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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Sep- 2018 -24 September
B&M fined record £480,000 for selling knives to children
Discount retailer B&M Bargains has been fined a record amount of £480,000 after two of its stores were found selling knives to children. The company was found to be selling the knives during an undercover investigation conducted by police and trading standard officers in east London. The retailer was said…
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24 September
60% of British people believe the high street will ‘eventually disappear’
New research has found that 60% of British people believe that the high street will “eventually disappear”. The research by Close Brothers Asset Finance also found that 85% of people feel the high street is in decline, with 70% adding that councils and the government are not giving “enough support”.…
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21 September
Dominic Chappell loses appeal against BHS conviction
Dominic Chappell, the former director and majority shareholder of the company that bought BHS, has lost his appeal against his conviction and sentence for failing to hand over information to The Pensions Regulator (TPR). In January, Chappell was convicted at Brighton Magistrates’ Court by District Judge William Ashworth of three…
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21 September
Strong retail sales growth in August helps strengthen British pound
Retail sales growth of 0.3% across all sectors in August, excluding food, clothing and petrol, saw the value of the British pound increase 0.7% against the dollar at $1.32. According to figures from the Office of National Statistics (ONS), the lower month-on-month growth rate in the quantity bought in food…
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21 September
Moss Bros’ revenue drops as hot weather and World Cup ‘distraction’ affects sales
Menswear retailer Moss Bros has reported a drop in revenue and sales in its half year financial results, covering the period from 28 January 2018 to 28 July 2018. The retailer’s total group revenue, excluding VAT, was down by 3.3% and fell to to £64.5m compared with the previous year.…
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20 September
Cath Kidston clarifies store review reports
Cath Kidston has clarified reports that it is to undergo a formal portfolio review and instead said that it is reviewing individual branches as leases come up for renewal. The fashion retailer, which has 65 stores across the UK, stressed it is looking to move stores where leases are coming…
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20 September
Poundland to open in 20 former Poundworld locations
Poundland is finalising plans to open stores in up to 20 large former Poundworld locations and has offered all former Poundworld staff to get in touch for “guaranteed interviews”. Initial openings in the first phase include Edinburgh (Cameron Toll), Killingworth (Tyne & Wear) and East Kilbride and Ayr in Scotland,…
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19 September
Orla Kiely ceases trading as parent company enters administration
Eponymous handbag and homeware retailer Orla Kiely has ceased trading as of Monday 17 September 2018. Its parent company Kiely Rowan has entered into administration and the group’s retail stores in London and Kildare and its online business have now been closed. However its home and design licensing business will…
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18 September
Former BHS owner warned not to ‘rewrite history’ in court
Dominic Chappell, the former owner of collapsed retailer BHS, has been warned against making a “cynical attempt to rewrite history” in an appeal hearing against his conviction earlier this year. In January, Chappell was found guilty of three charges of neglecting or refusing to provide information and documents, without a…
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18 September
H&M posts 9% sales increase
H&M’s group sales have increased by 9% according to the fashion chain’s Q3 financial update. Performance exceeded analysts’ expectations, resulting in the company’s highest share increase in 17 years. The firm attributed to the results to investment in its online offerings and logistics systems. Investors rallied to what seemed to…
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