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.
-
Jul- 2023 -21 July
Wilko owners explore potential sale
The owners of Wilko are reportedly exploring a potential sale of the chain in a bid to rescue the group’s future, Sky News has reported. Advisors are now said to be seeking out potential buyers, with sources telling Sky that a “large number” of large general merchandise chains have been…
Read More » -
19 July
Small businesses to be offered rent-free stores on Oxford Street
Westminster City Council has partnered with New West End Company to launch a new programme called Meanwhile On: Oxford Street, which is encouraging applications from up-and-coming businesses that are looking to launch their first physical space. Meanwhile On: Oxford Street will offer “substantial” support by providing a six month tenancy…
Read More » -
17 July
DFS hits FY23 profit guidance amid record market share
Furniture retailer DFS has announced that it has hit its profit guidance of just over £30m for the year ended 25 June 2023. DFS stated that it hit this target despite the market being “significantly worse than expected”. The company’s gross margin rate continued to improve supported by freight costs…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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…
Read More » -
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%…
Read More » -
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…
Read More »
