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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May- 2019 -23 May
Arcadia to close 23 stores
Phillip Green’s Arcadia group has announced plans to close 23 stores as part of its restructuring plan, affecting up to 520 employees. The proposal will mean Burton, Dorothy Perkins and Topshop stores will close, in addition to rents being cut at another 194 stores. It added that the remaining 349…
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22 May
Pets at Home revenues soar as retailer increases market share
Pets at Home has announced it has seen revenues soar in its full-year results to March 2019. Total group revenue at the pet retailer rose by 6.9% to £961m, while profit before tax rose by 6.1% year-on-year up to £89.7m. Revenue at the firm’s vet group jumped up by 13.1%…
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20 May
Co-op and Superdrug agree meal deal partnership
The Co-op has struck a “meal deal” with Superdrug which will see it supply the health and beauty chain with an extensive food-to-go range including sandwiches, salads and fruit. The trial will see Co-op become Superdrug’s food-to-go partner and initially supply its award winning own-brand products to seven branches located…
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14 May
Amazon partners with Next for click and collect service
Next and Amazon today announced Next’s participation in Amazon Counter – a new network of pick up points that allows customers to collect their Amazon orders in-store. Pick up from a Counter location at the fashion retailer is available from hundreds of stores across the UK and on millions of…
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13 May
Shop vacancy rate rises to highest level in four years
The national town centre vacancy rate rose to 10.2% empty outlets, according to data from the BRC-Springboard Footfall and Vacancies Monitor. This is an increase on the previous quarter’s 9.9% rise and the highest vacancy rate seen since April 2015. In the four weeks from 31 March to 27 April,…
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10 May
Select officially enters administration
Embattled retailer Select has officially entered administration, placing 1,800 jobs at risk. Business advisory firm Quantuma has been appointed as administrators of Genus UK Ltd, trading as Select. Select, which operates from 169 stores across the UK, was muted to fall into administration earlier this week and has now confirmed…
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9 May
Third of consumers feel ‘unvalued’ by retailers after purchasing
Over a third (34%) of consumers feel retailers don’t care about them after they’ve made a payment, a new report by Valitor has found. The report from the international payment solutions company, found that retailers are “failing customers” when it comes to the after payment experience. This is because shoppers…
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9 May
Superdry issues profit warning as trading ‘continues to be weak’
Superdry has said its “trading performance continues to be weak” as the clothing retailer issued another profit warning in its trading update for the 13-week period to 27 April 2019. Its wholesale and e-commerce revenues performed the worst in Q4 with declines of 9.3% and 3.9% respectively. Year-on-year wholesale revenue…
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8 May
Wee Carpet Shoppe ad goes viral
A homemade advert starring a four-year-old girl promoting her grandad’s carpet store, the Wee Carpet Shoppe in Fife, Scotland, has gone viral online. The video gained almost 35,000 views on Facebook in a few short days, and was created without the shop owner John Tallack’s knowledge. The advert, directed by…
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7 May
New Look reduces debts by £1bn
Fashion retailer New Look has announced it has reduced existing long term debt by £1bn to £350m, as part of its comprehensive financial restructuring. Furthermore, the restructure delivered £150m of new long term capital in the form of new Senior Secured Notes (SSN), which has been used to repay the…
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