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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Jun- 2019 -6 June
‘Huge’ spike in retail job vacancies, says CV-library
The amount of jobs on offer in the retail sector jumped by 56.9% in May. That’s according to the latest job market data from job board CV-Library, which compared findings from May 2019, with the same period last year. According to the firm, “major” retail players such as M&S and…
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5 June
Mike Ashley makes £51.9m offer for Game after increasing stake
Mike Ashley’s Sports Direct has made a £51.9m offer for the gaming retailer Game Digital after it increasing its stake from 20% to 38.5%. Sports Direct acquired the shares from Marlborough UK Micro-Cap Growth Fund passing the 30% threshold requiring Ashley to make an offer for the shares he does…
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5 June
Philip Green reaches agreement with pensions regulator
Arcadia owner Philip Green has reached an agreement with The Pensions Regulator in order to aid the restructure of the company. The company has agreed to provide security for the schemes to the value of £210m which includes an additional £25m agreed with regulator. Green’s wife and Arcadia shareholder Christina…
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5 June
Card Factory sees Q1 sales rise 6%
Card Factory has reported a 6.4% rise in total group sales during the first quarter of the year thanks to what it has called a “positive start to the year” despite “challenging consumer sentiment and negative footfall on the high street”. During the first quarter ending 30 April 2019 Card…
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4 June
Retail sales in May see ‘biggest decline on record’
Sales decreased by 2.7% in May on a total basis, excluding Easter distortions, making it the “worst decline” since records began in January 1995, according to the latest BRC-KPMG sales monitor. However, the BRC said this was against an increase of 4.1% in May 2018, itself a four year record.…
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3 June
Amazon launches ‘Clicks and Mortar’ initiative in UK
Amazon, along with business support firm Enterprise Nation, has launched ‘Clicks and Mortar’, an initiative which aims to help small businesses grow, both in-store and online. According to the online retail giant, the scheme will enable more than 100 small online businesses to sell on the high street for the…
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3 June
Philip Green charged with assault in the US
Arcadia owner Philip Green has been charged with four counts of misdemeanour assault in the US. The alleged incidents, which Green strenuously denies, are said to have occurred at the Canyon Ranch resort in Tucson, in 2016 and 2018. Each count carries a potential sentence of up to 30 days…
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May- 2019 -29 May
Boots could close up to 200 stores
Boots owner Walgreen Boots Alliance (WBA) have plans to close up to 200 underperforming stores, according to Sky News. The health and beauty retailer which employs more than around 56,000 people, saw profits fall by more than 18% last year. The potential closures would see just under 10% of Boots’…
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29 May
WHSmith ranked worst retailer in Which? Survey
WHSmith has finished bottom of Which?’s annual UK high street shops survey rankings of more than 100 shops, while specialist retailers came out on top. The annual survey of more than 7,700 Which? members looked at the bricks-and-mortar shops offering the best in-store experiences. WHSmith finished with a customer score…
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24 May
Mothercare swings to £87.3m loss in 2018
Mothercare has reported losses before tax of £87.3m for the year ending 30 March 2019. UK like-for-like sales declined by 8.9% compared with the prior year, which the retailer said was “exacerbated” in the first half by reduced consumer confidence in the brand following the group’s refinancing, together with “wider…
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