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 -12 November
B&M profits plunge by 70% due to ‘disappointing’ German partner
Discount retailer, B&M has reported a 70% drop in profits from £59.5m to £32.3m during the first half of the year attributed to increased costs at its German Jawoll fascia. For the 26-week period ending 29 September, the retailer’s group adjusted profit before-tax decreased by 2.8% to £96m in comparison…
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12 November
Retail staff ‘abused or assaulted’ over 21 times a year, says Usdaw
An average shop worker is verbally abused, threatened or assaulted more than 21 times a year, according to a new report by trade union Usdaw. It said while not all shopworkers “suffer to this extent”, some experience much higher levels of abuse, threats and violence, and interim results from Usdaw’s…
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12 November
Greggs raises profit forecast as sales jump 12.4%
Bakery chain Greggs has upped its profit forecast for 2019 after it reported “very strong trading” as its total sales jumped 12.4% in the six weeks to 9 November. On a like-for-like basis sales in the company’s managed shops also increased by 8.3%, up from 4% when compared with the…
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11 November
Clintons could close up to 66 stores
Greeting cards retailer, Clintons, has revealed plans to shut one in five of its UK stores, and is looking to find cheaper rent on over 200 of its shops. According to the Sunday Telegraph, Clintons is looking to close 66 of its 332 stores and also wishes for the rent…
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11 November
Brexit woes and wet weather dampen October footfall
Retail footfall faced further decline in the month of October, according to new figures from the BRC-Springboard Footfall and Vacancies Monitor. Footfall in non-food stores fell -6.2% from October of the previous year, whilst shopper numbers fell significantly by -3.2%. Reduced footfall was felt in all sectors of retail, across…
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8 November
Mamas and Papas to close six stores as it enters administration
Mamas and Papas has announced job cuts and store closures after it entered administration and sold to Bluegem Capital in a pre-pack administration deal. The private equity firm, which has owned Mamas and Papas since 2014, has regained control over the business’s assets thanks to the deal. The move will…
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6 November
Profits plummet at M&S as clothing sales slide
Marks and Spencer has announced a 17% drop in profits to £176.5m for the first half of the financial year, with continued slumps in clothing sales affecting the high street giant. The first six months of the financial year saw a decline of -5.5% in like-for-like clothing sales, despite the…
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6 November
2800 jobs affected as Mothercare ceases UK trading
Mothercare has announced it is to cease all trading within the UK, putting a potential 2800 jobs at risk. Operating stores will close over the coming weeks and months, with the potential loss of 2485 retail jobs and 384 head office positions. Further losses will be seen at warehouses and…
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5 November
Footfall tumbles further in October
New figures from the Retail Traffic Index show a continued slide in footfall over the month of October. The figures, published today by Ipsos Retail Performance, revealed a year-on-year fall of -6.2% in non-food store visits across the month. Footfall did, however, show improvement against the previous two months, which…
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5 November
Primark profits top £900m in 2019
Fashion retailer Primark has reported an 8% increase in operating profits to £913m, for the year ended 14 September 2019. The fashion chain also saw a 4.2% increase in year-on-year sales to £7.79b, and Primark’s owner ABF hailed the year of “resilient performance” from the high street retailer. Despite like-for-like…
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