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 -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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23 December
Matalan sets January deadline for sale process
Matalan has announced that it plans to complete its sale process by the end of January 2023, after which a “comprehensive update to the market” will be provided, according to Drapers. The business said that, as of 15 December 2022, it had “received bids from a number of interested parties”.…
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22 December
Made.com board proposes vote on liquidation
The board of Made.com has formally proposed the winding up of the business through a voluntary liquidation process. In a statement to the London Stock Exchange (LSE), Made said this will enable liquidators appointed by the company to realise the company’s remaining assets pending completion of the administration of MDL…
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22 December
ASOS partners with Fashion Minority Report
Asos has announced its partnership with Fashion Minority Report (FMR), a business which aims to help fashion brands create inclusive workplaces and drive diversity across the industry. Through the partnership, Asos is supporting several of FMR’s projects that aim to help “emerging talented individuals from diverse backgrounds unlock their career…
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20 December
Shop prices surge to record highs
Shop Price annual inflation accelerated to 6.6% in October, up from 5.7% in September, according to the latest BRC and Nielsen tracker. This is above the three-month average rate of 5.5%, marking another record for shop price inflation since this index started in 2005. Food inflation accelerated strongly to 11.6%…
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