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 -24 May
Shoe Zone’s profit more than triples in latest results
Shoe Zone has announced that its profits have more than tripled in its financial results for six months to 31 March 2018. The value footwear retailer saw statutory profit before tax reach £1m, a marked increase when compared with the £300,000 it posted over the same period in 2017. Shoe…
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23 May
Primark set to overtake Marks and Spencer market share
Primark is set to overtake M&S to become the UK’s largest clothing retailer by market share, according to new data. The discount clothing chain will see its market share rise to 7% while M&S will see a drop to 7.6%. New data from Global Data has shown that Primark’s market…
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23 May
Boots posts revenue and profit drop
In newly filed accounts Boots has reported a drop in both its revenues and profits for its most recent financial year. In its strategic report for the year 31 August Boots posted revenues of £6.83bn down from £6.87bn the previous year. The beauty and pharmaceutical retailer also announced pre-tax profits…
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22 May
Revealed: M&S names stores to shutter
M&S has announced the next tranche of UK stores proposed for closure or set to close as it reshapes its UK store estate with plans to take at least a third of sales online. The retailer will close over 100 stores in total by 2022, including 21 that have already…
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22 May
Topps Tiles see profits crack by almost 33%
Topps Tiles has seen a 32.6% drop in pre-tax profits, falling from £9.5m to £6.4m. The firm did see revenue growth in the six months ending on March 31 by 3.7% up to £110.5m from £106.6m. In a recent attempt to pull in more customers the retailer ran several sales…
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22 May
Tim Stacey named CEO of DFS
DFS, has announced that Ian Filby will be retiring as CEO to be succeeded by Tim Stacey, the current group chief operating officer (COO). Ian Filby will also step down from the board of directors on the 31 October 2018 following eight years at the helm of the furniture retailer.…
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21 May
House of Fraser CVA could close up to half its stores
House of Fraser is expected to close around half of its UK stores as part of its upcoming Company Voluntary Agreement (CVA) next month. According to reports around 30 of its 59 UK stores are set to be axed as part of the CVA with rent cuts expected to be…
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21 May
M&S could close 40 more stores
M&S could close 40 more stores according to reports, bringing the total closed stores to 100 as it continues to struggle with bad economic weather on the high street. So far 20 of the chain’s stores have already closed down impacting 900 staff members, with staff finding out today whether…
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21 May
SME retailers see international payments double
Small and medium-sized retailers (SMEs) are responding to macroeconomic pressure in the UK by expanding internationally, according to a survey. WorldFirst’s latest Global Trade Barometer (GTB) quarterly survey from the currency exchange service company found that the average SME retailer made overseas transfers of £54,274 in Q1 2018 – nearly…
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18 May
34 Carluccio’s restaurants to close after it announces CVA
Italian restaurant chain Carluccio’s has announced it is to close 34 restaurants as part of a recently announced company voluntary agreement (CVA). As many 103 UK sites are also set to “exit” as part of restructuring at the company. The CVA, yet to be approved by creditors will see the…
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