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.
-
Sep- 2018 -26 September
eBay enters partnership with first UK city to boost retail
Online marketplace eBay has announced it has entered a 12-month partnership with the city of Wolverhampton to help small retailers get online, grow the local economy and demonstrate that online and high street retail can coexist. The partnership will see experts from the online marketplace stationed in the city to…
Read More » -
26 September
Poundland to remove kitchen knives from stores
Poundland has announced it will have removed all kitchen knives from its 755 UK stores by the end of next month. The budget retailer said the decision was made through “thoughtful reflection about concerns raised by both communities and colleagues”. Knife crime in England and Wales has risen by 16%…
Read More » -
26 September
Michael Kors acquires Versace for £1.6bn
Michael Kors has acquired Italian fashion house Versace for £1.6bn, with the deal expected to close in the final quarter of 2019. Upon the closing of the acquisition, Michael Kors Holdings will be renamed to Capri Holdings, with the name inspired by “the fabled island which has long been recognized…
Read More » -
25 September
‘Weak consumer environment’ hits Card Factory profits
Card Factory has announced that a “weak consumer environment” has had a negative impact on pre-tax profits. The gift shop chain posted pre-tax profits of £22.7m during the six month period ending 31 July 2018, down 14% compared with the previous year. This is despite a total sales increase of…
Read More » -
25 September
Three further House of Fraser stores to shutter due to ‘greedy landlords’
House of Fraser has announced it is to close three further stores in Hull, Edinburgh and Swindon, with new owner Mike Ashley saying he was unable to agree terms with “greedy landlords”. The retailer is currently in consultation with staff at the affected stores, and said its Bath store was…
Read More » -
25 September
Next remains ‘cautious’ despite sales increase
High street retailer Next has posted a sales increase of 4.5% for the half year ending July 2018 but said it remained “cautious” in its outlook for the rest of the year. The retailer’s in-store sales amounted to £925.1m while its online sales were £892.3m for the six months. The…
Read More » -
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…
Read More » -
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”.…
Read More » -
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…
Read More » -
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…
Read More »
