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 -30 July
One in seven UK shops still remain vacant, BRC reveals
More than one in seven shops on UK high streets, retail parks and shopping centres are currently vacant, according to the latest data from the Local Data Company and the British Retail Consortium (BRC). The data revealed that fashion stores were amongst the “hardest hit” as customers primarily shifted to…
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29 July
NI to boost high street spending with £100 voucher
Northern Ireland economy minister Gordon Lyons has announced a £145m scheme that will give everyone aged 18 and over a prepaid card worth £100 to spend on their local high street. It is planned that the registration process will open to the public this September. Lyons stated that the new…
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29 July
Mothercare losses widen to £21.4m
Mothercare has reported a wider pre-tax loss of £21.4m for the full-year ended 27 March 2021. Turnover also plummeted 47.9% to £85.8m, down from £164.7m the previous year, largely due to the continued impact of Covid-19 on trade in the key markets of Russia, India, Indonesia and Malaysia. Looking ahead,…
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29 July
Pets at Home sees sales soar to £377.8m
Pets at Home has seen its first quarter revenues grow 25.7% to £377.8m as the retailer continues to witness a “strong sales momentum”. In the 16 weeks to 25 July, the retailer saw like-for-like revenue up 30.2%, or 29.4% on a two-year basis, which it said reflected “continued strong growth…
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28 July
PMI closes entire IQOS high street portfolio
Global tobacco company Philip Morris International has reportedly closed the entire UK portfolio of its recently opened IQOS shops. According to The Times, some 16 IQOS sites had been launched across the UK, with Philip Morris, owner of the group, claiming in June 2019 that hundreds more would follow. The…
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28 July
Shop prices decline will ‘not last forever’, BRC warns
Shop prices have continued to decline in July, but the lowering of prices may “not last forever” in the wake of Brexit, according to the latest BRC-Nielsen Shop Price Index. Shop price deflation accelerated to 1.2% year-on-year over the month, compared to June’s decrease of 0.7%. According to the BRC,…
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27 July
Superdry opens new flagship store on London’s Oxford Street
Superdry has announced that it has agreed a deal to open a global flagship store on London’s Oxford Street this Autumn. The store is located at 360 Oxford Street, close to Selfridges and adjacent to the new Bond Street Crossrail station, which is due to open in early 2022. Totalling…
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26 July
Pepco to create 13,000 European jobs
Pepco Group, the owner of discount retailers Poundland and Dealz, has revealed plans to add 13,000 staff members across its European operations over the next three years. Andy Bond, chief executive at the group, told Reuters that the majority of jobs would come on the continent as Pepco looks to…
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23 July
Consumer confidence surpasses pre-pandemic levels
Consumer confidence increased to -7 this month, according to GfK’s Consumer Confidence Index, which is ahead of pre-pandemic levels previously reported. The index measuring changes in personal finances over the last year was -1, an increase of three points against July 2020, while the forecast for personal finances over the…
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23 July
Ted Baker moves HQ to Fitzrovia
Ted Baker has announced plans to move to a new headquarters in central London. The fashion brand has signed a 10-year lease with Westminster City Council, with rent of £900,000 and plans to move to the new building in Fitzrovia, London next summer. The move will allow the group to…
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