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 -16 May
Tapestry sees Q3 net sales hit £1.17bn
Tapestry, the owner of luxury accessories and lifestyle brands including Coach, Kate Spade, and Stuart Weitzman, has seen its net sales total £1.17bn for the third quarter compared to £1.04bn in the prior year, representing a 13% increase. It also revealed gross profits of £826m for the third quarter of…
Read More » -
16 May
Walgreens snaps up £4bn dividend from UK arm
Walgreens Boots Alliance has reportedly extracted more than $5.3bn (£4.3bn) of dividends from its UK holding companies. According to The Sunday Times, the Boots owner snapped up the dividends despite taking “hundreds of millions” of pounds of government support during the pandemic. Boots’ UK-based parent company, Superior Holdings, paid out…
Read More » -
13 May
Pandora invests $100m into new crafting facility
Pandora has signed a memorandum of understanding to build a new jewellery crafting facility in Vietnam which will see the company invest $100m (£81.9k) to support its long-term growth. Construction is set to begin in early 2023 and production is due to start by the end of 2024. It will…
Read More » -
12 May
Bloom & Wild unveils first ever retail pop-ups
Bloom and Wild has announced it will host a series of pop-up shops for the first time, available from 26 May to 10 July. The pop-ups will be located across London, Bristol and Edinburgh, and they will allow customers to purchase both botanical items and homeware. Following the concept of…
Read More » -
12 May
Covent Garden announces raft of new retail openings
Capital and Counties Properties PLC has announced a number of new brands to the Covent Garden estate, including TAG Heuer, Chestnut Bakery, Empresa, Parfums de Marly and Vuori. French Haute Perfumery, Parfums de Marly will be opening within the Market Building later this year. Additionally, Southern California-inspired premium performance brand,…
Read More » -
10 May
Cost of living crisis begins to hamper consumer spending
Spending on essential items dropped to 18.1% in April, compared to 17.4% in March, as inflation and rising living costs are starting to impact the retail sector. Research from Barclaycard found this was largely due to spending on fuel falling from a record 26.1% increase last month to 23% in…
Read More » -
9 May
Shop owners to be forced to rent out empty premises
Shop owners in England could be forced to let out premises that have been vacant for over a year, under new plans from the government. The plans are set to be unveiled as part of the Levelling up and Regeneration Bill, expected to be unveiled in the Queen’s speech on…
Read More » -
9 May
West End landlords Shaftesbury and Capco consider £3.5bn merger
The Boards of Shaftesbury PLC and Capital and Counties Properties PLC (Capco) have confirmed they are in advanced discussions regarding a possible £3.5bn all-share merger of the two companies. Under the proposed terms of the possible merger, Shaftesbury’s shareholders, excluding the Shaftesbury shareholding owned by Capco, will own 53% of…
Read More » -
6 May
Footfall drops again in April
Footfall in UK retail destinations dipped once again in April 2022, falling to -15.9%, down from a decline of -15.3% in March 2022, according to the latest figures from Springboard. It said that the month was “salvaged” by Easter in the second week, when footfall rose by +9.1% from the…
Read More » -
6 May
Sports Direct opens £10m Birmingham flagship
Sports Direct is opening its latest flagship store in the heart of Birmingham with a 60,000 square feet concept space that has seen an investment of over £10m. Located on New Street, Sports Direct Birmingham is set across four floors and it will be the first flagship to house USC,…
Read More »
