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 -18 October
Games Workshop warns of ‘coming uncertainties’ leading to 8% share slip
Games Workshop has issued a warning of “coming uncertainties” in the rest of the 2018/19 financial year, shares in the hobby retailer fell by 8% following the news. Despite the warning, the retailer said trading between 7 September and 7 October had “continued well” according to predictions with sales and…
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18 October
Retail sector ‘to face £186.45m business rates increase next April’
Retail firms will see business rates increase by £186.45 next April for the year 2019/20, according to real estate advisor Altus Group. September’s Consumer Prices Index (CPI) measure of inflation, announced on 17 October at 2.4% will determine business rate rises in England for the next year. It is its…
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16 October
Claire’s rubbishes ‘false’ CVA rumours
Jewellery and accessories chain Claire’s has denied claims that it is considering the closure of some of its UK stores. A report by the Press Association (PA) suggested the group could be considering a company voluntary arrangement (CVA), which would include some store closures and a reduction on rents for…
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16 October
Footasylum slips to half-year loss
Footwear retailer Footasylum has reported a £4m loss in its half-year financial results for the 26 weeks year ending 25 August 2018. Despite the loss, the company’s revenue was up 19% to £98.6m from £83.2m in the previous year. It saw growth in sales all across the board; store revenue…
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12 October
Hamleys reports £12m sales loss amid ‘most challenging year in retail history’
Toy retailer Hamleys has reported a sales loss of £12m for the full year to 31 December 2017. According to the the latest figures revenues dropped 2.5% to £66.3m and net assets also decreased by £11.7m, as well as an EBITDA loss of £4.7m. The group said 2017 was one…
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12 October
Boots sales fall 3% due to ‘decline in UK pharmacy funding’
Boots has announced a 3.4% fall in sales between June and August 2018 comparison with the same period last year. The pharmacy chain blamed “lower prescription volume and a decline in UK pharmacy funding” for the sales drop, in its latest financial report. Sales in its pharmacies fell by 1.2%…
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12 October
Retailers could be forced to publish ethnicity pay gaps
Prime minister Theresa May has announced a series of measures to tackle ethnic disparities in the workplace, which includes the mandatory publishing of ethnicity pay gaps. The government has invited businesses to share its views on this mandatory approach to ethnicity pay reporting, since according to the group the number…
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11 October
WH Smith to close six stores as result of ‘business review’
WH Smith has announced it will close six stores as it looks to “restructure” its high street business, including operational activities and winding down “non-core trial initiatives” including Cardmarket and WH Smith. Despite restructuring plans WH Smith said its high street arm had delivered a “good performance despite the well…
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11 October
Levi’s posts double-digit Q3 sales increase
Levi Strauss and Co. has reported a 10% increase in retail sales during the twelve weeks to 26 August, as the fashion retailer delivered its fourth consecutive quarter of revenue growth. Levi’s net revenue for the three-month period was $1.39bn (£1.05bn) up from $1.26bn (£955m) the previous year. The growth…
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10 October
Beauty brand Deciem shutters all stores following bizarre Instagram post
Beauty brand Deciem, has closed all its stores until 2019 following an Instagram post by its founder who alleged “almost everyone at Deciem has been involved in a major criminal activity”. The Toronto-based company’s founder Brandon Truaxe made the claim in an online post on the brand’s official Instagram account.…
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