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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Aug- 2018 -8 August
Boxpark to ‘revive Brighton’ with new development
Retail and leisure development company, Boxpark, has revealed plans to revive Brighton’s Madeira Terrace into an internationally renowned ‘retail and leisure as entertainment’ destination. Plans have been submitted to Brighton and Hove City Council and demonstrate Boxpark’s desire to secure a 12-month exclusivity period to explore design, funding and management…
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7 August
Retail sales growth slows in July amid heatwave
Total retail sales growth slowed in July according to the latest BRC-KPMG Retail Sales Monitor, growing only 0.5% on a like-for-like basis. According to the report sales of non-food products struggled during the month as demand for seasonal purchases slowed due to the heat, which kept shoppers away from days…
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7 August
Phillip Day to snap up Jacques Vert
Retail boss Phillip Day is said to be preparing to add womenswear brand Jacques Vert to his retail portfolio, which has already seen the recent addition of Jaeger. Day will look to acquire the struggling brand through a separate company to Edinburgh Woollen Mill according to Sky News. The deal…
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7 August
Poundworld founder Chris Edwards says retailer was ‘badly managed’ by TPG
Chris Edwards, the founder of collapsed bargain retailer Poundworld, has criticised its owners TPG claiming they “badly managed” the chain. Poundworld’s remaining stores are all set to close by 10 August after it fell into administration on June 11. Private equity firm TPG attributed the collapse to a change in consumer…
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7 August
New Look reports profit rise
New Look has reported it has stabilised its profits, supported by an overachievement of its cost savings. For the 13 weeks to 29 June 2018 the retailer’s EBITDA was up 1.5% to £27.6m, which was stabilised by £70m annualised cost savings in Q1. Its underlying operating profit up 19% at…
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6 August
Game and HMV report ‘impressive’ sales growth
Entertainment retailers HMV and Game have reported an increase in shares of physical entertainment sales for the 3 months to 1 July, despite the overall market declining by 11%. The latest data on the physical entertainment market from Kantar Worldpanel shows a return to growth for mint games, supported by…
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6 August
House of Fraser able to proceed with store closures after legal row ends
House of Fraser has settled its legal row with landlords meaning it can proceed with plans to close 31 of its 59 stores. Landlords had previously argued that slashing rents to support the department store’s rescue plan was unfair. The department store said it was “focused on concluding discussions with…
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6 August
Footfall drops in July as customers avoid high street in heatwave
The heatwave drew customers away from the high street in July, as footfall fell by 10.8% compared with the same month in 2017. According to the Ipsos Retail Traffic Index, footfall was down in all regions compared with July 2017 with Scotland and Northern Ireland seeing 6.5% less shoppers on…
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3 August
Retail salaries hit a five-month high but majority still feel underpaid
Average salaries for retail roles hit a five-month high in July, as pay increased by 1.1% month-on-month according to new data from independent job board CV-Library. However, despite salaries for retail roles seeing positive growth, a seperate survey by the group found that nearly two-thirds (62.2%) of retail professionals believe…
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3 August
Selfridges open ‘Christmas Shop’ four months before the festive period
Selfridges has opened its ‘Christmas Shop’ four months before the festive period, with the department store claiming the decision was made to appease overseas visitors with whom the range is popular. The shop is expected to be fully stocked by September with over 4,000 items, including souvenir pencils priced at…
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