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 -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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12 December
Superdry mulls store closures as profits drop 49%
Fashion retailer and brand Superdry has issued a profit warning after pre tax profits fell 49% to £12.9m in the 26 weeks to 27 October 2018. Group revenue was up 3.1% to £414.6m in FH19 compared with £402m in the first half of 2018. With regards to its outlook the…
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11 December
Carpetright swings to £11.7m loss in H1 results
Embattled retailer Carpetright has reported losses before tax of £11.7m for 26 weeks ending 27 October 2018, compared with the £600,000 loss recorded during the same period last year. Group revenue decreased by 15.7% to £191.1m, and underlying EBITDA declined by £1.7m, compared with the profit of £8.6m recorded during…
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11 December
Major retailers’ e-receipts ‘may break data protection rules’
New research has found that major retailers “may break data protection rules” for sending promotional marketing to shoppers who had asked for no promotional emails. The research by Which?, saw mystery shoppers sent to 11 retailers: Topshop, Clarks, Gap, New Look, Dorothy Perkins, Arcadia Group (Miss Selfridge, Outfit, Burton), Schuh,…
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11 December
Poundstretcher posts profit decline
Discount retailer Poundstretcher overall profits for the financial year ending 31 March 2018 fell to £1.7m compared with the previous year’s figure of £2.1m. Its profit before tax dropped from £2.7m to £2.1m over the same period. The company’s turnover dipped to £387.4m compared with the previous year’s figure of…
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