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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May- 2024 -29 May
Pets at Home PBT drops 3.2%
Pets at Home has revealed that its underlying profit-before-tax dropped 3.2% year-on-year to £132m for the year ended 28 March 2024. The company said it expected this drop as a result of short-term availability issues as it transitioned to its new distribution centre and weaker performance of discretionary accessories. This…
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28 May
M&S and Next eye The Body Shop rescue deal
Both M&S and Next are reportedly considering launching rescue bids for the embattled retailer The Body Shop, as administrators get ready to launch an auction process. According to The Times, administrators FRP Advisory are reportedly “encouraged” after the high street firms expressed early interest in The Body Shop. The outlet…
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23 May
John Lewis Partnership to hire over 300 care experienced young people
The John Lewis Partnership has announced its ambition to hire more than 300 care experienced young people by January 2025 as part of its Building Happier Futures programme. The Partnership has hired around 76 people with Care Experience backgrounds through the Building Happier Futures programme. It said the new ambition…
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23 May
Games Workshop appoints new finance director
Games Workshop has announced that Elizabeth Harrison has been appointed as finance director subject to board approval. Harrison joined Games Workshop in March 2000 as a finance manager for the German sales business. She has had various roles within finance and business analysis within Games Workshop and has been the…
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21 May
The Works expects return to profit amid cost-cutting plans
The Works is anticipating a return to profit in its new financial year, having reported flat sales for FY24, following its relisting to AIM and further cost-cutting measures. In its latest trading update for the year ended 5 May 2024, revenues inched up by 0.9% to £282.6m, while total like-for-like…
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20 May
Victorian Plumbing Group acquires Victoria Plum for £22.5m
Victorian Plumbing, the bathroom retailer, has announced the acquisition by Victorian Plumbing Limited, a subsidiary of the company, of the entire issued share capital of AHK Designs Ltd, trading as Victoria Plum in a £22.5m deal. The acquisition of the online only bathroom retailer is on a cash free, debt…
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16 May
Miniso revenues rise 26% in Q1 amid worldwide expansion
Trendy lifestyle retailer Miniso has reported that revenues rose 26% to $515.7m (£406.9m) year-over-year in the first quarter ended 31 March. The group attributed its performance to the expansion of the Miniso brand’s retail footprint to a “significant” milestone of 6,630 stores worldwide as of the end of Q1. This…
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14 May
Greggs sales rise 7.4% to £693m in Q1
Greggs has reported that like-for-like sales rose 7.4% to £693m during the first 19 weeks of 2024, as it remains on track to open between 140 and 160 stores for the full year. The group also progressed its strategic growth plan, with delivery sales, evening trade and increased participation in…
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14 May
‘Police aren’t interested’ in tackling shoplifting, says M&S boss
Archie Norman, chairman of Marks and Spencer, has claimed that retailers should accept that “police aren’t interested” in tackling shoplifting on LBC’s breakfast show. He said: “We get very little help from the police. I think we have to accept that the police are not interested in this sort of…
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13 May
Retailers call for overhaul of ‘broken’ apprenticeship levy
Large retailers such as John Lewis, Tesco and M&S have called for the apprenticeship levy to be overhauled as the current system is “a complete waste of money”, This is Money has reported. It is understood that the retailers believe the rules around the apprenticeship levy limit them from using…
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