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.
-
Feb- 2024 -22 February
Taxpayers to foot bill for Body Shop redundancies
Taxpayers are set to pay millions of pounds to laid off staff at The Body Shop as the restructuring of the collapsed chain gets underway, The Telegraph has reported. Employees who have lost their jobs have reportedly been told to make claims through the government-backed redundancy payments service, which is…
Read More » -
16 February
NWEC calls for return to tax-free shopping as tourist spending gap widens
The New West End Company (NWEC) has called for the return of tax-free shopping as the gap between the number of international visitors in London and the spending associated with them widened in the final quarter of last year. According to the latest figures released by NWEC, despite a recovery…
Read More » -
15 February
Poundland to refurb 150 stores
Poundland has announced that it is set to commence refurbishments on 150 stores set to be completed by August this year. The ‘Project Evo’ transformations will see each of the stores get a top-to-bottom refresh to bring them up to date. The refresh will be the first significant investment in…
Read More » -
14 February
Intimissimi opens new store on Kensington High Street
Oniverse Group, formerly known as Calzedonia Group, has announced the expansion of the Intimissimi brand in the UK with the opening of a new store on Kensington High Street, West London. The new store, which is located at 123a Kensington High Street W8 5SF, joins the existing eight locations within…
Read More » -
13 February
Wet weather sees footfall slump 5.2%
Heavy rain and snow across some parts of the UK saw footfall drop 5.2% across all retail destinations when compared with the previous year, according to the latest data from MRI Springboard. Footfall declined 7.9% in high streets with many office workers choosing to work from home where possible, with…
Read More » -
9 February
EE opens new Gateshead store amid £6m investment
EE has announced the opening of its latest Experience store in Gateshead, the fourth of 10 planned openings. The announcement comes as EE commits to investing £6m in the British high street in the next 12 months. The company has launched new store formats including its flagship Studio store in…
Read More » -
9 February
Waterstones pre-tax profits plummet amid tech issue
Waterstones revealed that pre-tax profits fell to £11.2m in the year ending 29 April 2023 from £50.6m reported last year, as a technical issue led to a backlog of orders from bookshops. Waterstones has attributed its performance to a technical issue at its central distribution, following the introduction of a…
Read More » -
5 February
Jeremy Hunt to review tourist tax ahead of Budget
Chancellor Jeremy Hunt has reportedly asked the Office for Budget Responsibility to look at whether the scrapping of VAT-free shopping for tourists should be reversed, delivering a much-needed boost to Britain’s retail and leisure sectors, according to The Sunday Times. The Office for Budget Responsibility (OBR) has been asked to…
Read More » -
1 February
M Core acquires Princes Square in Glasgow
Commercial property and investment collective, M Core, has announced its acquisition of the Princes Square retail development in Glasgow city centre for an undisclosed sum. Princes Square, occupying a prime position on Buchanan Street, has been “widely acknowledged” as the UK’s best retail centre outside of London. The 118,625 sq…
Read More » -
Jan- 2024 -30 January
Pets at Home lowers guidance despite Q3 revenue jump
Pets at Home has lowered its underlying profit before tax guidance to around £132m despite the fact its group revenue rose to £362.4m for the 12 weeks ended 4 January 2024, a 4.2% increase on last year. The pet retailer also revealed its consumer revenue rose 6.0% last year and…
Read More »
