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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Apr- 2019 -12 April
March sees first YOY non-food footfall rise
March saw the first year-on-year rise in footfall in non-food stores for over two years rising by 1.6% since February, according to Ipsos’ Retail Performance Retail Traffic Index. Average weekly footfall was also up on the previous month, by 4.4% and was up across all parts of the UK. Ipsos…
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11 April
World’s largest Primark opens in Birmingham
Primark has opened the biggest store in its worldwide portfolio, in Birmingham. The new 161,000 square foot store will be spread across five floors and will feature a Disney cafe, two restaurants, a barber shop and a beauty studio. For the first time, the new Primark will feature a homeware…
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11 April
Quiz revenues fall short of expectations
Omni-channel fashion brand Quiz has reported a 12% increase in revenues to £130.9m for the financial year ending 31 March 2019. However, the final result is lower than the Quiz board had previously anticipated, after announcing that its target for FY 2019 would be approximately £133m. This was adjusted to…
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11 April
US deal puts dent in WHSmith profits
WHSmith’s profit before tax dropped by 21% to £65m, following the retailer’s acquisition of American airport store In Motion for £155m late last year. According to its interim results for the six months ended 28 February 2019, excluding In Motion, its travel revenue saw its profit rise 7% to £44m…
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10 April
Dunelm sees Q3 revenues rise 12.5%
Homewares retailer Dunelm has reported a 12.5% rise in like-for-like revenue during Q3 attributed to strong growth in online sales. For the 13 week period ending 30 March 2019 Dunelm’s store revenue over its 169 stores increased by 9.8% year-on-year, however growth was primarily driven by online revenue on Dunelm.com…
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4 April
Mothercare sales down 8.8% in Q4
Embattled retailer Mothercare has reported an 8.8% drop in like-for-like sales for the 12 week period to 30 March 2019. Despite the decline, it represents an improvement on the prior two quarters, and was driven by clearance stock volumes in closure stores which diluted gross margins but cleared all inventory…
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2 April
Schroders backs Findel’s rejection of Sports Direct takeover
Fund manager Schroders has backed Findel’s rejection of Sport’s Directs £140m takeover bid, saying it “significantly undervalues” the future prospects of the company. Schroders said it remains “supportive of Findel” and its management team and the “operational and financial progress” that the home shopping company has made under the leadership…
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1 April
Cambridge named UK’s ‘leading retail location’ for second time
Cambridge has again been named as the UK’s leading retail location according to a list scoring Britain’s best and worst retail centres. The university city topped a list of 1,000 retail centres, compiled by strategic retail property consultancy, Harper Dennis Hobbs (HDH). The HDH 2019 Vitality Index determines the retail…
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Mar- 2019 -27 March
Sports Direct considers £61.4m bid for Debenhams
Sports Direct, owned by Mike Ashley, is considering a £61.4m bid to take control over embattled department store chain Debenhams, despite the retailer rejecting its previous proposals. The sportswear retailer said the possible offer is “pre-conditional” upon Debenhams immediately appointing Ashley as its CEO and terminating the noteholder consent solicitation…
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25 March
Paperchase CVA proposal approved by creditors
The creditors of stationery retailer Paperchase have approved its proposed company voluntary arrangement (CVA). The retailer originally announced the CVA proposal on 4 March, and at the time said some 45 sites would “largely remain unchanged”, whilst turnover rents would be proposed at 70 sites, with a “varying guaranteed minimum…
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