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 -30 September
JD Sports and Nike announce connected partnership
JD Sports has announced that it has been selected as Nike’s first European retail partner for its connected partnership, designed to “enhance the shopping experience of customers through access to an additional range of Nike member-exclusive products and experiences”. Nike’s connected partnership offers JD’s customers, starting in the UK, access…
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29 September
Co-op pre-tax profits fall to £7m
The Co-op has revealed its group pre-tax profits fell 84% to £7m in the first half of the year as it was impacted by “challenging market conditions”. It also revealed that underlying operating profit was down £33m to £18m. The firm said that in “very challenging markets” it delivered a…
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29 September
H&M profits hit by Russian exit
H&M has announced pre-tax profits of SEK 689m (£56.5m), down from SEK 6.09bn (£220m) a year prior, in the group’s fiscal third quarter from 1 December 2021 to 31 August 2022. It said its results were impacted by a one-time cost of SEK 2.1bn (£76.1m), related to the winding down…
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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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