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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Jan- 2022 -20 January
WH Smith shareholders rebel over CEO bonus
WH Smith has seen its shareholders rebel over its plans to pay its chief executive Carl Cowling a £550,000 bonus, with 46% of the votes at its AGM cast against its remuneration report. The bonus is to go ahead after it received 54% approval, however when taking into account those…
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19 January
WH Smith sales remain below pre-Covid levels
WH Smith has announced that its revenue remains below pre-pandemic levels for the 20 week period ending 15 January 2022, with the total group revenues at 85% of 2019 levels for the same period. In travel UK, revenues came in 70% of 2019 levels for the 20 week period, with…
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18 January
Hotel Chocolat sees Q2 revenues jump 37%
Hotel Chocolat, the British chocolatier and omni-channel retailer, has revealed it saw group revenues increase 37% during the 13-week period ended 26 December 2021. It said that total group revenue for H1 has also been “strong”, increasing 40% compared to the prior year, and by 56% compared to the equivalent…
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17 January
Issa brothers eye Boots takeover
The Issa brothers are reportedly eyeing a takeover of high street giant Boots, which would see the Asda owners acquire more than 2,000 pharmacies and stores across the UK. According to the Mail on Sunday, the acquisition of the £10bn business is believed to have been discussed at a senior…
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14 January
Card Factory sees recovery with online sales up 23.3% to £22.2m
The Card Factory has reported recovery to pre-Covid levels as its online sales increased 23.3% in the 11 months to 31 December 2021 (FY22) to £22.2m on a two year basis, with cardfactory.co.uk revenue increasing by 130.3% and gettingpersonal.co.uk revenue declining 11.4%. Cardfactory.co.uk revenues also increased by 1.1% on the…
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14 January
Currys lowers profit expectations to £155m amid 10% drop in sales
Currys has lowered its full year pre-tax profit expectations from £160m to £155m following a 10% drop in sales in the 10 weeks ending 8 January 2022, as a result of “unven” consumer demand and supply disruptions. In the UK and Ireland (UK&I), like-for-like revenues in the quarter decreased by…
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13 January
M&S raises profit forecast to £500m
The Marks and Spencer Group (M&S) has raised its full year pre-tax profits forecast to £500m, following an 18.6% year-on-year rise in total UK sales for the 13 Weeks ending 1 January 2022. The group’s clothing and home sales surged 37.7% and food sales increased by 10%, with sales excluding…
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13 January
Nutrigums agrees Superdrug partnership
Vitamin gummy brand Nutrigums has announced the launch of its wide range of gummy vitamins into the national health and beauty retailer, Superdrug. Nutrigums, a plant-based gummy supplement brand, said it’s on a “mission to become the UK’s go-to for everyday support for a range of wellbeing needs and ailments,…
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12 January
Games Workshop HY profits fall to £88.2m
Games Workshop Group PLC has announced its pre-tax profits dropped by 3.71% year-on-year from £91.6m to £88.2m, according to its half-year results for the six months ending 28 November 2021. The group’s operating profit is also down by 3.8% to £88.5m, compared to £92m for the same period in 2020.…
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12 January
Bain Capital and CVC eye Boots takeover bid
Buyout firms Bain Capital and CVC Capital Partners have reportedly joined forces in an attempt to launch a takeover bid for high street chemist Boots. According to Sky News, Bain and CVC are assembling a joint bid and are said to have hired advisers from Lazard to help put a…
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