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 -7 June
Joules 18% sales boost defies high street blues
Clothing retailer Joules has announced a rise in revenue for the year up to May 27 of 18% on figures for the same period last year. Retail revenues rose 16%, which the company says was “driven by a very good e-commerce sales performance as well as continued growth across the…
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6 June
Poundworld buyer pulls out
The future of discount retailer Poundworld has been cast into doubt following Alteri Investors withdrawal from their buyout. Other bidders are queuing up however with founder Chris Edwards rumoured to be considering re-acquiring the 355-store chain. He sold the chain to TPG for £150m and then took over at rivals…
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6 June
Silks ad that ‘objectified women’ banned
A poster advert for Scottish lingerie retailer Silks has been banned by the Advertising Standards Authority (ASA) for “objectifying women” after it showed an image of a woman leaning forwards to emphasise her breasts with her head out of shot. This morning’s ASA ruling said that the advert “invited viewers…
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6 June
WHSmith Q3 sales boosted by travel business
WHSmith has posted an uptick in Q3 sales driven by the continued growth of its travel business. In the 13-week period ending 2 June, the bookseller and newsagent chain’s total group sales were up 4% with like-for-like sales up 1% compared with last year. Travel business total sales were up…
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5 June
H&M to change clothes sizes following customer complaints
Fashion retailer H&M says its clothes are to become bigger after several customers complained about their small size. One customer said on Twitter: “I remember trying on a size 12 shorts in H&M that wouldn’t even go over my knees, size 16 didn’t either. I gave up shopping there after…
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5 June
Quiz defies high street blues with 30% growth
Fashion retailer Quiz has bucked a calamitous high street trend in the first half of 2018, announcing revenue growth of 30% from the previous financial year. Physical store sales grew by 12% and online sales by 158% compared with last year. The company also saw pre-tax profit rise slightly from…
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5 June
Retail sales bounce back, jump 4% in May
Retail sales in May increased by 4.1% year-on-year, the highest growth reported since January 2014. According to the British Retail Consortium (BRC) and KPMG’s latest Retail Sales Monitor, the better weather and the bank holiday effect led shoppers to buy more garden furniture and summer fashion ranges, recovering some of…
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4 June
Mothercare vote mishap puts CVA under threat
Mothercare’s plans for a company voluntary agreement (CVA) to stave off further problems, have been plunged into uncertainty after a mistake was made during the counting of votes last week. It was thought that the CVA would see Mothercare’s Children’s World company pay off its debts. But last week’s vote…
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4 June
Shoplifting incidents increase 4% in a year
An OnBuy investigation which used data from the UK Police has revealed a 4% increase in shoplifting offences in this financial year. The figures were compared with previous years’ figures for England and Wales. The investigation showed a total of 378,725 shoplifting incidents reported to 42 police forces in England…
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4 June
Poundworld sale rumoured to be edging closer
Poundworld is reportedly edging closer to a rescue deal with its owners TPG are rumoured to be finalising the terms of a sale to Alteri Investors. It was reported today that Alteri Investors, which is backed by private equity firm Apollo Management and is a former owner of Austin Reed,…
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