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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Nov- 2018 -20 November
UK sales predicted to grow 4% in December
New research predicts that December’s retail sales will reach £47.7bn, growing 4% when compared with last year when sales hit £45.8bn. According to global market research firm Mintel, sales through non-food retailers are expected to reach £23.5bn (including £4bn from online sales generated by physical stores), while food retailers could…
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19 November
Evans Cycles to close stores despite ‘almost all profitable’
Evans Cycles is set for store closures despite a recent administrators proposals document by accountancy firm PricewaterhouseCoopers (PwC) claiming “almost all the stores were profitable”. In the document, PwC found that the company’s financial woes mainly stemmed from being “burdened” by costs at its head office. Last month it was…
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19 November
Black Friday footfall expected to drop as shoppers go online
Retail intelligence experts Springboard have forecast that Black Friday and the following weekend will do “very little to help the beleaguered high street”. Footfall is anticipated to drop by 3.7% year-on-year compared with last year and down 2.7% over the weekend as a whole. This follows a decline in footfall…
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19 November
London’s West End remains ‘best-performing’ European shopping destination
London’s West End has retained its position as the best-performing retail centre in Europe, according to figures from independent retail real estate agency, Harper Dennis Hobbs (HDH). With a market share worth almost €10.4bn, (£9.2bn) HDH said the West End is “continuing to thrive”, even with competition from new retail…
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16 November
Retail sales slow in October after summer of strong growth
The quantity of items bought in retail sales in October fell by 0.5% when compared with September 2018, according to the latest figures from the ONS. In the three months to October 2018 the quantity of items bought increased by 0.4% when compared with the previous three months, but there…
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16 November
Superdrug warned by ASA over ‘free gifts’
Superdrug has been warned by the Advertising Standards Authority (ASA) over a ‘free gift’ promotion which offered a free hand towel when customers bought certain products. One complainant said they had bought the “three black and Asian hair products” required to be eligible for the free ‘ORS Magic Hair Towel’,…
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15 November
Beyonce cuts ties with Topshop following Philip Green allegations
Beyonce has bought Philip Green out of the athleisure clothing line Ivy Park which was co-founded by Topshop, meaning the brand will no longer be sold in the store. The announcement of the collaboration was first announced in 2014 and in 2016, the range was launched in Topshop stores worldwide.…
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14 November
London’s New Bond Street named ‘most expensive’ European high street
London’s New Bond Street has been named as the most expensive European shopping location for rental value and the third most globally. The ‘Main Streets Across the World’ report by global real estate services firm Cushman & Wakefield tracks 446 of the top retail streets around the globe, ranking the…
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14 November
Blue Inc ‘close to administration’
Blue Inc is reportedly looking for a buyer to help the men’s fashion chain avoid falling into administration. The chain has appointed insolvency practitioners Begbies Traynor to sell the business and according to Sky News, sources said the retailer needed an immediate injection of capital in order for it to…
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13 November
House of Fraser could see ‘significant’ number of further store closures
House of Fraser is set for a “significant” number of further store closures after landlords reportedly refused to agree to owner Mike Ashley’s new leasing terms. According to the Sunday Times, the Sports Direct boss met with agents at retail estate agency CBRE last week to discuss the stores to…
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