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- 2024 -28 June
Boots sees 13th straight quarter of market share growth
Boots has revealed that it has posted a 13th consecutive quarter of market share growth for the three months ended 31 May 2024. The health and beauty retailer saw a retail sales increase of 6% in the period compared with a 13% increase in the same period last year. Furthermore,…
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26 June
Dominic Chappell ordered to pay £50m over BHS collapse
Former owner of BHS Dominic Chappell has been ordered to pay at least £50m to cover the losses incurred by the high street chain prior to its collapse, according to the Financial Times. A High Court judge has ruled that Chappell, who acquired the business for £1 from Phillip Green,…
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21 June
Card Factory to engage shareholders after AGM revolt
Card Factory has announced that it will engage with shareholders after a revolt over the reelection of its chair. The greetings card retailer saw nearly a quarter of shareholders vote against the reelection of Paul Moody. Moody joined the business in July 2020 as executive chair and saw 24.87% of…
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21 June
UK retail sales jump 2.9% in May
UK retail sales volumes rose by 2.9% in May 2024, following a fall of 1.8% in April 2024, according to the Office for National Statistics (ONS). Sales volumes rose across most sectors, with clothing retailers and furniture stores rebounding following poor weather in April. More broadly, sales volumes rose by…
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20 June
The Perfume Shop sales rise 4% in run up to Father’s Day
UK specialist fragrance retailer The Perfume Shop has hailed an “outstanding” sales period for Father’s Day with a record 225,397 bottles sold over 14 days in the run up to 16 June 2023, seeing a 4% increase in sales compared with the same period in 2023. It said this equated…
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10 June
Labour vows to overhaul business rates system
The Labour party has vowed to overhaul the current business rates system should it be victorious in the general election. The party stated that it would replace the current system with a new system that will “level the playing field between the high street and online giants”. Shadow chancellor Rachel…
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7 June
BIRA leads £1bn damages claim against Amazon for UK retailers
The British Independent Retailers Association (BIRA) has brought forward a £1bn pound damages claim against Amazon on behalf of retailers selling on Amazon’s UK marketplace accusing it of “illegally misusing their data and manipulating the Amazon Buy Box to benefit its own commercial operation and its overall revenues and profit”.…
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5 June
WH Smith maintains FY guidance amid rising travel sales
WH Smith has reported being in line with its expectations for the full year and claimed it is “well positioned” for peak summer trading, as total summer travel revenues in the 13 weeks to 1 June rose 9% on a constant currency basis. This comes as the retailer saw passenger…
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5 June
B&M posts profits of £498m
B&M has revealed that its statutory profit-before-tax rose 14% to £498m, up from £436m, for the year ended 30 March 2024. Furthermore, the group’s revenue jumped 10.1% to £5.5bn or 7.8% when excluding the 53rd week. Alongside this, the retailer posted an adjusted EBITDA of £629m, a 9.7% increase year-on-year…
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May- 2024 -30 May
Clarks falls to £40m loss
Clarks has revealed that it posted a loss of £39.8m for the year ended 31 December 2023, down from a profit of £35.9m in 2022. The company has put this down to a number of one-off costs in 2023 including £4.6m on restructuring. This also includes a £3m increase in…
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