High Street news and archive

Sir Philip Green launches ‘radical review’ of Arcadia

Retail tycoon Sir Philip Green has called in advisers from Deloitte to launch a ‘radical review’ of Arcadia, as the fashion group risks losing 100 stores when their leases come to an end in late 2020, the Telegraph reported. Arcadia, which owns Topshop and has closed more than 200 of its stores since 2016, has seen a prolonged dip in sales and...

Report

UK consumer spending falls at fastest rate in eight months

Consumer spending dropped by 1 percent in December 2018, with the run-up to Christmas hitting the sector particularly hard, new data shows. Visa’s UK Consumer Spending Index, compiled by IHS Markit, revealed that overall expenditure continued to decline at the end of last year - with December’s -1.0 percent year-on-year reduction the fastest...

RetailFeatured

UK retail sales fell to six-month low in October

The run-up to Christmas has to date not spurred a boost in sales, with the Office of National Statistics (ONS) reporting retail sales fell to a six-month low in October. Accord to the ONS a buoyant summer of sales has prompted a spending ease in October. While sales slid 0.5 percent compared to September despite an annual growth it is the...

Management

UK high street sees worst half year in a decade

The high street has experienced the worst first half to a year in more than a decade, as sales dropped for a fifth consecutive month, according to the BDO High Street Sales Tracker. Retail sales fell 1.7 percent in June according to the Tracker, marking the first time in 12 years that in-store growth had not seen growth over 1 percent for six...

Management|UPDATE

980 jobs at risk at New Look, as 60 stores may shut following CVA

London - New Look is the latest high street retailer to succumb to difficult trading conditions, as the fashion brand confirms its application for a Company Voluntary Agreement (CVA). The struggling retailer may close as many as 60 stores across the UK, putting 980 jobs at risk. The fast-fashion retailer instigated a CVA to protect its business...

Report

9,500 stores at risk of shutting down this year

London - Retail experts predict a total of 9,500 stores are likely to close down this year, a 30 percent increase on 2017 if the government moves forward with plans to increase business rates. Up to 26 stores could shut down for good each day this year, as difficult trading conditions and continue to take a toll on the high street. Business...

Report

Rise in footfall breaks through clouds hanging over UK high streets and retail parks

A slight rise in footfall during the month of May has been hailed a temporary break through the clouds, as visitor numbers increased 0.3 percent year on year last month. High streets and retail parks alike enjoyed a boost in visitor footfall in May, driven by the three day bank holiday weekends, according to the latest data from the...

Management

UK retail outlook uncertain, Brexit fears

The future of UK retail remains uncertain in the wake of the Brexit vote later this month. The fashion industry has seen a stagnant high street affected by slow sales of spring and early summer merchandise. The stark view came as the BDO High Street Sales Tracker for May recorded a 1.9 percent year-on-year dip in sales, blamed on uncertainty...

Fashion

Fashion heritage: how relevant is it today?

The latest thwart of a high street brand invading a sought after boutique space in a location rich with historic fashion, tradition and distinction brings to mind a case in point. Does fashion heritage really mean anything these days? Do traditionalist brands need protection and nurturing and more importantly is it something that influence’s a...

Fashion

Technology entices shoppers: Lighting up the high street

Retailers risk disappointing customers by not investing in new technology to improve the retail experience. British retailers are focussing their technology investment on cost cutting and driving internal efficiencies over the next 12 months, despite customers demanding more innovative technology to deliver a more rewarding shopping experience,...