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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Apr- 2023 -21 April
CBI hit with second rape allegation
The CBI is facing a second allegation of rape from a woman who claims she was assaulted by two male colleagues. According to the latest report from The Guardian, the offence took place at one of the CBI’s overseas offices and comes following reports of an alleged rape at a…
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21 April
Poundland owner sees revenues rise 23% in H1
Pepco Group, the owner of Poundland, has welcomed “encouraging” results in its second quarter and first half of trading despite ongoing inflationary pressures in the market. Group revenues in H1 rose by 22.8% year-on-year to €2.8bn (£2.5bn), driven by strong Pepco growth of 36.9%. In addition, like-for-like revenues were up…
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20 April
WH Smith revenues soar 41% amid rebound in travel
WH Smith has welcomed a strong performance in the first half of the year, with revenues rising by 41% to £859m, in part boosted by strong momentum in its Travel division, where revenues were up by 75% against the prior year. The group’s global Travel business benefited from a “significant”…
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13 April
BRC calls for business rates freeze amid Labour’s high street rescue plan
The British Retail Consortium has responded to Labour’s five-point plan to revitalise high streets by calling for a permanent freeze on business rates. Leader Sir Keir Starmer revealed the party’s high streets policy during a local election campaign visit to Great Yarmouth and said that the Labour government would “boost…
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11 April
Footfall surges 18.6% on Good Friday
Good Friday footfall (up to 5pm) has provided a welcome boost to retailers as it surged by 18.6% compared with the previous week, according to a new report by Springboard. The footfall in high streets was 26% higher than the previous Friday by 5pm and 8.5% higher than the week…
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11 April
UK retail sales jump 5.1% in March
Total retail sales in the UK were up 5.1% in March according to data from the British Retail Consortium and KPMG. This is above the three-month average growth of 4.8% and the 12-month average growth of 2.6% for the five weeks between 26 February and 1 April. Like-for-like retail sales…
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11 April
Poundstretcher eyes stock market listing
Poundtsretcher is reportedly eyeing a floatation on the stock market, The Mail On Sunday has reported. According to City sources, the discount retailer has hired advisers to explore a potential listing after the business welcomed strong sales during the pandemic. The Mail said it was “not yet clear” if the…
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10 April
Wilko collapses into administration, 12,000 jobs at risk
High street homeware retailer Wilko has collapsed into administration, putting around 12,000 jobs at risk. In an open letter confirming the news, CEO Mark Jackson said the business had left “no stone unturned” in an attempt to keep the business afloat but has conceded it has “no choice but to…
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6 April
Footfall falls 2.8% in March
March delivered an unexpected shock for retailers as footfall across all UK retail destinations dropped by -2.8% compared with February, according to the latest data from MRI Springboard. Springboard said it is the first month-on-month decline for March since it started publishing data in January 2009, except for 2018 (Beast…
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3 April
The Fragrance Shop to open flagship store on London’s Oxford Street
The Fragrance Shop has confirmed it is to open a brand new flagship global experiential store on Oxford Street later this summer. The move will mark the first time the UK independent fragrance retailer will open a flagship shop in London. The 2,300 sq ft location will feature a prominent…
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