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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May- 2022 -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…
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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…
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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…
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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…
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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…
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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…
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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…
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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,…
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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…
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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…
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