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 -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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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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