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 -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Real estate company M and G Real Estate has withdrawn its court challenge against retailer Debenhams, helping the retailer restructure through company voluntary arrangements (CVA).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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8 July
Select owed creditors £53m after entering administration
Fashion retailer Select “owed creditors £53.1m” to landlords and the Her Majesty’s Revenue and Customs (HMRC) following the company’s administration in May. The retailer filed for administration in May, after it made a loss of £15.5m on sales of £117m in the 18 months to 2 December, according to accounts…
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5 July
Sloane Street to undergo £40m redevelopment
Cadogan Estates, has announced plans to oversee a £40m redevelopment of Sloane Street, following the recent transformation of Pavilion Road which runs parallel. London Architects John McAslan + Partners, whose recent work includes the transformation of King’s Cross Station, has been appointed to lead the redevelopment. The programme also includes…
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4 July
The Works FY19 revenues jump 13.2%
Stationery retailer The Works has reported a 13.2% increase in revenues in its preliminary results for the 52 weeks ended 28 April 2019. The retailer posted positive like-for-like growth of 3% during the period, driven by growth both in stores and online, and adjusted EBITDA increased by 4.2% to £13.8m.…
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4 July
Superdry appoints former John Lewis and New Look CFOs
Fashion retailer Superdry has appointed Helen Weir and Alastair Miller to its board as non-executive directors, taking the role of senior independent director and chair of the audit committee respectively. Weir was most recently CFO of Marks and Spencer, a role she held from 2015 to 2018. Prior to this…
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2 July
Lendlease to launch retail development at Elephant Park
Project management company Lendlease has announced plans for a retail and restaurant development at Elephant Park in south London. The 16 units total 37,000 sq ft and are in two areas, Ash Avenue and New Kent Road and Chatteris Quarter. Ash Avenue will focus mainly on restaurants, backing onto a…
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1 July
Boots confirms closures of 200 stores
Health and beauty retailer Boots has confirmed it is set to close 200 stores in the UK, after receiving confirmation from its parent company Walgreens Boots Alliance. The store closures will affect underperforming stores, in “walking distance” of other Boots locations and will represent 8% of the retailer’s UK stores…
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