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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Jul- 2018 -25 July
Number of retail staff working nights doubles
New research has found that the number of retail staff working regular night shifts has increased by 50%. The research by the Office of National Statistics (ONS) found that between 2007 and 2017 the number of retail workers who worked nights as a regular shift pattern increased by 50%. According…
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25 July
Joules continues to defy retail gloom as sales and profits rise
British clothing retailer Joules has continued to defy the high street gloom by reporting double-digit growth in both revenue and profits. In its full-year results ending 27 May Joules posted group revenue of £185.9m, up 18% when compared with the £157m reported the previous year. Group revenue was boosted by…
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24 July
Retail sales buoyed by England football frenzy
Retail sales during the Football World Cup tournament increased on the days that England played, according to data from a retail software company. Vend figures showed sales grew by 6% when England played despite the 11% average decrease in retail sales compared with the previous month, throughout the tournament. Data…
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24 July
Marks and Spencer partners with Founders Factory to invest in retail startups
Marks and Spencer and Founders Factory have partnered for the launch of Founders Factory Retail, a joint venture focused on investing and growing startups. Marks and Spencer will become Founders Factory’s exclusive UK retail partner, investing in a number of startups sourced through Founders Factory’s global network as part of…
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24 July
Over 30,000 retailers in ‘significant financial distress’ at end of Q2
Over 30,000 retailers were found to be in “significant financial distress” at the end of June 2018, according to research Professional services firm Begbies Traynor’s ‘Red Flag Alert’ research for Q2 2018 found 472,183 businesses were experiencing financial distress, a 9% increase when compared with the same period the previous…
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23 July
McColl’s CFO resigns amid ‘most challenging six months’
McColl’s CFO, Simon Fuller, has resigned amid the firm’s “most challenging six months” during which profits almost halved. Although the British convenience store retailer saw total revenue increase 19.2% year-on-year to £601.7m, attributed to the 2017 acquisition of around 300 Co-op stores, McColl’s reported profits of £2.3m down from the…
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23 July
Committee finds retailers ‘poor’ at regulating fur sales
The Environment, Food and Rural Affairs Committee has found that retailers, local authorities and Trading Standards have been “poor at enforcing regulations around the sale of real fur”, following its recent inquiry. The committee also said that Brexit would provide an opportunity for the UK to improve its system of…
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20 July
High street struggles drag sterling down to $1.30
The pound has been dragged down to $1.30 by declining high street footfall and the financial woes of a slew of retail brands. An increase in retail sales of 0.2% had been predicted by the Office for National Statistics (ONS), however statisticians were surprised by a fall of 0.5% in…
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20 July
Study finds small retail businesses struggle with brand identity
UK retail small businesses are struggling to differentiate themselves according to new research released by Vistaprint and run the risk of “merging into one”. The study found that 40% of small businesses in the retail sector may be guilty of not branding themselves effectively, leaving them exposed to missed…
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20 July
Inquiry into BHS directors could be reopened
The inquiry into the former directors of BHS could be reopened following the discovery of new information by the Financial Reporting Council (FRC), Retail Sector has learned. The chief executive of the Insolvency Service Sarah Albon, requested more information from the FRC regarding the conduct of the retailer’s directors. The…
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