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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Mar- 2022 -1 March
Footfall rises 11% as weather improves
Footfall rose by +11.1% across all UK retail destinations last week from the week before, when it dropped by -3.8%, according to Springboard. The company said this uplift emanated from a bounce back in footfall on Friday and Saturday when footfall averaged +43.3% higher than the week before, “helped by…
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Feb- 2022 -23 February
New report indicates extent of high street challenge, says Bira
A report released by PwC about a study on how the high street is fairing shows how “challenging the high street continues to be”, according to The British Independent Retailers Association (Bira). The report, released this week, highlighted how store closures for chains and multiples slowed versus the last two…
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21 February
Matalan founder Hargeaves loses 20-year court battle over tax bill
Matalan founder John Hargreaves has lost a long-running court battle with HMRC as he attempts to avoid a tax bill that may reach up to £135m. He has now been ordered to pay the tax bill after the Upper Tier Tribunal ruled he owes Capital Gains Tax in relation to…
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15 February
Universal Works debuts London showroom
Universal Works, the Nottingham-based fashion brand, has announced it has launched its first dedicated showroom in the heart of London’s Camden Town, in a commercial property deal advised on by local law firm Nelsons. Along with three standalone stores, the team has now taken on a space at Holborn’s Emerald…
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15 February
UK footfall rises for fifth consecutive week
Across UK retail destinations, footfall rose by +2.2% last week from the week before, with increases in each of the three destination types, according to Springboard. Footfall rose in all types of town centres, with the largest rise of +7.1% in regional cities outside of London versus +3.3% in Central…
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14 February
Boots bidders given end of month deadline
Prospective bidders for Boots reportedly have until the end of the month to submit their first-round bids in a £7bn auction of the business, The Times reported over the weekend. According to the paper, Boots UK CEO Sebastian James has been meeting with prospective bidders this week alongside advisers at…
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11 February
Poundland to open biggest ever UK site
Poundland is set to open its biggest ever UK store in Nottingham this week, which will offer its widest range of products yet. The new Nottingham Riverside retail park site will open on 12 February. It stands at 15,000 square feet, making it the largest Poundland store to be opened,…
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8 February
NICCE to open first physical store in spring
Nicce has announced the opening of its flagship store on Carnaby Street in spring 2022, marking the first physical flagship store for the brand. The London store comprises 1,400 square feet of space spanning across two floors, and the space will reportedly host a variety of events and customer activations,…
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8 February
Consumer spending slows in January
Consumer card spending rose by only 7.4% in January compared to the same period in 2020, marking the smallest uplift since April 2021, as spending was dampened by ongoing Plan B restrictions, inflation, and rising energy costs. Data from Barclaycard found that spending on essential items grew by 10.4%, the…
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7 February
Private equity firms circle THG
Private equity firms Advent International and Leonard Green are exploring a buyout of the struggling online retailer The Hut Group, according to The Sunday Times, with executives from Advent understood to have visited THG’s offices in Manchester. The news comes as shares in THG jumped 16% on Friday. Sources close…
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