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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Feb- 2023 -13 February
Paperchase unsecured creditors left with £20m bill
Paperchase’s unsecured creditors have been stuck with a £20m bill from its period in administration, according to The Times, after the company collapsed for the second time. The stationary retailer’s creditors have been notified that they will be receiving dividends of 2.52% from the sale of assets that has been…
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10 February
Watches of Switzerland falls short of expectations amid Christmas strikes
Watches of Switzerland has reported that its revenues increased 17% to £407m in the 13 weeks to January 29 this year, narrowly falling short of analysts’ consensus expectations of £425m. The company said its lower than expected sales growth was because of rail and postal strikes over Christmas and general…
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9 February
Boux Avenue and Ryman face ‘uncertainty’ over refinancing
Theo Paphitis Retail Group, the parent company of Boux Avenue, Ryman and Robert Dyas, has warned that some of its businesses face “material uncertainty” in the coming year, despite reporting a 5.5% growth in store sales in FY22. According to The Guardian, Ryman is struggling to refinance a £10m government-backed…
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9 February
Seasalt partners with Reskinned for new takeback and resale scheme
Seasalt has announced it has partnered with Reskinned, to launch a new takeback and resale scheme. As part of the scheme, Seasalt has committed to taking in old clothes from customers, repairing them, and reselling them on its website. Those that contribute to the scheme will be given up to…
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8 February
Wilko launches click-and-collect in UK stores
Wilko has launched a click-and-collect service that will be available in all of its UK stores. The introduction of this service comes as the company wants to find new ways to make it easier for customers to shop for the items they need. According to Wilko, the new service will…
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7 February
Victorian Plumbing appoints new CFO
Victorian Plumbing Group has revealed that Paul Meehan, the group’s chief financial officer, is set to step down and will be replaced by group director of finance Daniel Barton. Victorian Plumbing said that Meehans advised the board that he wishes to step down from his role on 31 March 2023…
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2 February
John Lewis customer director steps down amid role consolidation
John Lewis has announced it is consolidating its customer relations management, with Charlotte Lock taking on the newly created role combining its pan-partnership customer and capabilities teams. Lock takes over from Claire Pointon, who stepped down from the role of customer director. The John Lewis Partnership is bolstering its Customer…
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2 February
Return to office boosts weekday footfall in Jan
A return to the office has boosted footfall in January despite the effects of rail strikes over the month, Springboard has said, with footfall up by 10.7% against the prior year. This was greater than the annual uplift of 9.9% reported in December 2022 and marked the largest annual increase…
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1 February
H&M confirms regional UK store closures
Fast fashion retailer H&M has confirmed that it will be closing a number of stores across the UK in Burton, Hartlepool, Maidenhead and Newport on the Isle of Wight. The decision follows H&M Group’s financial results which indicated a 87% year-on-year fall in operating profit to £64.5m in the fourth…
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Jan- 2023 -31 January
Wickes sales grow 5.2% as energy-saving products provide boost
Wickes has announced that its like-for-like sales grew by 5.2% in Q4 up to 31 December, as it saw strong demand for energy-saving products such as loft insulation and draught excluders. Its “Do It For Me” like-for-like sales soared 34.5%, which helped total group sales increase by 11.5% in the…
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