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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Jan- 2024 -29 January
Retail accounted for 19% of 2023 UK administrations, study finds
The retail sector accounted for 19% of administrations in 2023 – the highest industry in the UK, according to analysis by full-service law firm Shakespeare Martineau. A total of 1,641 businesses, 239 of which came from the retail sector, filed for administration last year – marking a 22% increase compared…
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26 January
WH Smith sees strong start to year as Travel sales rise
WH Smith has delivered a strong performance in the 20 weeks ended 20 January, with total revenues up by 8%, largely boosted by its Travel division. Across its global Travel divisions, the group welcomed continued momentum since the start of the financial year. In Travel UK, total revenue was up…
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23 January
Storm Isha dampens early week footfall
Battering winds from Storm Isha hit retail over Sunday and Monday with footfall across all UK retail destinations down -4.6% on the week previous and down -5.1% on 2023 levels, according to the latest data from MRI Springboard. Against 2023 levels, footfall on UK high streets slumped by -14.4% on…
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22 January
John Lewis warns staff could face smaller pay rises
John Lewis has reportedly warned staff that they may face smaller pay rises under new salary policies as it continues its turnaround strategy, according to The Telegraph. The outlet reported that the John Lewis Partnership is consulting on the changes that it believes would allow for more “flexibility” and allow…
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18 January
The Works losses widen to £7.8m amid ‘challenging’ market conditions
The Works has fallen to a pre-tax loss of £7.8m in its half-year results, following a period of “persistently challenging” market conditions. In the half-year ended 29 October, the retailer reported a pre-IFRS 16 adjusted EBITDA loss of £8.5m, widening from a loss of £6.4m the prior year. However, it…
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17 January
Poundland to begin refurbishing 11 former Wilko stores
Poundland has announced it will begin a major makeover of 11 former Wilko stores in the next few weeks, after acquiring Wilko stores in the administration process. The first former Wilko stores to be refurbished will be located in Leigh, Peterlee and Ammanford, with the work due to be completed…
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16 January
Wilko unveils two new store locations for spring
Wilko will be opening two new stores in St Albans and Rotherham in spring this year, with exact timings to be determined, along with news of further openings. The news comes as the national roll-out of the company’s stores post-rescue continues across England, Scotland, Wales and Northern Ireland. The stores…
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16 January
Card Factory hails strong Christmas trading
Card Factory has revealed total sales for the 11 months ended 31 December 2023 increased 10% to £476.9m after it was boosted by strong Christmas trading. The card retailer said that LFL store revenue jumped 7.8% in November and December, driven by the increased number of transactions and increased average…
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10 January
ProCook revenues rise 3% over Golden Quarter
ProCook has revealed that total revenues over the third quarter increased by 3% year-on-year to £23.1m. While the kitchenware retailer’s total like-for-like revenues dipped by 0.4% over Black Friday and Christmas, its performance was better than the declines of 7.9% and 1.8% in the first and second quarters. The retailer’s…
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9 January
Cotswold Outdoor owner to boost in-store efficiency
O&CC, the owner of brands Cotswold Outdoor, Snow and Rock and Runners Need, plans to complete a full chain rollout of the cloud-based platform Pricer Plaza as a way to boost in-store efficiency and its customer experience. The rollout follows news that the clothing and activewear retailer deployed Electronic Shelf…
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