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 -25 October
Superdry founder looks to return to board
Superdry founder, Julian Dunkerton, has said that he want to return to the company’s board “in any capacity”. Dunkerton wants to revive the company’s fortunes following financial woes which have seen its shares fall from £20 per share in January, down to £7.29 per share. The founder is still the…
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25 October
ScS to pull concessions from House of Fraser
Furniture and floorings retail chain, ScS, has announced it will cease trading within House of Fraser stores in its trading update for the 12 weeks ending 20 October 2018. The group said due to developments with House of Fraser over the last few months, it believed the partnership was “no…
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24 October
B&M acquires French discount retailer Paminvest SAS
B&M has announced the acquisition of French firm Paminvest SAS, a discount retail group operating 95 stores under the trading name Babou. The deal was made through B&M’s subsidiary, EV Retail Limited, and totalled €91m (£80m) including the debt of the Babou refinanced by B&M. For the year ending 31…
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23 October
New West End Company issues ‘stark’ warning to government over tax-free shopping
The New West End Company (NWEC) has issued a “stark” warning to the government over tax-free shopping in a joint letter to chancellor Philip Hammond, signed by over 300 West End retailers. In the letter, the trade body warned that the UK risked a further loss of international competitiveness post-Brexit…
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22 October
C.Banner considers sale of Hamley’s
C.Banner is said to be considering the sale of Hamley’s a week after it posted a 2016 fall from £1.7m profit to £9.2m loss in 2017. Rumours began after C.Banner received approaches from potential buyers and appointed corporate finance firm Vermillion Partners to advise on a sale according to Sky…
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19 October
Intu considering John Whitaker’s £2.8bn takeover bid
Shopping centre owner Intu has announced that it is considering a £2.8bn takeover bid from John Whittaker. Whittaker currently owns 27% of the company and has formed a consortium via his investment firm Peel Group, US asset manager Brookfield and Saudi Arabia’s Olayan on a possible bid for the remaining…
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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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