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 -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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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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