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 -12 February
Game to open ‘e-sport arenas’ within Sports Direct stores
Video game retailer Game has announced plans to open e-sports ‘gaming arenas’ and concessions within Sports Direct stores. The Belong brand is the group’s competitive gaming and e-sports scheme centred around physical ‘arenas’, bringing both casual and competitive gaming to communities nationwide in cities, town centres and major shopping centres.…
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12 February
Retail footfall takes a hit with Scotland showing sharpest decline
Footfall in January decreased by 1.6% year-on-year, showing a deeper decrease than the rate seen for January 2017, according to new figures. New British Retail Consortium (BRC) data showed a drop in footfall across all UK regions, with the sharpest decline being seen in Scotland (4.6 %). Despite footfall falling…
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9 February
HMV owner eyes the purchase of Toys R Us
The downfall of Toys R Us could be delayed as HMV owner Hilco Capital sets its sights on the toy retailer. Hilco Capital purchased HMV five years ago and saved 132 HMV shops from closure. Hilco Capital met with Toys R Us UK executives earlier this week to discuss the…
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9 February
UK high street sees ‘glacial growth’ in January
In the month of January, total like-for-like sales were up by 0.6% compared to 0.1% for the same month last year, according to business advisory firm BDO’s High Street Tracker report. Excluding the drop in January 2017, the growth this month for the traditional sales season was still the lowest…
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9 February
New Look MD steps down following profit loss
The managing director of fashion retailer New Look has departed the company after five years in the position. This follows the news of the fashion retailer reporting a pre-tax loss of £123.5m for the past nine months. Barrasso’s departure is effective immediately from 9 February, and the retailer announced a…
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8 February
Debenhams puts 320 jobs at risk with new cost-cutting drive
Fashion retailer Debenhams has announced a new cost cutting drive that could put 320 positions at risk of redundancy. The firm said the employee reshuffle will improve the company’s finances, after the group’s shares plunged by 20% due to a ‘disappointing’ Christmas trading period. A profit warning was issued due…
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7 February
Poundland Christmas Elf campaign banned by ASA
The Advertising Standards Authority (ASA) has banned Poundland’s ‘Elf Behaving Badly’ campaign following the numerous complaints it received. The Christmas campaign was run on Poundland’s social media pages and depicted a children’s toy elf in a series of pictures that had sexual connotations. ASA said it received 85 complaints…
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7 February
Warren Evans goes into administration
Bed and furniture retailer Warren Evans has gone into administration putting its 14 stores and one factory at risk. The retailer was looking for a buyer in January and independent advisors Duff and Phelps were appointed to handle the sale with the aim of completing the sale by the end…
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7 February
Brits set to spend £650m on Valentine’s Day
Brits are forecasted to spend £650 million this Valentine’s Day, according to research from Mintel. Last year £620 million was spent on Valentine’s gifts, compared to £575 million at Easter 2017. Despite the challenging consumer outlook, Mintel forecasts that sales of Valentine’s Day gifts will rise by 5% compared to…
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5 February
2,000 Homebase jobs in doubt amid up to 40 closures
Up to 2,000 jobs could be axed at DIY retailer Homebase after it announced the potential closure of 40 stores. Australian firm, Wesfarmers, which owns Homebase’s parent company Bunnings UK (BUKI) said the DIY retailer had “greater than expected losses” and a “poor trading performance”. The firm has booked a…
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