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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Dec- 2018 -21 December
December consumer confidence ends 2018 on five-year low
GfK’s long-running Consumer Confidence Index decreased by one point in December 2018 to -14. The measure for the general economic situation of the country during the last 12 months also dropped by two points to -31 this month, the same level as December 2017, and expectations for the next 12…
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21 December
London’s West End to receive £186m pre-Christmas boost
Shoppers visiting London’s West End are expected to spend £186m in the final three days before Christmas, according to New West End Company, who represent over 600 retailers, hoteliers and property owners in the region. During these final three days more discounts and promotions will be on offer, including up…
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21 December
Boots owner’s earnings dented by ‘challenging market’ in the UK
Boots owner, Walgreens Boots Alliance, has said it has seen a decline in profit and sales due to a “challenging market” in the UK. The group said its UK pharmacy sales had fallen by 3.5% in the three months to the end of November, it also saw retail sales drop…
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20 December
MPs launch inquiry into business rates
The Treasury select committee has launched an inquiry into business rates as part of the Housing, Communities and Local Government committee’s wider inquiry into the high street. Chair of the Treasury select committee, Nicky Morgan said the two departments were expected to publish the terms of reference in the new…
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19 December
Footfall drops in lead-up to Christmas trading period
Footfall dropped by 0.1% during the second week December, according to the latest figures from Springboard. However, the drop appears marginal compared with the decline in footfall in the same week last year when snow and ice swept the UK on Sunday shutting roads and transport hubs, creating difficulties until…
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18 December
‘Record levels’ of discounting expected in Christmas lead up
UK consumers are benefiting from “record levels” of pre-Christmas discounting in 2018, according to analysis of more than 800,000 products by Deloitte. Deloitte found that retail discounts currently average 43.6% and by Christmas Eve that could rise to 48%, a new record. According to the accounting firm, the record levels…
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18 December
Brits to spend £1.65bn on last minute Christmas purchases
Some 14.9 million shoppers are expected to spend £1.65bn on last minute Christmas purchases, new research by discount code website VoucherCodes and the Centre of Retail Research (CRR) has revealed – equating to £2.38m per minute. Falling on 22 December, ‘Super Saturday’ is expected to see 10.1 million people descend…
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17 December
Dominic Chappell fined £124k for breaking pensions law
Former BHS owner Dominic Chappell has been fined £124,000 by the Hove Crown Court for breaking pensions law. According to Sky News Chappell was found guilty of withholding documents on the company’s pension scheme from the The Pensions Regulator (TPR) after it went into administration, and was re-sentenced on Friday…
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13 December
Russell and Bromley sees 55% profit plunge
Footwear retailer Russell and Bromley has announced a 55% fall in profits in the year to 31 December 2017. The fall represents the company’s third consecutive year of falling profits after it also announced that turnover dipped by 6% to £100.6m across the same period. The retailer called the challenges…
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13 December
HoF acquisition dents Sports Direct profits
Sports Direct has reported a 27% fall in profits for the half-year period ending 28 October as it counts the cost of its acquisition of embattled department store chain House of Fraser. During the period, the company that also owns USC, Flannels, and Evans Cycles reported underlying profit before tax…
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