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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Nov- 2023 -3 November
October washout sees footfall drop 5.7% in October
Footfall decreased 5.7% in October as wet weather negatively impacted consumers’ willingness to visit UK highstreets, according to the latest data from MRI Springboard. It found that high street footfall decreased by 4.6% in October (YoY), down from -1.7% in September. Meanwhile, retail parks experienced a 4.3% decline, down from…
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Oct- 2023 -30 October
Cake Box appoints new chairman
Cake Box has announced the appointment of Martin Blair, currently non-executive director, as its new chairman. The appointment of Blair follows a thorough recruitment process carried out by the board over the last few months during which a number of external candidates were interviewed. Blair will succeed Nilesh (Neil) Sachdev…
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27 October
Standalone Wilko stores to return to high street this year
Standalone Wilko stores are set to return to the high street and retail parks across Britain, including Northern Ireland for the first time, as new owner The Range prepares to roll-out the brand once again. Five stand-alone concept stores will now open before Christmas 2023, and the first two locations…
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25 October
ScS sales dip 0.4% below FY22 levels
ScS revealed that its sales were only 0.4% below the prior year for the 52 weeks ended 29 July, ending FY23 with a cash balance of £69.5m compared with £70.8m last year. The group also reported that gross margins were 1% lower than the prior year at 44.4% due to…
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23 October
Claire’s to relaunch new-look loyalty programme
Claire’s has announced the relaunch of its more than 18 million member loyalty programme under a new name and brand identity – C.CLUB, following the success of the brand’s existing global programme. The reimagined club is created for and by customers, providing increased benefits, faster ways to earn rewards and…
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20 October
Frasers ups Asos stake again to 23%
Frasers has again upped its stake in Asos to 23%, as it continues its investment in a number of UK fashion retailers. Frasers has increased its holding in the online retailer a number of times throughout this year and currently holds 27,473,492 Total number of voting rights. It tops a…
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18 October
New Look losses widen to £88m despite healthy revenues
New Look has suffered a statutory loss before tax of £87.8m in its full-year results, down from £25.5m in FY22, despite total revenues increasing to £844.7m in the period, up from £839.6m last year. The group’s gross margin also increased 2.7% in the year to 45.8% due to considered price…
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16 October
Next acquires FatFace for £115.2m
Next has signed terms to acquire FatFace for £115.2m, which will be partly settled in cash and by the issue of the retail group’s shares and management equity rolling over into the new structure. According to Next, the transaction will not materially impact the group’s underlying profit before tax or…
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12 October
Hotel Chocolat revenues fall 10% in FY23
Hotel Chocolat has reported that revenue fell by 10% to £204.5m in the year ended 2 July, due to lower sales online and internationally. UK revenues also dropped by 8% year-on-year, which the group maintains is in line with market expectations. That said, the group did experience an 8% year-on-year…
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11 October
BRC backs Labour shoplifting stance
The British Retail Consortium (BRC) has backed the Labour party’s stance on shoplifting and violence against retail staff. Sir Keir Starmer announced at the Labour party conference that it intends to create a specific new offence of assault against retail workers. The party also announced its intention to roll back…
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