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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Jul- 2021 -22 July
17,000 high street stores could open this year, says Barclays
Some 17,000 local high street stores could open within the next 12 months, as customers reportedly “adapt to a post-lockdown world by looking local”, according to Barclays Corporate Banking. Its research found that consumers have returned to physical stores with “confidence” since restrictions began to ease. Some 68% say they…
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21 July
Next upgrades profit guidance
Next has revealed it is raising its profit guidance for the rest of the year after beating its expectations for full price sales, with a rise of 19% in the last 11 weeks compared with figures posted two years ago. The fashion retailer said it originally assumed an increase of…
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20 July
The Works welcomes ‘resilient’ FY performance despite sales hit
The Works has announced that total revenue fell by 19.7% to £180.7m in the year ended 2 May 2021, down from £225m the year before, as the group was affected by ongoing store closures amid the national lockdowns. Nonetheless, the group said it welcomed a “resilient” performance, with store like-for-like…
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19 July
Footfall set to spike amid ‘Freedom Day’
Footfall across the UK is set to rise by 19.7% this week in the wake of ‘Freedom Day’, according to the latest data from Springboard. It comes as restrictions are set to be lifted in England from today (19 July) onwards. According to Springboard, whilst the removal of restrictions in…
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16 July
Eve Sleep revenue rises 13% in H1
Eve Sleep has announced that for the six months ended 30 June 2021, group revenue increased 13% to £13.9m, up from £12.2m the previous year. The growth was primarily seen through its online sales, with a “softer” performance from retail partners, reflecting lockdown restrictions over the first quarter as well…
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16 July
Poundland owner welcomes ‘resilient’ trade in Q3
Pepco, the owner of Poundland, has welcomed a period of “resilient trading” in its third quarter, with the group revealing a like-for-like sales increase of 37.3% and 21.1% respectively for both its Pepco and Poundland brands. Total group revenue also increased 30.3% over the same period, rising to €1.043m (£8.9m). …
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14 July
John Lewis and Waitrose to axe 1,000 jobs across stores
The John Lewis Partnership has announced that John Lewis and its sister company Waitrose are set to cut 1,000 job roles across its stores. The redundancies are set to affect roles across 34 John Lewis and 331 Waitrose stores, and form part of a widespread restructuring of the company. Operations…
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14 July
Administrators appointed to wind up Arcadia Group
Mazars has been appointed as liquidators of Philip Green’s collapsed retail empire Arcadia Group -with the group looking to “repay key creditors”, including HMRC. Arcadia, which operated numerous high-street brands across the UK and globally, including Topshop, Burton and Dorothy Perkins, fell into administration towards the end of last year,…
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13 July
Hotel Chocolat raises profit forecast amid sales boom
Hotel Chocolat has anticipated that its underlying pre-tax profit for FY21 will be “higher than its previous expectations” amid a period of rising sales for the group. The revised expectation comes as the retailer’s post-close trading update reported a revenue increase of 21% to £165m for the full-year ended 27…
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12 July
Cath Kidston appoints new CCO
Cath Kidston has announced that Suzanne Egleton has been appointed as chief commercial officer (CCO) in a newly created role for the brand that oversees all revenue channels of lifestyle retailers. Egleton is a seasoned digital leader with experience in global fashion and lifestyle brands, with her most recent roles…
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