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 -16 May
Moss Bros trading recovers slightly but sales struggles continue
Moss Bros has announced a slight improvement in its first quarter for 2018 despite its sales figures continuing to struggle. Total like-for-like sales were 5.2% lower for the 15 week period to the 12 May 2018. However this is an improvement on the 6.5% decline that was reported in its…
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16 May
‘Royal wedding fever’ to boost retail spending by £195m
The royal wedding is set to boost retail sales across the UK by an estimated £195m by the end of August, according to retail specialists Springboard. According to the group retailers are set to receive a much needed boost in May, with an estimated £93.1m to be spent across UK…
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15 May
Mothercare to speed up store closures and job cuts
Mothercare have announced they are set to speed up the closure of stores and cutting of jobs, in order to attract fresh funds from investors. The baby store chain confirmed to media that it was launching an equity fund as part of a restructuring and refinancing package. The new strategy…
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14 May
Poundworld suspends CVA as US owners receive expressions of interest
TPG Capital, the US owner of Poundworld, has delayed plans of a potential Company Voluntary Agreement (CVA) for the discount retailer as it has received expressions of interest for the company. Poundworld was due to undergo a CVA that would have seen the closure of 100 of its 355 stores…
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14 May
Northern Ireland suffers most from UK retail struggles
Northern Ireland is suffering the worst of retail’s bad weather, showing a 7.3% drop in footfall and a retail space vacancy rate of 14.2%, 5% higher than the UK average. The figures from statistics and research firm, Springboard, show the country reporting its worst retail performance since 2015. The decline…
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14 May
Wet start to April dampens retail footfall
Footfall in April decreased by 3.3%, which is a significant decline compared to the 1.6% increase seen the previous year. New data from retail intelligence firm Springboard revealed that there has been no growth in footfall for any UK region for two consecutive months. Most regions saw a slower rate…
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11 May
Superdry’s global revenue surges to £1.6bn
Fashion retailer Superdry global brand revenue surged by 22% to £1.6bn for the 12 months to 28 April. In a trading update Superdry said the growth was driven by “continued strong progress in Superdry’s capital light channels, wholesale and ecommerce”, which delivered sales growth of 29.6% and 25.8% respectively. Additionally…
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10 May
Homebase receives bid from former Comet owner
Opcapita, the former owner of Comet has put in a bid of an undisclosed amount for Homebase according to Sky News. Homebase owners Wesfarmers are looking to sell the chain following their 2016 takeover and are offering a £100m dowry to any potential buyer. Homebase reported a $97m trading loss…
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10 May
Next defies gloom with Q1 sales growth
Fashion retailer Next has recovered from its “most challenging year” reporting a Q1 sales increase of 6% compared with last year. Next said that the results were better than expected and around £40m ahead of its internal forecast, boosted in recent weeks by unusually warm weather. The company’s online sales…
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9 May
Retail sales ‘fall off a cliff’ in April
Like-for-like sales fell by 4.2% in April, according to the British Retail Consortium’s (BRC) latest BRC-KPMG Retail Sales Monitor. Online retail bucked the overall trend of declining sales, with growth in all categories except toys and baby equipment. According to the report, retailers hope for a “buoyant May, boosted by…
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