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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Jan- 2023 -10 January
Card Factory ups FY guidance amid strong Xmas sales
Card Factory has raised its full-year guidance following a year of “good momentum” across the business, with sales boosted by a return to high street spending, particularly over the Christmas trading period. The group anticipates that EBITDA in FY23 will now be at least £106m, up from a previous guidance…
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9 January
Timpson rescues In-Time out of administration
Timpson has announced the acquisition of watch and jewellery repairer In-Time, which had collapsed in the days running up to Christmas. As part of the deal, the Manchester-based company has acquired 35 shops and taken on 110 new employees from In-Time. The value of the deal has yet to be…
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6 January
LCP Group acquires Gateway Retail Park
The LCP Group has announced it has acquired a Gateway Retail Park in Harwich, Essex – marking more than 20 retail acquisitions in 12 months. The group, which is part of M Core, the acquisitive commercial property collective that has invested more than £160m over 12 months in retail assets,…
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5 January
Wilko secures £40m in funding from Homebase owner
Wilko has reportedly secured £40m in funding from Hilco UK, the investor which owns both Homebase and Cath Kidston. According to the Financial Times, the details of the asset-based credit facility were filed with Companies House although they have yet to be fully disclosed. However, the outlet added it is…
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5 January
B&M sees Q3 revenues hit £1.56bn
Variety goods retailer B&M has announced Q3 revenues of £1.56bn, up from £1.39bn compared with last year, a 6% increase like for like. It said the strong revenues were driven by its UK dealings with B&M UK accounting for £1.3bn. B&M France had revenues of £136m and its other company…
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5 January
Next ups guidance amid strong Christmas sales
Next has increased its full year profit before tax guidance by £20m to £860m, as sales in the Christmas period have been “better than anticipated”. The retailer’s profit outlook has seen an increase of 4.5% compared with last year, following a 4.8% rise in full price sales in the nine…
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5 January
Greggs sales surge 23% in FY22
Greggs has announced that its FY22 sales were £1.5bn, an increase of 23.0% compared with the equivalent period in 2021 (£1.2bn). During the 52-week period, like-for-like sales in company-managed shops were 17.8% higher than sales seen in 2021, with fourth quarter like-for-like sales in company-managed shops growing by 18.2%. It…
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4 January
Matalan lenders close in on takeover deal
A group of investors who have lent hundreds of millions to Matalan are closing in on a deal to take over the company, according to reports from Sky News. Senior lenders, including big names such as Invesco and Man GLG, could agree a deal in the next two weeks which…
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3 January
Low retail sales growth expected in 2023, says BRC
Retail sales are estimated to grow between 2.3% to 3.5% in 2023, according to new analysis by the British Retail Consortium. The past year has been characterised by low retail sales growth which has remained below current inflation, suggesting volumes were down compared to 2021. The trend is expected to…
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Dec- 2022 -23 December
Superdry secures £80m loan amid strong H1 sales
Superdry has revealed it has secured a new three-year financing facility of up to £80m that won’t expire until December 2025, as part of a trading update which also saw its group revenues surge 3.6% YOY. For the 26-week period ended 29 October 2022, the retailer’s ecommerce revenue also increased…
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