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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Mar- 2018 -20 March
Amazon targets vacant Toys R Us premises
Amazon is understood to be considering buying sites from Toys R Us, just days after the toy retailer announced plans to wind up its US business. According to Bloomberg sources close to Amazon say that it has taken an interest in Toys R Us’ estate, which will soon be reduced…
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20 March
Conviviality CEO resigns amid £30m tax bombshell
Conviviality has announced its CEO Diana Hunter has stepped down with immediate effect as its struggles stay afloat following the late discovery of a £30m tax bill. In a statement the off-licence retailer said Hunter will remain with the company for a period to provide transition support, and non-executive chairman…
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20 March
B&M fights Kylie Minogue in bed linen branding dispute
Bargain retailer B&M has refuted a legal claim made by Kylie Minogue against it for selling two products named ‘Kylie’, calling her “greedy”. B&M also claimed that the Australian singer is not even the most famous Kylie and pointed to reality star Kylie Jenner. Home furnishings designer Ashley Wilde and…
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19 March
Pets at Home stops Easter rabbit sales
Pets at Home’s has made the decision to stop the sale of rabbits and adoption of rabbits at its 440 stores during this Easter Period. The retailer is instead holding a series of free workshops this Easter. Attendees can get up close and personal and learn some fun facts about…
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19 March
Next expected to post profits drop, say analysts
Analysts have predicted that clothing chain Next will be latest retailer to report a fall in profits this Friday. It is expected that the 154-year-old company will report earnings of £725m – an 8% drop in annual pre-tax profits compared with last year’s figure of £790m. However, analysts also said…
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16 March
Conviviality surprise £30m tax bill prompts business review
Off-licence retailer Conviviality has announced it is reviewing the business while holding “constructive” negotiations with lenders, as part of the measures it is taking to handle its £30m tax bill. Earlier this week, the company said that the bill due for payment to HMRC on 29 March had only been…
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14 March
3,000 Toys R Us jobs to go as it confirms ‘controlled store closures’
All UK Toys R US stores are poised to shut down after administrators failed to find a buyer, resulting in a store closure programme and a possible 3,000 job losses. Toys R Us appointed Moorfields Advisory partners Simon Thomas and Arron Kendall to oversee an administration at the end of…
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14 March
Research shows Brexit doesn’t mean exit for international retailers in London
Research from real estate advisor, Colliers International, reveals that in the face economic uncertainty due to Brexit, Central London still remains a prime destination for international brands. Colliers found over 50% of stores on core shopping streets are international brands and 30 new retailers have arrived in the last year…
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14 March
Zara owner Inditex sees 41% jump in online sales
The owner of Zara and Massimo Dutti, Inditex, saw online sales revenue grow by 41% in 2017, according to a trading update. In 2017, Inditex invested €1.8bn (£1.5bn) in further developing its integrated stores and online model and upgrading its technology Specifically, the rollout of radio-frequency identification (RFID) technology (used…
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14 March
Poundworld fined £1.1m for ‘out of control’ infestation
Discount retailer Poundworld has been fined £1.1m due to its Croydon store failing food hygiene protocols, with over 100 dead mice and a dead fox found in the premises. The retailer was found to have taped products up that rodents had eaten and put them back on sale, reports the…
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