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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Apr- 2022 -27 April
Coca Cola Q1 revenues hit £8.37bn
The Coca-Cola Company has reported its revenues surged 16% to $10.5bn (£8.37bn) in the three months ended 1 April 2022 (Q1 FY22), with 18% growth in organic revenues. Operating income also grew 25%, which included a six-point currency headwind, driven by “strong” organic revenue (non-GAAP) growth across all operating segments,…
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27 April
May deadline set for Boots takeover bids
A deadline of May 16 has been set for final bids for Boots, according to Sky News. The company’s owner Walgreens Boots Alliance (WBA) issued the deadline as it looks to offload the business as economic issues threaten its valuation, with the price tag currently standing at up to £7bn.…
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26 April
Footfall declines 7% in post-Easter slump
Footfall across UK retail destinations declined by -7% last week from the week before, with a drop of -10.2% in shopping centres, and -6.9% in retail parks, according to Springboard. High streets however benefited from activity on Easter Sunday which meant that the drop in footfall was more modest at…
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25 April
Reebok owner enters race to buy Ted Baker
Authentic Brands Group (ABG), The US-based brand licensing empire which includes Reebok and a controlling stake in David Beckham’s consumer goods stable, is reportedly considering a takeover bid for Ted Baker, according to Sky News. The company, valued at almost £10.1bn, was among several parties exploring the possibility of a…
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21 April
Card Factory agrees on revised £150m refinancing
Card Factory has confirmed it has completed a £150m refinancing of the group, as it continues to take action to reduce its £79m debt. The financing includes a £100m revolving credit facility (RCF), which is available until September 2025; a £11.25m term loan facility; a £18.75m term loan facility, to…
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20 April
Footfall rises in lead up to Easter, but drops during weekend
Footfall during the period from Monday (11 April) to Thursday (14 April) leading up to Easter rose from the week before by an average of +15%, with a rise of +21.9% on Thursday and +27.3% in UK high streets, according to retail experts Springboard. However, across Easter weekend itself (Friday…
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12 April
Retail sales slow as consumer confidence wanes
Total sales increased by 3.1% in March, dropping below the three-month average growth of 6.9% and the 12-month average growth of 10.3% as customer confidence waned amidst the cost of living crisis, according to the latest BRC-KPMG sales monitor. UK retail sales decreased 0.4% on a like-for-like basis from March…
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11 April
Scotch & Soda to open London flagship store amid global expansion
Scotch and Soda has announced it will open a flagship store in London, amid a global expansion which will see the brand open a total of 20 new brick-and-mortar stores globally over the next six months. Scotch and Soda will launch its third brick-and-mortar address in London this summer. The…
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8 April
Selfridges unveils ‘shop of the future’ concept store
Selfridges has announced its new “shop of the future” concept, ‘Supermarket’, a four-week retail experiment at The Corner Shop in its Oxford Street store. By experimenting with new ideas and models, Selfridges said it “will examine future shopping habits, with the aim of opening a conversation around consumption and physical…
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7 April
Springboard warns of ‘calm before the storm’ as March footfall improves
Footfall strengthened noticeably in March to -15.3% below 2019, a bounce from -20.7% in February 2022, according to Springboard. Footfall improved in all three destination types, but high streets “particularly” benefited with an improvement of around a third to -17.4% below 2019 from -26.2% in February, overtaking shopping centres where…
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