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 -16 November
Retail sales slow in October after summer of strong growth
The quantity of items bought in retail sales in October fell by 0.5% when compared with September 2018, according to the latest figures from the ONS. In the three months to October 2018 the quantity of items bought increased by 0.4% when compared with the previous three months, but there…
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16 November
Superdrug warned by ASA over ‘free gifts’
Superdrug has been warned by the Advertising Standards Authority (ASA) over a ‘free gift’ promotion which offered a free hand towel when customers bought certain products. One complainant said they had bought the “three black and Asian hair products” required to be eligible for the free ‘ORS Magic Hair Towel’,…
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15 November
Beyonce cuts ties with Topshop following Philip Green allegations
Beyonce has bought Philip Green out of the athleisure clothing line Ivy Park which was co-founded by Topshop, meaning the brand will no longer be sold in the store. The announcement of the collaboration was first announced in 2014 and in 2016, the range was launched in Topshop stores worldwide.…
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14 November
London’s New Bond Street named ‘most expensive’ European high street
London’s New Bond Street has been named as the most expensive European shopping location for rental value and the third most globally. The ‘Main Streets Across the World’ report by global real estate services firm Cushman & Wakefield tracks 446 of the top retail streets around the globe, ranking the…
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14 November
Blue Inc ‘close to administration’
Blue Inc is reportedly looking for a buyer to help the men’s fashion chain avoid falling into administration. The chain has appointed insolvency practitioners Begbies Traynor to sell the business and according to Sky News, sources said the retailer needed an immediate injection of capital in order for it to…
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13 November
House of Fraser could see ‘significant’ number of further store closures
House of Fraser is set for a “significant” number of further store closures after landlords reportedly refused to agree to owner Mike Ashley’s new leasing terms. According to the Sunday Times, the Sports Direct boss met with agents at retail estate agency CBRE last week to discuss the stores to…
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13 November
B&M posts double-digit sales and profit growth
B&M has announced a double-digit increase in both group revenues and profit before tax in the 26 week period ending 29 September. The discount retailer saw group revenue jump 16% to £1.56bn during the period as profit before tax increased by 32.5% up to £115m compared with the £86.6m recorded…
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13 November
EU rules could ‘thwart’ Hammond’s business rates promise
Hammond’s plan to help high streets through a near £1bn, two year business rates cut, is set to be thwarted by European Union state aid rules, real estate agents Altus Group have claimed. The chancellor will slash business rates next April by discounting bills by a third for those retail…
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12 November
Forecasts predict £99bn retail sales increase during ‘golden quarter’
Total UK retail sales in Q4 are expected to rise by 2% to £98.8bn for the three months to the end of 2018, known as the ‘golden quarter’. According to retail data and insights firm GlobalData, 2018 has been a year of “retail failures, profit warnings and store closures so…
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12 November
All Saints sees profits fall by over half
Clothing retailer All Saints has seen its profits fall by over half to £10.6m in the year to February 2018. Sales rose by 8% to £327m during the same period, falling short of the £500m target owners Lion Capital had set. The investment firm bought a majority stake in All…
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