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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Oct- 2018 -29 October
HMV tops Amazon on physical music sales
HMV has overtaken Amazon for physical music sales, the entertainment retailer increased its market share to 28% during the 12 weeks to 23 September. According to research published by Kantar Worldpanel, the release of the 100th edition of Now That’s What I Call Music which sold almost double its predecessor,…
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29 October
Chancellor to propose £900m rates relief plan for smaller retailers
Chancellor Philip Hammond is expected to announce a rates relief for retail SMEs and relax town planning rules on the high street. The budget announcement will be made today (29 October) and Hammond is expected to cut business rates by 33% for 496,000 small retailers, saving £900m. It is also…
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29 October
Oxford Street Strategy approved for public consultation
Westminster City Council’s Cabinet has has approved a new draft Oxford Street District Strategy to be taken forward for public consultation in November. The Council’s fresh Place Strategy and Delivery Plan has identified 96 projects across 87 streets and spaces in nine zones, including proposals for major improvements at Oxford…
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26 October
Schuh profits fall 9.6% following ‘lack-lustre festive sales period’
Footwear retailer Schuh has announced a pre-tax profit fall of 9.6% down to £15m for the previous financial year. The retailer blamed a “lacklustre” festive period on an “overtly promotional retail market” in the footwear industry. Despite the profit fall the retailer announced a revenue rise in the year to…
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25 October
Superdry founder looks to return to board
Superdry founder, Julian Dunkerton, has said that he want to return to the company’s board “in any capacity”. Dunkerton wants to revive the company’s fortunes following financial woes which have seen its shares fall from £20 per share in January, down to £7.29 per share. The founder is still the…
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25 October
ScS to pull concessions from House of Fraser
Furniture and floorings retail chain, ScS, has announced it will cease trading within House of Fraser stores in its trading update for the 12 weeks ending 20 October 2018. The group said due to developments with House of Fraser over the last few months, it believed the partnership was “no…
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24 October
B&M acquires French discount retailer Paminvest SAS
B&M has announced the acquisition of French firm Paminvest SAS, a discount retail group operating 95 stores under the trading name Babou. The deal was made through B&M’s subsidiary, EV Retail Limited, and totalled €91m (£80m) including the debt of the Babou refinanced by B&M. For the year ending 31…
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23 October
New West End Company issues ‘stark’ warning to government over tax-free shopping
The New West End Company (NWEC) has issued a “stark” warning to the government over tax-free shopping in a joint letter to chancellor Philip Hammond, signed by over 300 West End retailers. In the letter, the trade body warned that the UK risked a further loss of international competitiveness post-Brexit…
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22 October
C.Banner considers sale of Hamley’s
C.Banner is said to be considering the sale of Hamley’s a week after it posted a 2016 fall from £1.7m profit to £9.2m loss in 2017. Rumours began after C.Banner received approaches from potential buyers and appointed corporate finance firm Vermillion Partners to advise on a sale according to Sky…
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19 October
Intu considering John Whitaker’s £2.8bn takeover bid
Shopping centre owner Intu has announced that it is considering a £2.8bn takeover bid from John Whittaker. Whittaker currently owns 27% of the company and has formed a consortium via his investment firm Peel Group, US asset manager Brookfield and Saudi Arabia’s Olayan on a possible bid for the remaining…
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