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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Nov- 2022 -24 November
Dr Martens profits fall 5% after growth investment
Dr Martens has recorded a 5% fall in pre-tax profits to £57.9m during the six months to September 30, while EBITDA was flat year on year at £88.8m. The business sold 6.3m pairs of boots, shoes, and sandals, up 400,000 on an underlying basis compared with the same period of…
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23 November
Dreams provides £5m cost of living support package for staff
Bed retailer Dreams has announced that it is providing support for its staff during the cost of living crisis, starting with a £5m package as part of its “people first strategy”. The company plans to advance a pay raise that was due in April 2023 to December 2022. The pay…
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23 November
M&S tops YouGov’s best UK brand poll
M&S has been ranked as the UK’s best brand in YouGov’s annual Global Best Brand Rankings. The rankings are based on the index score from the YouGov Brand Index, which is a comprehensive measure of overall brand health calculated by taking the average of impression, quality, value, satisfaction, recommend, and…
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23 November
Joules makes senior director redundancies following administration
Joules has reportedly made a series of redundancies across its senior positions, a week after the announcement that the group had fallen into administration. According to Retail Week, the retailer‘s channels director Rimal Patel and brand and creative director Chloe Ward have both left the business, while CFO officer Caroline…
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22 November
Footfall sees Black Friday lull amid cost of living crisis
Footfall across UK retail destinations rose by a modest +1.6% last week from the week before, driven mostly by high streets (+1.7%) and shopping centres (+2.4%) whilst footfall in retail parks remained largely level from the week before (+0.5%), according to Springboard. Springboard said that this indicates “reservation” in consumers…
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21 November
Wilko in talks for £30m lifeline
Wilko is in talks to secure a £30m cash injection as cost pressures intensify in the run-up to Christmas, according to the Sunday Times. The news comes as the chain retailer was unable to agree to an extension of its revolving credit facility due to interest rate hikes. It employs…
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17 November
Uniqlo to open Covent Garden store
Uniqlo has announced it will open a new store in Covent Garden as it continues its expansion across the UK. The Covent Garden site will be its 17th store opening in the UK, following the Battersea Power Station store last month. It is located with entrances on Long Acre and…
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16 November
Alpha Tauri enters UK market with London flagship
AlphaTauri, the fashion retailer owned by Red Bull, has continued its global expansion plans with the opening of a London flagship store in Knightsbridge. It is its first fully-owned store in Britain and marks the company’s entry into British brick-and-mortar retail. The 326m2 store on Brompton Road showcases the latest…
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16 November
Card Factory ups guidance after ‘stronger than expected’ trading
Card Factory has upped its FY23 guidance after “stronger than expected” trading in the second half of the year, with full-year EBITDA now expected to be £96m, up from a previous guidance of £88.8m. According to the retailer, this EBITDA would approximate to profit-before-tax of £37.5m for the period. Its…
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15 November
Primark launches click and collect service in 25 stores
Primark has unveiled the trial of a new click and collect service that will allow customers to shop for products online and order for delivery to one of the 25 locations available. It is reported that this trial is available across the north west of England, Yorkshire and north Wales,…
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