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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Jan- 2019 -9 January
HMV ‘denied’ £3.35m tax lifeline before administration
Beleaguered music and film retailer, HMV, who officially fell into administration during the festive period, was denied a £3.35m government tax cut before it entered administration new figures have revealed. HMV blamed a “tsunami” of retail challenges, including business rate levels, saying it paid £15m on sales of £277m meaning…
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8 January
Footasylum issues profit warning after ‘challenging’ Christmas trading conditions
Footwear retailer, Footasylum has issued a profit warning following “challenging trading conditions” during the festive period. Footasylum said it would cut costs after it changed expectations for gross margin in the 2019 financial year, despite revenue still expected to remain as forecast. The retailer blamed “market backdrop, promotional activity and…
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8 January
Joules continues to defy retail gloom over festive period
Joules has continued to defy the retail gloom with an 11.7% sales increase over the festive period. During the seven weeks ending 6 January the clothing and lifestyle retailer said that online sales attributed to almost half of all sales. Joules said the performance was driven through its own digital…
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7 January
Dunelm posts 9% revenue surge over festive period
Homeware retailer Dunelm has posted a 9% increase in total like-for-like revenues during the 13-week period ending 29 December, including a 5.7% increase in stores. Dunelm also reported a 37.9% increase in online sales although the company added that it remains “cautious” over its outlook given the “ongoing uncertainty in…
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4 January
McColl’s appoints Robbie Bell as CFO
Convenience retailer McColl’s has appointed Robbie Bell to its board as chief financial officer. Bell is moving on from his current position as CFO of Welcome Break Limited following its takeover by Applegreen plc, will take up his appointment on 17 January 2019. In 2017, Bell was appointed CFO of…
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3 January
Home Bargains becomes latest retailer to announce a ‘quiet hour’
Home Bargains has become the latest retailer to announce a ‘quiet hour’ in order to create a calmer environment for customers with autism to shop in. The initiative is being carried out in partnership with the National Autistic Society, and will see all music switched off in its stores each…
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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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