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 -1 September
Battersea Power Station confirms 14 October opening date
Battersea Power Station has confirmed it will open its doors to the public for the first time from Friday 14 October 2022. Electric Boulevard, a new pedestrianised high street, which runs from the south of the Power Station, between Frank Gehry’s Prospect Place and Foster + Partners’ Battersea Roof Gardens…
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1 September
Footfall recovers in August despite cost of living crisis
Footfall has strengthened across UK retail destinations in August 2022 to -13.2% below 2019 compared with -14.2% in July 2022, after it had weakened from -12.3% in June 2022, according to Springboard’s Footfall Monitor. The “unexpected turnaround” covering the four weeks 31 July to 27 August saw footfall strengthened in…
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Aug- 2022 -30 August
Joules deal with Next in danger after share price tumbles
Joules’ hope of securing an investment lifeline from Next has taken a blow after reports suggest that the two companies are still not close to coming to an agreement, according to Sky News. The news comes three weeks after it the companies first confirmed they were in discussions. Joules’ valuation…
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30 August
Store closures drop to lowest rate in seven years
Store closures have stabilised to the lowest rate in over seven years, with 6,146 store closures in H1 2022 (-30%) year-on-year from multiple retail operators, compared to 3,888 openings (+11%). According to PwC’s latest Store Openings and Closures report for H1 2022, there were 34 closures, 21 openings, and a…
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25 August
Cambridge Satchel Company acquired by Chargeurs
The Cambridge Satchel Company has announced it has been sold to French textile company Chargeurs for an undisclosed sum. Created in 2008 by Julie Deane and her mother, Freda Thomas, the British firm designs, manufactures and distributes a range of leather bags, satchels and accessories, employing over 60 people. Deane…
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24 August
Oxford St footfall up 24% as international travel begins to return
Footfall levels on London’s Oxford Street continued on an upward trajectory in July 2022, up 24% from the previous month, according to RSM UK’s analysis of the latest data from Datscha. Footfall as a whole increased 16% in July 2022, compared to the previous month. As well as London, Leeds…
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23 August
Frasers to open 3 new Flannels flagship stores
Frasers Group has announced plans for three more Flannels flagship stores, which will see it open stores in Leeds, Cardiff, and Gateshead all upwards of 80,000 sq. ft in size. The announcement closely follows the opening of Flannels’ Liverpool flagship, which is the largest store opening to date and, largest…
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22 August
Hargreaves enters new fight with lenders to secure Matalan’s future
John Hargreaves, the founder of Matalan, is preparing for a new fight with its lenders over its ownership ahead of a deadline for refinancing £350m in debt, according to Sky News. Hargreaves reinstated himself as chairman of Matalan last month, and has since injected tens of millions of pounds into…
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19 August
TK Maxx owner’s sales hit by ‘historical’ inflation
TK Maxx owner, The TJX Companies, has revealed net sales for the second quarter of Fiscal 2023 ended July 30 2022 decreased 2% to $11.8bn (£9.9bn). It comes as US sales fell by 3.2% to $9.1bn (£7.5bn), Europe and Australia net sales dropped 1.5% to $1.5bn (£1.24bn), while Canada net…
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17 August
Boohoo makes strategic investment into Revolution Beauty
Boohoo has announced that it has recently made a strategic investment into Revolution Beauty Group plc amounting to a direct interest of 7.1% of Revolution Beauty’s issued share capital. The investment builds upon the existing relationship between Boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several…
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