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.
-
Apr- 2019 -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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
22 March
Crime cost retailers £1.9bn last year
The British Retail Consortium’s (BRC) annual Retail Crime Survey has revealed the total cost of crime and crime prevention for retailers was £1.9bn last year. This was up 12% from the previous year (£1.7bn) and was made up of £900m direct cost from retail crime, and £1bn spent in efforts…
Read More » -
20 March
Superdrug launches in-store consultations on breast cancer checks
Superdrug has announced its partnership with charity CoppaFeel! to offer a no touch consultation on how to carry out a breast examination in all 56 of its nurse clinics across the UK. It has become the first high street retailer to offer the check which has an aim to educate…
Read More » -
15 March
Jobs and stores could go as Green considers Arcadia restructure
Sir Philip Green is preparing to unveil a company voluntary agreement (CVA) for Arcadia in a matter of weeks, Sky News has reported. The proposal could result in a number of job losses and store closures across its high street brands which include Topshop, Miss Selfridge, Dorothy Perkins and Warehouse.…
Read More »
