walgreens from a previous buyout. If it were…
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