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 -1 May
Iolla unveils JV partnership opportunities across the UK
Scottish eyewear brand, IOLLA, has today (1 May) announced the launch of a joint venture partnership model as part of its business growth strategy to scale the independent brand nationwide. This comes as the company’s online platform, which ships to over 40 countries, has been the target of investment, which…
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Apr- 2024 -30 April
Card Factory profits soar 25% amid strong store trading
Card Factory has welcomed a strong year of trading, as pre-tax profit soared 25% to £65.6m in FY24, largely boosted by its store performances.Over the period, revenues rose by 10.3% to £510.9m, with total store revenue up by 8.7%, including contribution from 26 net new store openings during the year.…
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29 April
Monsoon Accessorize profits fall amid ‘difficult trading’
Monsoon Accessorize has seen its EBITDA fall 18% to £20m for the year ended 26 August 2023. The company stated that trading remained “difficult” despite pressures easing causing the profit drop. Group sales for Adena Brands, parent company of Monsoon Accessorize and East. fell 4% down to £248m. Despite this,…
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26 April
The Portman Estate boosts retail, leisure and cultural offer
The Portman Estate has signed five diverse new brands to boost Edgware Road, Marble Arch and the west side of Portman Marylebone’s retail, leisure and cultural offer. Moco Museum is joined by Maculara, ZULA Burger, WatchHouse Coffee and Mandy Zhang Art, highlighting the Estate’s “ongoing commitment to developing its balanced…
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25 April
WH Smith revenues rise 8% in H1 amid travel boost
WH Smith has reported that total revenues rose 8% to £926m in the six months ending 29 February, largely boosted by sales in its travel division, which rose by 13%. Although high street trading profits dipped to £22m, down from £24m last year, travel profits rose from £47m to £50m. …
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24 April
Primark appoints three to advisory board
Primark has appointed Martin Brok, Sona Chawla and Christophe Roussel to its advisory board, according to sources. The trio will work alongside Paul Marchant, Primark CEO and outgoing finance director John Bason. The news follows Associated British Foods announcement of Bason’s departure and the launch of a “newly constituted” strategic…
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24 April
Pret co-founder returns amid board shakeup
Pret a Manger has announced that its co-founder Sinclair Beecham will return to the company in an advisory role as it reshuffles the makeup of its board. Olivier Goudet, who has been chairman since JAB’s acquisition in 2018, will step down and be replaced by his colleague Konrad Meyer. Meyer…
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23 April
Primark launches click and collect amid soaring profits
Primark has revealed that it is launching a new click and collect service to all of its British stores by the end of 2025. It comes as its parent company Associated British Foods (ABF) saw its pre-tax profit jump 37% to £881m for the 24 weeks ended 2 March 2024.…
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19 April
Wilko relaunches click and collect
Wilko has relaunched its free click and collect service having successfully completed concept store trials in Exeter, Luton and Plymouth. Customers can use the service from reopened stores and from over 200 collection points via its collection partner, The Range. The company is continuing its store roll out programme with…
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17 April
Matalan welcomes 17 new third-party brands
Matalan has expanded its range by launching 17 new third-party brands within womenswear, menswear, kidswear, homeware and gifting, as well as extending the range of sizes available across hundreds of lines. Among the new brands are Mountain Warehouse, Regatta, BRITBAG Luggage, Threadbare, Brave Soul and ToeZone. In addition, with the…
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