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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Jul- 2022 -22 July
Transitional relief could cost retailers over £1bn, BRC warns
Retailers have warned that the failure to fix the “flawed” Transitional Relief system could cost the industry over £1bn between 2023-2026, and it will reportedly force shops which are most impacted by artificially inflated rates bills to close, according to the British Retail Consortium (BRC). The BRC is calling for…
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20 July
Superdrug signs 200+ brands to new health & beauty marketplace
Superdrug has signed over 200 brands to the upcoming launch of Superdrug’s Marketplace, its new platform which will see brands partner with Superdrug to offer their products through the service for the first time. The platform is set to launch in September, with brands, from premium to start-ups, continuing to…
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19 July
In The Style profits soar 22%
In The Style Group has revealed its gross profit grew 22% to £25.2m for the year ended 31 March 2022, compared to £20.6m in 2021. Meanwhile group revenues increased by 28% to £57.3m, and direct-to-consumer revenue grew by 23% to £44.7m. The company said its revenue growth was driven by…
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18 July
Footfall drops as heatwave hits UK
Footfall across UK high streets are down -7.3% on last week as the country experiences a heatwave, according to Springboard. However, high streets in coastal towns have seen a surge of footfall, rising by 9.0%. The largest drop was seen in greater London, which was down -13% across high streets…
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18 July
Next workers underpaid following payroll errors
Next workers have been underpaid for “months” after a series of payroll errors from the retailer, according to The Sunday Times. The problem reportedly arose after a misstep with the company’s new Oracle payroll system in February. There were also deductions of some staff pension contributions without investment into retirement…
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15 July
Burberry revenues hit by China lockdowns
Burberry has revealed its Q1 global comparable store sales increased just 1%, from £479m to £505m, after being impacted by lockdowns in mainland China. Excluding Mainland China, comparable store sales grew 16%, while EMEIA comparable store sales grew 47%. The brand reported double-digit comparable growth in leather goods and outerwear…
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14 July
Brunello Cucinelli H1 revenues jump 32% to £351m
Casa di Moda Bruno Cucinelli has revealed net revenues of €415.2m (£351m) for the first half of 2022 ending June 30, up +32.3% at current exchange rates (+28.3% at constant exchange rates) compared to H1 2021. The fashion house reported significant growth in all areas: Americas +52.7%, Asia +27.2%, Europe…
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13 July
IKKS Paris opens second London store
French fashion and lifestyle brand IKKS Paris has opened a second UK store on King’s Road, deepening the brand’s entry into the UK following the flagship store at 3 Carnaby Street. The 1,300 sq ft store opens at 109 King’s Road and carries the womenswear, and junior lines with menswear…
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13 July
Justmylook debuts first flagship store
Online beauty retailer Justmylook is due to make its debut in physical retail, with the opening of its first store this Wednesday. The store is located in Brighouse, West Yorkshire. Fashioned in a light industrial theme accentuated with feature lighting, the space will be home to over 40 brands, from…
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12 July
Joe Browns appoints new CEO
Joe Browns, the home and fashion retailer, has announced that Peter Alecock will join its board as chief executive officer. He joins from JD Sports Fashion PLC where he held the role of chief operating officer of the retailer’s fashion division having worked for the company for 16 years. It…
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