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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May- 2018 -31 May
Poundland spits back at Thameslink after Twitter jibe
Train operator Thameslink and discount retailer Poundland have traded barbs after a disgruntled rail passenger tweeted innocuously about delays. Thameslink has come under heavy fire in recent weeks due to unpopular timetable changes, and another set of delays prompted a Twitter user, ‘Kevin’, to tweet an image of a departure…
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31 May
Card Factory reports ‘robust’ performance
Card and gifts retailer Card Factory has revealed a 3% increase in total group sales in its first-quarter trading update. Like-for-like sales decreased by 0.4%, but total and like-for-like sales over the quarter showed a robust performance. Karen Hubbard, Card Factory’s CEO, said: “We have had a solid start…
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31 May
TUC, Usdaw launch petition calling for Marks and Spencer transparency
Shopworkers’ trade union Usdaw has joined with the Trades Union Congress (TUC) to launch a petition calling on Marks and Spencer to immediately open up a dialogue with the union to ensure staff are properly represented throughout its programme of store closures. Paddy Lillis, Usdaw General Secretary Elect, said: “All staff…
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30 May
B&M profits buck high street blues, jump 20%
Discount retailer B&M has seen pre tax profit rise by 25.4% to to £229.3m along with group revenues rising to 22.4% for the year ending 31 March. The group opened 47 new stores last year and plans to open a further 45 this year as it continues to grow. The…
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29 May
WH Smith bottom of the pile in Which? survey
WH Smith has been named the UK’s worst-rated retailer by consumers with a 58% consumer satisfaction rate in a new survey of 10,356 people. The survey by consumer group Which? saw responses from customers who found the store “very expensive” and said that it needs “updating”. WH Smith customer responses…
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29 May
Westend Retail Park in Dublin sold for €147.7m
Irish property management group Green Reit has sold the Westend Retail Park in Blanchardstown, Dublin, to a DWS real estate fund for €147.7m (£128.9m).The sale amount is in line with the most recent valuation of the property, which was €147.1m (£128.4) in December 2017. The retail park comprises 230,742 sq…
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29 May
Carphone Warehouse to close 92 stores this year
Carphone Warehouse CEO Alex Baldock has announced that the company will close 92 stores by the end of the year. In a trading update that also focuses on the electrical and mobile phone retailer’s 2018/19 outlook Baldock said the company is taking “early action” as a result of a warning…
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25 May
April retail sales see recovery
Retail sales saw an unexpected boost in the month of April as consumers returned to the high street following the good weather. According to the latest figures from the Office for National Statistics (ONS), retail sales rose 1.6% in April. When compared with March 2018 the quantity bought in April…
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24 May
Poundworld to close 117 stores by 31 August
Poundworld is looking to close 117 of its 355 UK stores by 31 August as part of its CVA proposal, it has been revealed. The Grocer reports it has seen a document detailing the proposals, which suggest almost a third of its stores would be set to close and rent…
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24 May
Philip Green’s Arcadia records £10.9m loss
Topshop owner Arcadia Group – Philip Green’s retail empire – has recorded a loss of £10.9m in the year up to August 2017, starkly contrasting with last year when it profits were £59.4m. Accounts filed at Companies House showed the group also saw a 6% drop in sales down to…
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