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 -27 January
Store Vacancies fall to 13.8% in Q4
The overall vacancy rate improved to 13.8% in the fourth quarter of 2022, which was 0.1 percentage points better than Q3 and 0.6 percentage points better than the same period last year, according to the latest BRC/LDC monitor. This was the fifth consecutive quarter of falling vacancy rates. All locations…
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25 January
Furniture Village names new MD amid Board reshuffle
Furniture Village has strengthened its board of directors with several senior appointments from within, including founder Peter Harrison taking on the position of executive chairman, and his son, Charlie Harrison taking on the position of managing director. This follows on from the recent exit deal from its external shareholders BGF,…
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24 January
Sosander announces partnership with Sainsbury’s
Sosandar has announced that it has entered into an agreement to sell a curated collection of its products through Sainsbury’s. Through this wholesale agreement, a selected range will begin to be sold through Sainsbury’s during 2023, initially online only, with selected stores planned later this year as Sainsbury’s increases its…
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23 January
Waterstones profits rise by £40m in FY22
Waterstones has seen its profit-before-tax rise to £42.1m in the year to April 2022, up from £2.9m the prior year and £19.7 in FY20, as customers returned to the high street. The bookseller also reported that full-year revenues soared 73% to £399.8m, as Covid-related restrictions came to an end. Although…
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23 January
The Works hails ‘resilient’ sales amid 5.7% jump
The Works has revealed it has seen a strengthening in trade since the end of its first half, with like-for-like sales increasing by 5.7% in the 11 weeks ended 15 January. The retailer also saw strong performance in-store where sales rose by 9.7%, although online sales declined by 14%, which…
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20 January
Mamas & Papas appoints new CEO ahead of global expansion
Mamas and Papas, the high street nursery brand, has announced chief operating officer Nathan Williams as its new CEO to lead the company’s next phase of growth, which it said would include expansion into new and existing international markets. Current CEO Mark Saunders, who joined the business three years ago…
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20 January
Argos to close all Irish operations
Argos has announced that it will shut all of its 34 stores in the Republic of Ireland at the end of June in 2023. The company, owned by Sainsbury’s, has said its operations in Northern Ireland, or the rest of the UK, will not be affected by the decision. It…
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19 January
Dunelm sales surge 18% in Q2
Dunelm has revealed that its total sales reached £478m in Q2, which was 18% higher than in the same period last year and an increase of 48% compared with pre-pandemic levels. For the period ending 31 December 2022, the group attributed its performance to customer demand for its Autumn and…
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19 January
Boohoo revenues drop 11%
Boohoo has revealed its revenues dropped 11% to £637.7m in the three months to 31 December, in line with the online fashion retailer’s previous guidance. UK revenues declined by 11% year-on-year while international revenues fell by 10% after trade was “impacted by extended delivery times compared to pre-pandemic levels”. Boohoo…
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18 January
WH Smith revenues up 41% amid strong travel sales
WH Smith has seen total revenues rise by 41% over the 20 week period ending 14 January 2023, with revenues also up by 20% against its pre-pandemic trading results as travel sales picked up. The group attributed its “strong” performance to its UK travel business, which saw total revenue increase…
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