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 -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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10 May
WHSmith reveals 17 new Toys R Us locations
WHSmith has announced that it will open 17 Toys R Us shops over the summer months across the UK. The retailer is set to open a further 30 shop-in-shops before Christmas after the launch of nine Toys R Us concessions a year ago. The 17 locations opening in the summer…
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10 May
Shoplifting cases fall 2% from ‘record’ high
Some 26% of retailers have reported experiencing customer theft in 2023, showing that shoplifting cases have dropped from a “record” high of 28% in 2022, according to an ONS survey. This comes despite countrywide reports of a spike in shoplifting and cases of customers abusing staff. A prior ONS report,…
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7 May
The White Company profits dip 1.3%
The White Company has revealed that its profit before tax fell slightly from £32.6m down to £32.2m for the 52 weeks ended 29 July 2023. However, the company’s underlying profit for the year, excluding exceptional items, rose 4% to £33.5m, up from £32.3m the previous year. Alongside this, the company’s…
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7 May
The Fragrance Group sees 6.1% rise in LFL sales
The Fragrance Shop has hailed “exceptional” end-of-year results for the 12 months to 1 April 2024 with a 6.1% like-for-like sales increase and overall continuing business growth of 9.4%. Among many of the brands in its portfolio, Barbour increased by 55%, Versace grew by 48% and Jean Paul Gaultier by…
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7 May
Retail sales fall 4% in April
UK total retail sales decreased by 4% YOY in April, against a growth of 5.1% in April 2023, according to the latest BRC-KPMG Retail Sales Monitor. This was below the 3-month average growth of 0.5% and the 12-month average growth of 2.2%. However, when correcting for the distortion created by…
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3 May
Retailers face slow start to Spring as footfall declines 7.2% in April
Retailers experienced a slow start to Spring as total UK footfall decreased by 7.2% in April (YoY), down from -1.3% in March, according to the latest figures from the BRC. However, the BRC revealed the figures were slightly distorted due to the earlier Easter which led to tough comparables. High…
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3 May
Mango to open 20 more UK stores by year’s end
Mango has announced it will continue its expansion and brand consolidation plan in the UK with more than 20 store openings by the end of 2024. This particular expansion will see the fashion retailer focus on its presence in London and Scotland, as well as setting up shops in Northern…
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2 May
Lounge Underwear PBT falls 33% amid focus on store openings
Lounge Underwear has reported that pre-tax profits dropped 33% to £5.5m during the year ended 30 June 2023, as the retailer focused on expanding its brick and mortar presence. The group’s pre-tax loss comes despite sales increasing 6% to £67.9m, as its active customer base also rose 20% across all…
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2 May
Pandora raises revenue guidance amid 18% organic growth
Pandora has raised its revenue guidance to “8-10%”, up from 6-9%, following 18% organic growth in Q1 2024 with like-for-like (LFL) growth of 11% and network expansion of 5%. The group stated that continued momentum, helped by the early restaging of the brand and increased investments are elevating brand desirability…
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