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 -22 September
Gymshark delays Regent Street flagship opening
Gymshark has pushed back the opening of its flagship Regent Street store to 29 October, citing “mitigating circumstances”, having originally announced it would open on 1 October. The flagship will host customers, schools/universities, press, athletes, and guest speakers, with the ability to hold anywhere from single digit to 30 people…
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20 September
Kingfisher sees profits drop 30%
Kingfisher has seen its profits fall 30% during the first half of the year ending 31 July, after reporting pre-tax profits of £474m compared with £677m at the same stage last year. The firm also saw sales fall by 4.1% on a like-for-like basis to £6,809m, although the home improvements…
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16 September
DFS profits fall as cost of living sees sales soften
DFS has revealed that its reported profit before tax has almost halved to £58.5m, down from £102.6m, as rising inflation negatively impacted its supply costs and dampened demand for its products. In its preliminary results for the 52 weeks ended 26 June 2022, it revealed that revenue from continuing operations…
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15 September
Mothercare profits hit £12m in FY22
Mothercare has revealed that the group’s profit for the 52 weeks to 26 March 2022 reached £12.1m, compared to its loss of £21.5m in the previous financial year. The group has also reported that its international retail sales reached £385.3m, which is just under last year’s total of £358.6m. The…
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14 September
Dunelm reveals FY profits surged 34.9% to £212m
Dunelm has revealed its profit before tax for the 53 weeks to 2 July 2022 has risen 34.9% to £212.8m from the same period in FY21. Total sales reached £1.5bn, up 18.4% YOY, while diluted earnings per share rose 32.9% to 83.6p. Among the highlights were a homewares market share…
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13 September
Hotel Chocolat closes US online store
Hotel Chocolat has announced it has closed its online shop in the United States, ceasing direct-to-consumer sales in the country. The retailer has closed all of its in-country warehouses and fulfilment arrangements. It comes after Hotel Chocolat had previously announced that investment levels in the USA will be “materially reduced”,…
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12 September
DFS announces new chair
DFS Furniture has announced that Steve Johnson will succeed Ian Durant as chair at the conclusion of the annual general meeting on 4 November 2022. Johnson joined the board in December 2018 and is currently the chair of the remuneration committee. He has retail experience having previously held several senior…
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12 September
Wilko restructures rent payments ahead of Christmas
The discount retailer, Wilko, is reportedly making changes to its rent payment schedule, according to The Sunday Times, as the brand looks to “conserve cash” in the run-up to Christmas. The news comes as retailers are experiencing unprecedented cost pressures, with Wilko citing supply-chain volatility and inflation as major concerns.…
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9 September
The Entertainer to partner with Tesco
Toy retailer, The Entertainer, has announced a partnership with Tesco to open branded concessions in around 35 Tesco stores across the country. The trial partnership will offer Tesco customers the chance to shop The Entertainer’s range of products from leading brands such as Barbie, Lego, Marvel and Paw Patrol. Gary…
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8 September
Gymshark to open Regent Street flagship
Gymshark has announced that it will open the doors of its flagship store at 165 Regent Street on 1 October 2022. Some of the key features include “the sweat room”, an interchangeable sweat studio operating from the store, which will offer a rotating programme of classes for the Gymshark community.…
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