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 -3 September
Footasylum shares drop by 50% as company warns of losses
Footasylum has this morning issued a profit warning that said it expects to report lower than expected revenue and a loss in EBITDA. Shares in the company dropped by 50% this morning (3 September) following the warning. The footwear retailer blamed “weak consumer sentiment on the high street” for the…
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Aug- 2018 -31 August
UK consumer confidence jumps three points in August to -7
The GfK’s long-running consumer confidence index showed an increased of three points to -7 in August 2018. The index which measures changes in personal finances during the last 12 months has also increased by three points this month to +4, two points higher compared with the same period time last…
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31 August
Coca-Cola to acquire Costa Coffee from Whitbread for £3.9bn
Coca-Cola is to buy the coffee chain Costa from Whitbread in a £3.9bn deal. Whitbread, which acquired the brand in 1995 for £19m when it had only 39 outlets, had intended to spin off the chain as a separate business but the transaction was “unanimously agreed” by the Whitbread board…
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30 August
Hot September could cost retailers £320m in sales
The British Retail Consortium (BRC) has said a hot September could cost retailers £320m in sales, with non-food retailers losing £80m per week. Based on Met Office figures, the new BRC research found a “clear relationship” between weather and retail sales. The report says that weather influences sales most between…
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30 August
Government to consult on the ban of energy drink sales to children
The government is seeking views from the public on ending the sale of energy drinks to children and young people in England, the prime minister has announced. The consultation proposes that a ban would apply to drinks that contain more than 150mg of caffeine per litre and prevent all retailers…
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30 August
WHSmith reveals strong Q4 performance for travel branch
High street newsagent WHSmith has reported strong sales across its travel business branch in its Q4 results. The group said its new store opening programme both in the UK and internationally is “in line with [expected] plans”, and has already opened eight stores in Madrid Terminal 4 in mid August…
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29 August
Bailiffs visited more than 200 firms daily over unpaid business rates
In the first year after the new business rates revaluation came into effect, councils sent bailiffs to more than 200 commercial properties everyday for unpaid rates. An investigation by real estate advisor Altus Group revealed that during 2017/18, over 81,000 business premises liable for rates were referred to bailiffs to…
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29 August
SRC calls for tax breaks and scrap for online and out-of-town levy
The Scottish Retail Consortium (SRC) has called upon the government to reassure them that it will make no tax increases or freezes to business rates. Retailers also urged the government to scrap a proposed levy for online and out-of-town retailers. Responding to the calls, the Scottish government has promised the…
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28 August
Amazon named ‘most reputable UK retailer’ in consumer survey
Amazon, Boots and John Lewis have topped the 2018 UK Retail RepTrak ranking of the most reputable retailers, the Reputation Institute has announced. The research was based on 5,175 individual ratings from the UK general public and based on an assessment of 50 nominated companies. Amazon’s reputation significantly improved since…
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24 August
Victoria’s Secret plans 20 store closures
Victoria’s Secret has announced plans to close 20 stores, the retailer has already closed six North American stores and has announced it intends to close 14 more stores in undisclosed locations. When asked if closures would affect UK stores by Retail Sector, the company failed to provide a response. The…
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