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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Jul- 2023 -13 July
Poundland owner reports positive growth of 12.5% in Q3
Pepco Group, the owner of Poundland, has reported that third quarter revenues hit €1.37bn (£1.17bn), up by 12.5% year-on-year, with Poundland revenues up by 8.6% despite a “challenging” trading environment. Poundland delivered a particularly strong trading performance in Q3, driven by consumers prioritising spend on FMCG items, with like-for-like revenues…
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12 July
June footfall sees highest increase since 2009
High inflation and rising interest rates did not impact consumer activity across UK retail destinations last month, according to Springboard, who reported both the highest month-on-month and annual increases in footfall for June in any year since 2009. Footfall rose by +3.7% over the month from May to June, against…
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12 July
Shoezone ups profit guidance again after strong June sales
Shoezone has announced that it expects its profit for the year ending 2 October 2023 to be no less than £13.5m after strong June sales. The company stated that sales exceeded expectations due to “continued strong demand with volumes up double digits on last year”, despite no price increases on…
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10 July
Primark to hire 100 staff ahead of Salisbury opening
Primark has begun a recruitment drive for 100 new team members ahead of its new store opening in Salisbury this September. The 29,700 sq ft store will be set across two floors in the Old George Mall in the city centre, in the former BHS unit. The retailer will be…
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7 July
Virgin Wines agrees strategic partnership with WH Smith
Virgin Wines has announced it has signed a new strategic partnership with WH Smith Travel which will see it stocked in a number of stores. The company said the agreement represents “significant progress” for Virgin Wines as part of the group’s strategic focus on commercial partnerships. An exclusively curated range…
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7 July
Heatwave dampens June footfall
Footfall fell -1.9% in the five weeks from 28 May to 01 July 2023 as hot weather meant that shoppers strayed from the high street, according to BRC-Sensormatic IQ data. The fall was worse than the three-month average increase of -1.1% and comes as high street footfall increased by 0.6%…
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5 July
Naked Wines appoints former founder as chair, delays FY results
Naked Wines has announced the appointment of founder and former CEO Rowan Gormley as its new chairman. The wine retailer also announced a delay to the release of its full-year results that were set to be released on 6 July but said it expects FY EBIT to come in at…
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Jun- 2023 -30 June
WH Smith to not open any more high street stores
WH Smith chief executive Carl Cowling has told the BBC that the retailer will not open any more UK high street stores, instead focusing on UK airports and train stations, as well as openings in the US and European markets. This comes as, over the past 20 years, the retailer…
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28 June
ProCook revenues fall 9.9% in FY23
Kitchenware brand ProCook has revealed that total revenues fell by 9.9% to £62.3m in the year ended 2 April, with like-for-like revenues declining by 10.7% year-on-year following outperformance by the group last year. The group attributed its performance to gross profit margins being held back by higher supply chain costs…
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27 June
Hot weather fails to tempt shoppers as footfall drops by 2.3%
The recent hot and sunny weather failed to tempt shoppers last week, as footfall across all UK retail destinations fell by -2.3% against the week before, according to new data from MRI Springboard. This was a “sharp” contrast with the week before last, when footfall rose by an average of…
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