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 -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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17 September
Paperchase sees key credit insurer reduce cover
Paperchase is facing increasing pressure as one of its main credit insurers has reduced its cover after the company posted a slump in profits. Paperchase saw its profits before tax drop 88% to just £613,000 in the year to 28 January, according to its latest accounts filed with Companies…
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14 September
London department stores smash own windows
London department stores including Harrods, Harvey Nichols and Fortnum & Mason have smashed their own windows to commemorate the centenary of women’s voting rights. The move is the result of a partnership between the British Fashion Council (BFC) and the Mayor of London’s ‘Behind Every Great City’ campaign. The mayoral…
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14 September
Sports Direct struggling to find auditor as EY, KPMG and PwC refuse role
EY, KPMG and PwC have all declined to take on an audit of Sports direct as the company attempts to find a replacement for Grant Thornton. According to Sky News three out of the ‘big four’ accounting firms have declined to take up the role due to potential conflicts of…
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13 September
New retail park specialising in ‘bulky goods’ to create 260 jobs
A new retail park in East Kilbride, Scotland specialising in “bulky goods” such as furniture, carpets, DIY, kitchens, bathrooms, furniture, beds and homeware, will create 260 jobs according to its developers. Peel Park is set to cost developers London & Scottish Investments (LSI) £35m stretching across 125,000 sq ft. The…
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