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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Dec- 2023 -15 December
Naked Wines H1 sales fall 20% as losses widen
Naked Wines total revenues fell by 20% to £132.3m during the six months ended 2 October, while its pre-tax losses widened to £9.7m from £200k a year earlier. The results come as the retailer’s revenues dropped in all markets, which it attributed to a reduction in repeat customer sales. However,…
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5 December
Marks and Spencer extends Christmas trading hours
Marks and Spencer has announced that it has extended its Christmas trading hours from 18-22 December with more than 400 stores open from 6am until 10pm. Additionally, a number of stores will also be open until 10pm on 23 December and 4pm on Christmas Eve for last minute Christmas shoppers.…
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4 December
Lush CEO blames govt for high street decline
Lush CEO Mark Constantine has attributed the decline of the high street to the Conservative government’s decision to cut council finances, The Times has reported. Constantine told The Times that high streets in Britain are “deserted” due to more local councils being pushed into a state of bankruptcy by a…
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4 December
Jollyes owner mulls £100m sale
The owner of Jollyes, private equity firm Kester Capital, is considering a sale of the pet retailer for around £100m, according to reports from The Times. City sources told The Times that Kester Capital, is working with financial advisors at Houlihan Lokey on “strategic options” for the business. Jollyes currently…
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1 December
Early signs of footfall recovery ahead of festive trading, BRC finds
The retail sector experienced early signs of footfall recovery in November as total UK footfall decreased by 0.7% in November(YoY), an improvement on -5.7% in October, according to the latest data from the BRC. High Street footfall decreased by 1.7%, an improvement on -4.6% in October, whereas Retail Parks again…
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Nov- 2023 -30 November
Jollyes HY sales jump 31% to £70m
Jollyes has revealed that it posted sales of £70m for the 26 weeks ended 27 November 2023, up 33% from the £54m it posted in the same period last year. Furthermore, in the period the company posted like-for-like sales of 19%, up from the 17% like-for-like number Jollyes achieved in…
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29 November
Halfords HY profits jump 3.3% to £19.3m
Halfords has revealed that it posted profit before tax of £19.3m for the 26 weeks ended 29 September, up 3.3% from the £18.7m it posted in the same period last year. Overall, Halfords saw its revenue jump 13.9% from £767.1m in the first half of last year to £873.5m in…
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28 November
Pets at Home maintains guidance despite fall in H1 profits
Pets at Home has maintained its profit guidance despite seeing underlying pre-tax profits slump 19.3% to £47.8m during the first half of the year ended 12 October. The retailer attributed the fall in profits to the costs associated with the relaunch of its brand and transition of stores to the…
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27 November
Mountain Warehouse to open 50 stores in 2024 amid record revenues
Mountain Warehouse has revealed it will be opening a new branch every week in the run up to Christmas and 50 more stores next year, as it aims to ramp up its expansion plans. It comes as its revenues increased 22.6% to £371m in the year ending February 2023 amid…
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24 November
Mothercare PBT improves despite sales slide
Mothercare has revealed its profit before tax improved to £2m for the 26 week period ending 20 September, despite seeing total worldwide retail sales fall 15% to £137.2m. The company also reported that, excluding franchise partners, it reported turnover of £29m, down from £38m the previous year, while group adjusted…
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