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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Jan- 2025 -30 January
BRC: Retail crime ‘out of control’ as theft losses hit record £2.2bn
The BRC has said that retail crime is “out of control” after its Annual Crime Survey figures revealed that losses from customer theft reached a record £2.2bn in 2023/24. The association said the figures come as more incidents have been linked to organised crime, with gangs “systematically” targeting stores. This…
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29 January
Lloyds Banking Group to close 136 branches in further blow to UK high street
Lloyds Banking Group is reportedly set to close another 136 of its branches as it aims to adapt to customers’ shifting preferences for online banking, in what is another blow to the UK high street, according to the Financial Times. Reports suggest the group will close 61 Lloyds branches, 61…
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28 January
Pets at Home maintains guidance despite stagnant Q3 revenues
Pets at Home has maintained its full-year profit guidance despite the fact that its total group revenue fell 0.2% to £361.6m for the 12 weeks ended 2 January 2025. Its persistence comes as the company saw its consumer revenue increase 2.3% to £468m during the period. Pets at Home stated…
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28 January
HMV owner eyes bid for WH Smith’s high street arm
The owner of HMV is reportedly considering snapping up WH Smith’s high street arm, after the retailer this week confirmed it was exploring a potential sale of its 500 high street stores. According to The Sun, it is understood that HMV owner Doug Putman is now in talks with advisers over…
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27 January
Bestway Retail announces new partnership with operator James Retail
Bestway Retail has announced a new long-term partnership with James Retail, the 40-strong nationwide Convenience and Travel interchange operator, owned by Jonathan James. Already working with the leading privately-owned neighbourhood and travel hub operator, the new agreement accelerates Bestway Retail’s strategic growth plans and sees James Retail convert their estate…
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27 January
The Original Factory Shop nears sale to Baaj Capital
The Original Factory Shop (TOFS) is close to being sold after more than 17 years of ownership of private equity firm Duke Street, Sky News has revealed. Baaj Capital, a family office behind investments in fashion retailer In The Style as well as party supplies group Amscan International, is allegedly…
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27 January
Lakeland owner brings chain to market ahead of tax rises
The family behind kitchenware retailer, Lakeland, has reportedly recruited advisers to explore a sale after more than 60 years as growing cost pressures loom, according to Sky News. According to accounts filed at Companies House for 2023, that year faced “the most challenging economic conditions for several decades” with high…
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27 January
Hotel Chocolat to open 25 stores this year amid record Xmas sales
Hotel Chocolat posted record UK Christmas sales for the 4 weeks to 29 December and has revealed it is set to open 25 new stores in the UK this year. The premium chocolatier saw sales rise 10.4% year-on-year, with 21 and 23 December being the busiest shopping days online and…
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27 January
WH Smith explores sale of high street arm
WH Smith has confirmed that it is exploring the potential sale of its high street stores as it looks to restructure the business, which has seen its Travel business continue to outperform high street outlets in recent years.Over the weekend, Sky News reported that the retailer has been in negotiations…
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24 January
The Works maintains guidance as HY revenues rise 1.3% to £124m
The Works is maintaining its full-year guidance as total revenues rose 1.3% to £124.2m in the first half of FY25, despite like-for-like sales declining by 0.8% during the period. It comes as The Works managed to narrow its pre-IFRS16 adjusted EBITDA loss to £2.8m from a high of £8.5m a…
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