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 -5 July
Superdry sees 22% revenue rise, announces ‘special dividend’
Clothing brand Superdry has posted a 22% rise in global brand revenue in its full-year results ending 28 April 2018 and has announced a ‘special dividend’ for the second consecutive year. The fashion chain retailer saw its global brand revenue reach £1.6bn up from £1.3bn in 2017. The company’s retail…
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4 July
Topps Tiles to continue ‘tight cost control’ after Q3 sales dip
Topps Tiles has posted a further decrease in sales for the 13 weeks ending 1 July 2018, and said it plans to continue “tight cost control” in the face of a “weaker consumer environment”. In a Q3 update the tiling retailer reported a 2.3% decrease in like-for-like sales over the…
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4 July
Scribbler to stock interracial and LGBTQ greeting cards in UK first
Greetings card retailer Scribbler has become the first UK high street retailer to stock greeting cards featuring interracial and LGBTQ couples this month ahead of Pride in London. The range was created by card designer Huetribe and aims to promote social inclusivity and celebrate the “beauty of diversity”. Tineka Smith,…
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3 July
Deloitte hits back at Poundworld founder over rescue bid row
Deloitte has hit back at accusations made by Poundworld founder Chris Edwards over the handling of the company’s administration. A statement circulated by Edwards yesterday said “the whole administration process has been handled badly” and he added if something doesn’t happen in the next few days, “the business will go…
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3 July
Personal information of job applicants leaked in Costa Coffee data breach
The parent company of Costa Coffee, Whitbread, has been the subject of a data breach which has seen personal information of job candidates exposed. A cyber attack was carried out on Whitbread’s recruitment agency, PageUp, potentially leaving data including home address, email address, telephone number, maiden name, date of birth,…
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2 July
Estate agents join high street casualties as insolvencies rise
Around 153 estate agents have gone insolvent in the last year, up from 148 the year before, according to a new report. Accountancy firm Moore Stephens found that as the online estate agency market continues to grow, firms such as Hatched, Rightmove, Yopa and Zoopla have squeezed high street rivals.…
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2 July
Philip Green’s company fails to block BHS audit report
The parent company of Philip Green’s Arcadia retail empire, Taveta Investments, has failed to impose an injunction on the publication of BHS’ audit reports. It was seeking an interim injunction before a judicial review of the report, but the High Court ruled in favour of the Financial Reporting Council (FRC)…
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2 July
Retail job losses make up almost half of 50,000 lost this year
Almost half of the 50,000 jobs lost in the UK this year have been in the retail sector, new figures suggest. Data from the Press Association shows that around 50,000 have seen their jobs cut or have had their positions threatened during the first half of the year, while additional…
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Jun- 2018 -29 June
Boots shares plunge 10% following Amazon medicine service acquisition
Shares in the parent company of pharmacy chain Boots, Walgreens Boots Alliance, have plummeted by 10% this morning following news that Amazon has acquired medicine delivery company Pillpack. The American startup made $100m last year and will now see Amazon take over late next year, with the price of the…
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29 June
H&M profits plunge 22% prompting price cuts
H&M has reported a 22% drop in profits before taxation for the first half of the year, with its CEO saying he expects a “tough first half-year”. Profits fell to 6bn Swedish krona (£510m) and net sales were almost flat at 51.98bn krona (£441m). Overall, its sales for 2018 Q1…
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