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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Sep- 2022 -28 September
Gymshark poaches Asos CFO
Gymshark has announced that Mat Dunn is to join as its new chief financial officer (CFO), effective early 2023, who joins from his role as CFO at Asos. He will be replacing outgoing CFO Philip Daw, and is the latest in a recent spate of senior appointments at Gymshark, following…
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28 September
Boxpark to open first site outside London in Liverpool
Boxpark, a retail, dining and leisure group, has announced its sixth site and first Boxpark-branded development in Liverpool, set to open in 2023. Boxpark has agreed a 15-year lease with Terracotta Asset Management Limited for The Canning Hall site in the south of Liverpool city, which sits within the Baltic…
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27 September
Matalan announces new CEO as sales process begins
Matalan has announced the appointment of Nigel Oddy as interim CEO of Matalan Retail Ltd as the company begins a strategic sales process, joining the business initially on an interim basis, with effect from 3 October 2022. Oddy has significant retail experience in senior leadership roles, most recently at New…
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27 September
Card Factory sales soars as high street business rebounds
Card Factory has welcomed revenue growth of 4.1% in its half-year results, following “good momentum within the business” as well as a “shift of customer spend back towards the high street and reversal of lockdown effects”. As customers returned to the high street, store revenue soared by 81.8% in the…
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26 September
Footfall set to plummet in lead up to Christmas
Springboard has forecast that footfall across all UK retail destinations will decline on a month to month basis by -4.9% in September, by -2.5% in October and by -0.3% in November, but it will then increase from November to December by +6%. It predicts this period to eradicate the gains…
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23 September
The Works revenues rise by 46.5% in FY22
The Works has welcomed “strong” financial results in FY22 and made strategic progress as the group’s total revenue reached £264.6m for the 52 weeks ended 1 May 2022, spelling an increase of 46.5% in revenues against the prior year. It is reported that the group’s profit before tax also hit…
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23 September
Consumer confidence plummets to record low in September
UK consumer confidence has plummeted to a record low of -49% in September, the lowest since 1974, according to the latest research from GfK. It comes amid the cost of living crisis as households struggle with soaring energy bills and inflation. Four measures were down in comparison to the 19…
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22 September
Gymshark delays Regent Street flagship opening
Gymshark has pushed back the opening of its flagship Regent Street store to 29 October, citing “mitigating circumstances”, having originally announced it would open on 1 October. The flagship will host customers, schools/universities, press, athletes, and guest speakers, with the ability to hold anywhere from single digit to 30 people…
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20 September
Kingfisher sees profits drop 30%
Kingfisher has seen its profits fall 30% during the first half of the year ending 31 July, after reporting pre-tax profits of £474m compared with £677m at the same stage last year. The firm also saw sales fall by 4.1% on a like-for-like basis to £6,809m, although the home improvements…
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16 September
DFS profits fall as cost of living sees sales soften
DFS has revealed that its reported profit before tax has almost halved to £58.5m, down from £102.6m, as rising inflation negatively impacted its supply costs and dampened demand for its products. In its preliminary results for the 52 weeks ended 26 June 2022, it revealed that revenue from continuing operations…
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