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 -7 September
WH Smith buoyed by travel as high street sales take hit
WH Smith expects that full-year trading will be in line with expectations in FY22, as a rebound in its travel business helped mitigate weaker sales across the high street. Total revenue surpassed 2019 levels at 112% in the half-year ended 27 August 2022, while Travel was “comfortably in excess of…
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7 September
Sony announces new product manager for BRAVIA portfolio
Sony has announced Christopher Mullins as its new product manager for the professional Bravia portfolio. He will lead Sony’s campaign in Europe to deliver new partnerships with key solution providers and expand Sony’s presence in its core corporate, education and retail markets. Mullins has been with Sony since 2008 joining…
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5 September
Ted Baker sees revenues increase amid stronger store sales
Ted Baker Group has revealed that its revenues for the 14-week period to 29 July 2022 was up 3.4% compared with Q2 FY22, but down 28.3% compared with Q2 FY20. According to the retailer, this was led by “stronger in-store performance, partially offset by continued disruption from re-platforming adversely affecting…
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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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