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 -11 July
Wren Kitchens launches apprenticeship programme amid expansion plans
Kitchen retailer Wren Kitchens has announced it is expanding its apprenticeship programme into the customer service sector to bolster its expansion plans. It comes as Wren has invested £120m into a hi-tech manufacturing facility in Barton-upon-Humber which stands at 1.3 million sq.ft. The retailer said it hopes this will “unlock…
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7 July
UK retail and hospitality to see £1.2bn boost during women’s Euros
The UK retail and hospitality sector are predicted to receive a £1.2bn boost during the Women’s UEFA 2022 European Championships (EURO 2022), according to new spending data by Voucher Codes. The competition is expected to bring 9.4m shoppers to retail stores across the whole competition, with a £898.2m predicted total…
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7 July
Footfall set to remain below 2019 for foreseeable future
Footfall is set to remain below 2019 levels for the “foreseeable future” as the cost of living crisis deepens and working from home becomes a permanent fixture, according to the latest Footfall Monitor and Insights from Springboard. Springboard found that footfall strengthened for the third consecutive month in June, with…
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6 July
Pro Cook profits surge 25% in FY22
Pro Cook has revealed its gross profits for the year end 3 April 2022 was £45m, up 25.5% from £35.9m over the same period in FY21. It also saw strong revenue growth of +29.5% to £69.2m (+78.0% vs FY20), and opened eight new stores during the year. Growth in its…
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5 July
Seasalt abandons sale plans
Fashion chain Seasalt has abandoned plans to find a buyer, despite reportedly being close to agreeing a deal with Next, according to The Times. The company had hired advisors to explore sale options. Along with Next, investment firm Davidson Kempner were reportedly interested, but Seasalt decided to scrap the deal…
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1 July
Boots sales jump 24% in Q3
Boots has announced like-for-like sales grew by 24% in the third quarter ending 31 May, while total sales rose by 13.5%, with the company reporting market share gains across “all major categories”. During the period, footfall increased by 45% compared to the prior year, boosted by “strong performance in flagships…
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1 July
Pret a Manger to expand into India
Pret has announced a new strategic partnership with Reliance Brands Limited (RBL) that will see it launch and build the brand in India for the first time. Following the long-term master franchise partnership, RBL will open the food chain across the country, starting with major cities and travel hubs. Pret…
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Jun- 2022 -29 June
Moonpig posts £51m profit for FY22
Moonpig has revealed adjusted profit before tax of £51.5m for the year end 30 April 2022, down 30.9% on its 2021 results, but up 55.2% on 2020. Meanwhile its group revenue was £304.4m, down 17.3% on 2021 but up 75.8% on 2020 figures. Adjusted EBITDA was down 18.7% to 74.9m,…
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29 June
Mulberry sees profits rise amid post-pandemic sales boost
Mulberry Group has reported that its revenues increased 32% to £152.4m compared with £115m in 2021, which it said reflects its strong recovery post pandemic. In its preliminary results for the 53 weeks ended 2 April 2022, Mulberry reported profits before tax reached £21.3m, up from £4.6m in 2021, however,…
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29 June
H&M Group profits surge amid high street resurgence
H&M Group has revealed its gross profits increased by 52.2% to £4.36bn in the six months to 31 May. Profits after tax increased by 33% to £390m in the second quarter, on the back of a 17% rise in sales to £4.47bn, excluding Russia, Belarus and Ukraine sales. Net sales…
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