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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Feb- 2018 -21 February
UK retailers ‘self-restricting’ growth due to limited payment options
The UK’s top retailers are limiting online sales potential by up to 30% by not offering a range of payment options. A study, carried out by ecommerce and digital agency Visualsoft, found that almost one in five (19%) of the UK’s top 240 retailers are failing to offer a payment…
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20 February
Philip Green says Arcadia sale rumours are ‘totally false’
Sir Philip Green and board members at the Arcadia Group have denied reports of being in negotiations to sell the company to a Chinese firm. Reports on February 18 claimed that Green was looking to sell parts of, if not all of, his retail conglomerate which owns Topshop, Miss Selfridge,…
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19 February
Third of SME retailers expect Bitcoin on high street in two years
Cryptocurrency will be a regular thing on the UK high street say a third of SME owners.A study conducted by payments provider Paymentsense showed that 35% of SME owners surveyed expected to see Bitcoin and other forms of cryptocurrency on the high street within the next two years. Over a…
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19 February
Philip Green considers selling Arcadia to Chinese firm
British retail magnate Sir Philip Green is reportedly in talks to sell part of the Arcadia Group to a Chinese textiles giant. Reports said that Chinese firm Shandong Ruyi has already held negotiations and looked over the books of the retail conglomerate, which owns Topshop, Miss Selfridge, Burton and Dorothy…
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16 February
Poundland owner appoints Richard Heis as restructuring officer
Struggling retail giant Steinhoff has appointed Richard Heis as chief restructuring officer charged with the task of returning it to stability. Steinhoff is looking to recover from the fallout of an accounting scandal which prompted an 85% fall in its share price wiping more than $10bn (£7bn) off its market…
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16 February
Co-op set to open ‘record number’ of stores and refits
The Co-op will be opening 30 new food stores and refurbishing seven existing properties from its current portfolio in the London region. The first phase of new stores will be located in Walthamstow, Colliers Wood Station, Cricklewood, Colindale Station and Paddington. Peter Batt, Co-op divisional managing director, said it’s an…
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15 February
Laura Ashley shares tumble after profit warning
Shares in retailer Laura Ashley have fallen by as much as 18% after a profit warning was issued for the third time in a year. Total group sales for the fashion and furnishings retailers fell by 7.7% year-on-year to £134.7m. Total like-for-like retail sales were also down 0.5%, despite online…
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14 February
London Bridge retail brands unveiled in £1bn redevelopment
Network Rail has announced that London Bridge station will play host to a number of retail brands as part of its £1bn redevelopment. Cath Kidston and Hamleys will open their doors at London Bridge station this month, with Mac, Rituals, Ted Baker and The Body Shop all set to join…
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14 February
Pure Collection fined nearly $1m for customs evasion
Clothing retailer Pure Collection has been fined $908,100 (£655,230) by the US government to settle a whistleblower lawsuit for customs evasion. Andrew Patrick, the whistleblower who exposed the alleged fraud, worked for Pure Collection from 2010 to 2014. Patrick alleged in his lawsuit that Pure Collection engaged in a practice…
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14 February
Primark fined £47,000 over transgender discrimination ruling
Primark has been ordered to pay £47,433 in compensation to a former transgender employee after they were harassed and constructively dismissed. The Employment Tribunal ruled that the retailer was to compensate Alexandra de Souza E Souza, who worked at Primark’s Oxford Street west store, to cover injury to feelings, and…
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