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 -13 November
B&M posts double-digit sales and profit growth
B&M has announced a double-digit increase in both group revenues and profit before tax in the 26 week period ending 29 September. The discount retailer saw group revenue jump 16% to £1.56bn during the period as profit before tax increased by 32.5% up to £115m compared with the £86.6m recorded…
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13 November
EU rules could ‘thwart’ Hammond’s business rates promise
Hammond’s plan to help high streets through a near £1bn, two year business rates cut, is set to be thwarted by European Union state aid rules, real estate agents Altus Group have claimed. The chancellor will slash business rates next April by discounting bills by a third for those retail…
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12 November
Forecasts predict £99bn retail sales increase during ‘golden quarter’
Total UK retail sales in Q4 are expected to rise by 2% to £98.8bn for the three months to the end of 2018, known as the ‘golden quarter’. According to retail data and insights firm GlobalData, 2018 has been a year of “retail failures, profit warnings and store closures so…
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12 November
All Saints sees profits fall by over half
Clothing retailer All Saints has seen its profits fall by over half to £10.6m in the year to February 2018. Sales rose by 8% to £327m during the same period, falling short of the £500m target owners Lion Capital had set. The investment firm bought a majority stake in All…
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12 November
Footfall drops for 11th consecutive month
Footfall in October fell by 2% on the previous year, an identical fall to that recorded in October 2017 and a deeper decline than September 2018 when footfall fell by 1.7%. According to the Springboard retail footfall figures, October also marked the 11th month of consecutive footfall decline. However, analysts…
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9 November
Half of British small retailers ‘love’ their job
Half of small UK retailers said that they “love” their job according to new research, the highest out of nine other sectors polled and four times higher than the national average of 12%. The research by Yougov accessed a sample of over 1,000 senior managers in the retail sector, working…
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9 November
October footfall ‘wobble’ sparks fresh concern for UK high street
October saw a 7.4% drop in UK store visits, the biggest year-on-year drop since July, while average weekly footfall was down 2.9% compared with September. According to Ipsos Retail Performance’s latest Retail Traffic Index (RTI) the areas with the highest decline in store visits were south west England and Wales,…
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9 November
Gap between retail closures and openings continue to widen, says PwC
A combination of growth in online shopping, shift to in-home leisure, heightened restructuring activity and ongoing digitisation of services has seen the half-year net reduction in stores on Britain’s high streets reach record levels, according to PwC. According to research compiled for PwC by the Local Data Company (LDC) a…
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6 November
Pandora reduces FY expectations amid ‘unsatisfactory Q3’
Pandora has reduced its full-year expectations after experiencing an “unsatisfactory” third quarter in 2018. In Q3 group revenue decreased 3% in local currency due to “timing of shipments, change of inventory levels in the wholesale channel and negative total like-for-like”. Revenue from its estore increased 52% in local currency, up…
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6 November
Marks and Spencer half-year profits expected to drop
M&S is expected to report a double-digit drop in its half-year profits next week, according to predictions by City analysts. The retailer is set to post a fall in underlying pre-tax profits by 14% to £188m. Its pre-tax profits for the first half of the year are set to be…
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