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- 2022 -15 December
H&M full-year sales up 12% to £17.7bn
H&M has announced its provisional sales increased by 12% to £17.7bn, for the full-year period from 1 December 2021 to 30 November 2022. Excluding Russia, Belarus and Ukraine the increase was 15% in SEK and 8% in local currencies. Net sales in the fourth quarter period from 1 September 2022…
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14 December
Footfall rises marginally as cold snap impacts performance
Footfall across UK retail destinations rose marginally last week (Dec 5-12) by +0.3% from the week before, with a varied performance across the three key destination types, according to Springboard. It found that shopping centres were boosted by their ability to offer shelter from the elements, as footfall rose by…
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14 December
Zara owner sales rise 19% in Q3
Inditex, the parent company of Pull and Bear, Zara and Bershka, saw its sales reach €23.1bn (£19.8bn) in the third quarter this year. This was a 19% increase on the same period last year, while sales in constant currency grew 20%. This comes as traffic and store sales increased over…
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13 December
Sosander sees 72% increase in FY23 H1
Sosander has announced net revenues of £21m in H1 FY23 ended 30 September, a 72% increase against the same period in the prior year (£12.2m). The growth was split equitably between own site and third party partners. It also reported its gross margin at 54.4% (H1 FY22: 56.5%) signifying a…
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13 December
Pepco to accelerate expansion plans as revenues hit €4.8bn
Poundland owner Pepco has announced that it will accelerate its expansion plans after it posted revenues of €4.8bn (£4bn) for the year ended 30 September 2022. The discount retailer stated that it planned to have a greater focus on new stores in Western Europe and a refit programme in Central…
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12 December
Monsoon sales rise 43% in FY22
Monsoon saw its sales rise 43% to £258m and a strong gross margin performance of 5.3% that helped double the group’s EBITDA to £24.4m, a rise of 132%, for the financial year ended 31 August 2022. The fashion retailer’s results come as its like-for-like sales grew 105%, thanks in part…
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8 December
The Body Shop global retail director steps down
The Body Shop global retail director Linda Campbell has stepped down from the health and beauty retailer, according to Retail Week. She is understood to have left the ethical beauty specialist at the end of November, despite taking up the position at the start of the year. Campbell joined The…
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7 December
MusicMagpie sees revenues drop to £144.8m
Music Magpie, who specialises in refurbished consumer technology, has announced its full-year revenue for the group will be £144.8m, down from £145.5m in 2021, for the full year ended 30 November 2022. It also revealed that EBITDA will be “in line” with management’s expectations. Net debt at 30 November 2022…
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6 December
Footfall rises 5.4% amid ‘cause for optimism’
Footfall rose by +5.4% across all UK retail destinations last week from the week before, with increases across all three key destination types (+6.9% in high streets, +4.8% in shopping centres and +3% in retail parks), according to Springboard. Springboard said this offers a “cause for some optimism” for retailers…
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5 December
CBI downgrades growth forecast to -0.4% amid ‘lacklustre outlook’
CBI has downgraded its GDP growth outlook significantly, to -0.4% in 2023 (from 1.0% in its last forecast), after a “turbulent year both politically and economically”. It said the reason behind the latest change is that the economy is likely to have fallen into a recession in Q3 2022, and…
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