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 -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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24 August
Retailers risk losing two-thirds of customers with ‘new shopper’ discounts
Retailers are at risk of losing their most loyal customers if they don’t change the way they execute sales periods. Research commissioned by Collinson, a global loyalty and benefits company (formerly ICLP), found that 66% of respondents said retailers which offer discounts exclusively to new customers ‘annoy’ them as loyal…
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23 August
Urban Outfitters records record sales results as shares rocket
Urban Outfitters has announced record overall sales of £769.5m, seeing a 13.7% increase across the three months to July 31. The fashion retailer also announced an 86% income rise over the last quarter, bringing its half year income to £103.9m. The record figures led to a rocket in share price…
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23 August
Laura Ashley full year profits plummet to £100,000
Homeware retailer Laura Ashley has announced its annual profit before tax reached a low of £100,000 in 2018, due to “difficult trading conditions”. In the group’s full year results, total like-for-like retail sales were down 0.4% and total group sales declined to £257.2m, a fall of £19.8m compared with 2017.…
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22 August
TK Maxx parent company announces 12% sales increase
The parent company of TK Maxx, TJX, has announced it has seen a 12% increase in net sales for the last financial year, double last years figure. Comparable store sales for the company’s European division rose to 4% over the last quarter from just 1% over the same quarter the…
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