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 -23 November
Rent-to-own market price cap proposed by FCA
The Financial Conduct Authority (FCA) are consulting on introducing a price cap in the rent-to-own (RTO) market to address harm to vulnerable consumers from high prices. The proposed price cap on RTO products, which are rented by consumers and paid off gradually, would come into effect on 1 April 2019…
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23 November
Wyevale Garden Centres sells five sites
Wyevale Garden Centres has sold five more of its stores as it continues plans to cut back its retail portfolio as part of a turnaround plan. A Wyevale spokesperson told Retail Sector: “In accordance with TUPE regulations colleagues are now being consulted with on the transfer of their employment to…
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22 November
Mothercare revenues down 13% in half-year results
Mothercare’s half year results for the 28 week period to 6 October 2018 saw revenues drop by 13% to £295m. Worldwide sales decreased by 9.8% to £566m, compared with £627m during the period last year, and group adjusted loss before taxation was reported to be £6.2m. In July, the British…
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21 November
Crickhowell High Street crowned ‘UK’s best’ in Great British High Street Awards
Crickhowell High Street has been crowned the overall winner of the government-run Great British High Street Awards 2018. The Welsh high street was commended for its community-led initiatives and strong network of independent businesses and was awarded £15,000 for the local community. The result reflects strong public support on social…
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21 November
87% of Black Friday prices ‘aren’t the cheapest of the year’, says Which?
A year-long investigation by consumers association Which? has found that Black Friday prices “aren’t the cheapest of the year”, and said shoppers could get a better bargain if they’re willing to wait. The group tracked product prices for 12 months, and found that 87% were the same price or cheaper…
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21 November
UK shoppers may spend £234 on average this Black Friday, says PwC
UK consumers are preparing to spend an average of £234 at the tills and online during this year’s Black Friday and Cyber Monday shopping periods, PwC’s latest survey reveals. The £234 average projected spend for 2018 is exactly the same as 2017, suggesting demand has flattened out. Half of UK…
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20 November
UK sales predicted to grow 4% in December
New research predicts that December’s retail sales will reach £47.7bn, growing 4% when compared with last year when sales hit £45.8bn. According to global market research firm Mintel, sales through non-food retailers are expected to reach £23.5bn (including £4bn from online sales generated by physical stores), while food retailers could…
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19 November
Evans Cycles to close stores despite ‘almost all profitable’
Evans Cycles is set for store closures despite a recent administrators proposals document by accountancy firm PricewaterhouseCoopers (PwC) claiming “almost all the stores were profitable”. In the document, PwC found that the company’s financial woes mainly stemmed from being “burdened” by costs at its head office. Last month it was…
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19 November
Black Friday footfall expected to drop as shoppers go online
Retail intelligence experts Springboard have forecast that Black Friday and the following weekend will do “very little to help the beleaguered high street”. Footfall is anticipated to drop by 3.7% year-on-year compared with last year and down 2.7% over the weekend as a whole. This follows a decline in footfall…
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19 November
London’s West End remains ‘best-performing’ European shopping destination
London’s West End has retained its position as the best-performing retail centre in Europe, according to figures from independent retail real estate agency, Harper Dennis Hobbs (HDH). With a market share worth almost €10.4bn, (£9.2bn) HDH said the West End is “continuing to thrive”, even with competition from new retail…
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