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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Jun- 2018 -20 June
Independent retailers feeling ‘optimistic’ about high street future
More than half of the nation’s independent high street retailers are optimistic about the future of their local high street – and four out of five shoppers would miss their local high street if it was no longer there. This is according to new research to launch the government-run Great…
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19 June
Eat avoids CVA decision following sales boost
Sandwich chain Eat has avoided making the decision to draft in advisors as recent closures and an increase in sales have put the company back on track, Retail Sector understands. In February, the chain was reported to have appointed advisors KPMG to help it with its restructuring plan which included…
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19 June
Bonmarché’s £8m profits fight off ‘challenging trading conditions’
Bonmarché has fought off “challenging trading conditions” affecting many high street retailers by posting a 38% increase in profit before tax to £8m in its latest preliminary results for FY18. The women’s clothing retailer reported a surge in profits despite a fall in revenue from £190m to £186m. Store like-for-like…
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19 June
Debenhams issues profit warning
Debenhams has issued a warning saying it now expects pre-profits to be “in the range of £35m-£40m” significantly lower than City forecasts of £50m. The company blamed poor conditions on the high street and said that it doesn’t expect improvement anytime soon. The warning is Debenhams third of the year…
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15 June
Microsoft to take on Amazon in checkout-free showdown
Microsoft is reportedly working on technology to cut out cashiers and checkout queues in shops in the first challenge to Amazon Go who opened their checkout-free store in Seattle in January. Sources close to the development of the technology told media that Microsoft is developing software to track what shoppers…
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15 June
Royal wedding boosts retail sales in May
The quantity bought in the retail industry increased by 1.3% in May 2018 when compared with April 2018, according to the Office for National Statistics (ONS). Feedback from retailers suggested that a sustained period of good weather and royal wedding celebrations encouraged spending in food and household goods stores in…
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14 June
N Brown to close all of its remaining stores
N Brown Group, which owns fashion retailers JD Williams, Jacamo and Simply Be, has announced plans to shut down all of its remaining 20 stores, putting 240 jobs at risk. The company had a 0.4% dip in group revenue and 2.8% drop in product revenue in its Q1 report. Poor…
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14 June
World Cup sticker price rise sees newsagent distributor CEO resign
Mark Cashmore, the CEO of Connect newsagent distributors, has left the company after it saw shares plummet by 66% (an all time low) after the price of Panini’s World Cup sticker packs increased from 50p to 80p. Chief financial officer David Bauernfeind has also left the company following the price…
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14 June
Generation Z prefer ‘real-world retail’ over online shopping
Generation Z consumers enjoy ‘real-world retail experiences’ that focus on technology rather than online shopping, a new study has found. Commerce marketing technology company Criteo has released its Gen Z report, which analyses shopping perceptions and behaviours from thousands of members of Generation Z (Gen Z). It’s latest report revealed…
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14 June
Majestic Wine sees profit and sales increase
Wine retailer and supplier Majestic Wine has reported an increase in profits and sales for the 52 weeks ended 2 April 2018. The group reported that its sales were up by 2.3% for the year. It said this increase was driven by 11.3% underlying sales growth in its online wine…
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