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 -10 October
Wilko suffers £65m loss
Homeware retailer Wilko has posted a profit before tax loss of £65m in its latest financial results to the year ending 3 February 2018. The company said during the past year it had invested in excess of £60m in the business to capitalise on future growth. Wilko’s operating profit was…
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9 October
Consumer spending in September dips amid ‘summer hangover’
UK retail sales decreased by 0.2% on a like-for-like compared with September 2017, when it had increased 1.9% from the preceding year. According to new figures from the British Retail Consortium (BRC) and KPMG’s sales monitor, total sales increased by only 0.7% in September, against an increase of 2.3% in…
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9 October
H&M invests £15m stake in Klarna
H&M and Klarna have announced they have entered into a £15m global partnership as the Swedish clothing retailer acquires a less than 1% stake in the fintech company. The clothing retailer said the equity investment demonstrates a “shared commitment and vision to the continual development of smarter retail where optimisation…
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8 October
Quiz issues profit warning leading to 25% share tumble
Clothing retailer Quiz has released a profit warning, five months after announcing a revenue growth of 30%. Shares in Quiz dropped by 25% following the announcement with it claiming its recent performance was “behind our expectations” adding that the company’s performance “declined” during the second half of the financial year.…
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8 October
French Connection considering a potential sale
French Connection has confirmed it is considering the potential sale of the business as it is currently “reviewing all strategic options”. In a statement to the London Stock Exchange on Monday (8 October) the fashion retailer set out its position following reports over the weekend, and also added that there…
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8 October
Footfall continues to fall in September
Footfall continued on its decline in September, according to the Ipsos Retail Performance Weathermap. All regions saw a year-on-year drop in footfall, with Scotland and Northern Ireland recording a 3.3% decline and northern England seeing 5.5% less retail visitors. The Midlands, south west England and Wales and London and the…
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4 October
Ten retailers defying high street blues in 2018
This year will likely go down in history as a turning point for high street retail in the UK, with a slew of firms going under, announcing job losses, store closures, or just going under completely. We have put together a list of those which, despite the blues, are making…
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4 October
3,200 stores ‘disappear’ from high street in four years
The number of physical shops in the UK has fallen by almost 3,200 over the past four years, down 1.2% to 263,070. According to the British Retail Consortium (BRC) the reason for the decline is down to a “transformation” of the industry, driven by changes in shopping habits, new technology,…
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3 October
Toys R’ Us to rise from the dead
Toys R’ Us is rumoured to be revived after an auction for its brand and rights was cancelled with a group of investors which originally ended the toy retailer’s reorganisation in April. According to documents obtained by the Wall Street Journal, the group has plans for “a new, operating Toys…
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2 October
M&S launches checkout free ‘Mobile, Pay, Go’ service
Marks and Spencer has launched a new “checkout free” service called ‘Mobile, Pay, Go’ at six London stores ahead of Christmas, allowing customers to pick up lunch in “under 40 seconds”. The retailer will roll out the service, previously trialled in its Edgware Road and Waterside stores to West Hampstead,…
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