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 -15 July
Sports Direct delays FY results amid House of Fraser ‘complexities’
Shares in Mike Ashley’s Sports Direct have fallen by 11% in early trading this morning after it delayed its full-year results citing “complexities” around its House of Fraser acquisition. The results, which were due on Thursday, have been delayed due to “the current uncertainty as to the future trading performance…
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15 July
Sports Direct increases stake in Game to 84%
Mike Ashley’s Sports Direct has moved a step closer to purchasing video game retailer Game, after it increased its stake in the company to 84%. The retail group has also put forward an application for Game’s shares to be suspended from trading on the London Stock Exchange (LSE), and for…
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12 July
Hobbycraft revenues exceed £100m in full year results
Arts and crafts retailer Hobbycraft has reported a 5.4% increase in total revenue to £177.7m for the year ending 17 February 2019. The increase was driven by “strong” e-commerce growth of 22.7% during the period, and adjusted EBITDA also increased by 27.8% from £9.5m to £12.2m. Five new stores also…
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12 July
Marks and Spencer’s fashion boss departs
Marks and Spencer has announced the departure of Jill McDonald as managing director of clothing and home after two years in the role. The departure follows a challenging year for the one of Britain’s largest retailers, after pre-tax profits fell by 10%, clothing and home sales fell by 3.6% year-on-year,…
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12 July
Vans to move into former Miss Selfridge flagship site
Footwear brand Vans have signed a leased to takeover the site previously occupied by Miss Selfridge. Located in Oxford Street, London, Arcadia will remain the landlords of the site. Miss Selfridge will be moving into the basement of Topshop next door. In June, a CVA was approved for Arcadia Group…
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11 July
DFS shares fall over ‘Brexit uncertainty’ despite sales growth
Furniture retailer DFS saw shares drop by nearly 4% in early trading today (11 June), despite a 17% increase in like-for-like sales for the year ending 30 June 2019. It came after the retailer warned investors that it remains “mindful” of the “volatile” political and economic backdrop, and how it…
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11 July
Amazon to open second Clicks and Mortar store
Amazon is set to open its second Clicks and Mortar store in the UK, at St David’s shopping centre in Cardiff. The store is a collaboration between the online retailer and small business network Enterprise Nation, and will be open for six weeks from 22 July. The Clicks and Mortar…
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10 July
Dunelm remains ‘cautious’ as Q4 revenues jump 15%
Homewares retailer Dunelm has reported a 15.4% increase in total like-for-like (LFL) revenue for the 13-week period ended 29 June 2019. The retailer said the increase reflects “strong” underlying growth in stores and online, the benefit of a “weak comparator” period last year and favourable weather this year. Life-for-like store…
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10 July
Superdry reports annual losses of £85m
Fashion retailer Superdry has announced pre-tax losses of £85.4m for the year to 27 April, compared with the profit of £65.3m reported the previous year. The company cited the “changes to the retail market” and the “uncertainty of Brexit” as some of the contributing factors for the downturn in trade.…
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9 July
M and G withdraws court action against Debenhams
Real estate company M and G Real Estate has withdrawn its court challenge against retailer Debenhams, helping the retailer restructure through company voluntary arrangements (CVA). M and G had originally disagreed with the CVAs, which would allow Debenhams to reduce rent leading to the real estate company filing a court…
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