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.
-
May- 2022 -24 May
H&M unveils new Braehead store
H&M has announced the opening of its new store at Braehead shopping centre, a retail and leisure destination, under the ownership of property company SGS and assets managed by Global Mutual Properties. H&M has relocated from its former unit to a new ground floor space, spanning 17,000 square feet, on…
Read More » -
24 May
Harrods appoints chief financial officer
Harrods has appointed Tim Parker as its new chief financial officer for the group. He joins Harrods following 10 years at Jardin Matheson, where he held a range of senior finance leadership positions across Hong Kong and Malaysia for the diversified Asia-focussed group. Originally qualifying as an accountant with PwC…
Read More » -
23 May
Ted Baker selects preferred bidder as Sycamore backs out
Ted Baker has announced it has selected a preferred counterparty to buy the business as US Private equity firm, Sycamore, has officially backed out of acquiring the fashion retailer. The company said it is moving forward into a process of confirmatory due diligence, which is likely to take several weeks. …
Read More » -
20 May
The Works warns of trading slowdown despite ‘strong’ FY22
Arts and crafts and book retailer The Works has warned it has experienced a slight slowdown in recent trading due to the cost of living crisis, despite reporting a “strong” FY22 performance. In a trading update for the 52 weeks ended 1 May 2022, the retailer revealed it was trading…
Read More » -
20 May
Retail sales rise by 1.4% in April
Retail sales volumes rose by 1.4% in April 2022 following a fall of 1.2% in March 2022, with sales volumes 4.1% above their pre-coronavirus February 2020 levels. In the three months to April 2022, sales volumes fell by 0.3% when compared with the previous three months; this continues the downward…
Read More » -
19 May
French Connection launches own rental service
Global retailer French Connection has become the first major fashion brand to launch an on-demand rental service for latest-season stock in the UK. French Connection Rental will allow customers to rent individual pieces from its current collection, and will not require a subscription. The service will be powered by rental-as-a-service…
Read More » -
19 May
M&S warns chancellor of potential ‘damage’ of online sales tax
Marks and Spencer has penned a letter to the chancellor warning of the potential damage an online sales tax would have on the high street. It comes as the government’s consultation on whether to implement such a tax closes on Friday (20 May). The government said the idea behind the…
Read More » -
17 May
Shaftesbury acquires £27.5m Soho leasehold
Shaftesbury has announced that it has acquired a 200 year ungeared leasehold interest in Soho for £27.5m, allowing the creation of 11 new units for new retailers and F&B concepts, all of which will be available from autumn 2022. Located on the lower floors of 92-104 Berwick Street, the portfolio…
Read More » -
16 May
Jollyes unveils manager for new Stirling store amid recruitment drive
Jollyes has named the manager for its latest store in Stirling as recruitment for new colleagues gets underway. The new store at Unit 3 Burghmuir Retail Park in Stirling will open in mid-June and employ 12 colleagues. Jollyes has recruited Angela Rennie, who has worked for leading retailers including Home…
Read More » -
16 May
Post-Covid UK Footfall recovery worsens
Footfall in UK retail destinations declined by -0.7% last week from the week before, a consequence of drops in footfall in both retail parks (-1.8%) and shopping centres (-2.3%) whilst in high streets footfall rose modestly by +0.7%. This meant that the gap from the 2019 footfall level widened to…
Read More »
