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 -9 July
Matalan continues strong performance with 4.9% revenue boost
Fashion and homeware retailer Matalan has reported a 4.9% increase in revenue for the 13 weeks ending 26 May 2018. Total revenue increased by £15.5m to £265.9m, with the group pointing to its children’s ranges as the “highlight this season” in addition to strong performance across the board. Jason Hargreaves,…
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9 July
Mothercare adds 10 store closures to CVA after Childrens World administration
Mothercare has earmarked another 10 stores for closure as part of its CVA bringing the total to 60 stores, after the group’s Childrens World division entered administration. The new store closures mean that up to 900 jobs will be lost by June 2019. The news comes after the CVA proposal…
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6 July
UK Treasury rejects retailers’ business rates reform calls
The UK Treasury has today rejected calls from retailers who say business rates should be reformed to create a level playing field with online retailers. During a meeting of parliament’s Treasury Select Committee, chancellor Philip Hammond said reforming international corporation tax was a higher priority for the government, adding that…
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6 July
Poundworld founder urges ‘moral argument’ after administrators reject rescue bid
A rescue bid offer made by Poundworld founder Chris Edwards has been been rejected by appointed administrators Deloitte, who say it is not high enough. On 3 July a Deloitte spokesperson said the group was continuing “to seek a buyer of all or parts of the business”, but added to…
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5 July
Retailers win court battle against Mastercard and Visa
The Court of Appeals has ruled in favour of four UK retailers who claimed that card fees charged by Mastercard and Visa when customers make a transaction were too high. Judge Terence Etherton agreed with Asda, Sainsbury’s, Morrisons and Argos and found that the card merchants’ system was an “unlawful…
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5 July
Primark defies high street strife with 6% sales boost
Budget fashion retailer Primark has reported a 6% increase in sales in the 40 weeks to 23 June compared with the previous year. Associated British Foods (ABF), which owns Primark, said growth was driven by increased retail selling space in the UK and abroad, and as a result of “better…
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5 July
England/Colombia World Cup win scores UK a £1.3bn economy boost
England’s penalty shootout victory against Colombia has given the UK economy a £1.33bn boost according to new figures. The figures from the Centre for Retail Research (CRR) show that the UK will benefit from a £2.72bn boost if England make the final. It is thought that the majority of the…
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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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