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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Jul- 2019 -22 July
Former Ted Baker boss considering private equity buy-out
Ray Kelvin, founder and former CEO of Ted Baker, is rumoured to be considering a private equity buy-out of the company, according to the Mail on Sunday. The move would take the retailer private under its current management, and comes after Kelvin resigned from his position as CEO and director…
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19 July
Capital and Regional appoints former Debenhams director
Retail property investors Capital and Regional, has appointed former Debenhams director of group property as its new commercial director. Prior to taking the role, he worked at the company as a consultant, and has since been working alongside its senior leadership team to support the company’s community strategy. Hadfield will…
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18 July
Asos issues profit warning amid ‘operational issues’
Online retailer Asos has issued its third profit warning this year, on the release of its trading statement for the four months up to 30 June. The retailer cited “operational issues” as one of the contributing factors to the profit warnings, and the expected steep decline in profits. The retailer…
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18 July
Hotel Chocolat revenues jump 14%
Chocolate retailer Hotel Chocolat Group has reported a 14% increase in revenue to £132m for the year ending 30 June 2019. The retailer opened 16 new stores in the year contributing 5% to group sales year-on-year. Two of the new openings were in the USA, and the group also entered…
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17 July
Nine retailers to open on Broadgate development
Nine retailers are set to open stores on the Broadgate development just outside Liverpool Street Station. Chocolatier, Charbonnel et Walker is returning to the area, and clothing retailer Gant is also opening its first ever east London store. The stores will be joined by skincare brands Kiehl’s, Neom and The…
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17 July
Claire’s announces new CEO
Jewellery and accessories chain Claire’s has appointed Ryan Vero as its new CEO, which will see interim CEO Kevin Corning return to his role on the board. Vero joins the company from Party City Retail Group, where he was president, overseeing nearly 1,000 retail stores in North America and Europe,…
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16 July
Around 16% of UK shops lie empty according to FOI
Corporate restructuring advisor Duff and Phelps has revealed that close to 16% of all UK retail and shop outlets remain empty, according to a Freedom of Information (FOI) request made to local councils. Its research found that over 50,000 units in 418 councils remain closed, an average of 121 empty…
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16 July
Burberry revenues surge in Q1 results
Fashion retailer Burberry has reported a 4% increase in retail revenue to £498m for the 13 weeks ending 29 June, driven by an “excellent” consumer response to newly designed products from designer Riccardo Tisci. Like-for-like sales also jumped 4% during the period, and the retailer’s EMEIA grew by a “low-single…
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16 July
Arcadia receives challenges on CVAs from US property group
Philip Green’s Arcadia has received a challenge from two legal entities of US property group Vornado, in relation to the company voluntary arrangements (CVAs) which were agreed last month. The retailer had all seven of its CVAs approved last month allowing it to restructure to avoid administration, more than 23…
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15 July
Retail footfall ‘slumps’ in June
Footfall declined by 2.9% in June, attributed to the “exceptional and ongoing disruptive political and economic period”, according to retail intelligence firm Springboard. On a three-month basis, footfall decreased by 2.4%, and the six and 12–month averages were found to be -1.3% and -1.7% respectively. High street footfall also declined…
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