Tag: High Street

Warm weather fails to boost retailers

Warm weather fails to boost retailers

According to accountancy firm, BDO, the warm weather during September failed to boost the High Street after like-for-like sales were 4% lower last month compared with a year earlier a�� the biggest fall since March 2009. A report by the company said people were more interested in enjoying the warm days rather than hitting the […]

October 10, 2011 More
CBI: Retail sales weaken in September

CBI: Retail sales weaken in September

According to the latest Confederation of British Industry (CBI) distributive trades survey, the volume of sales on the UK High Street were lower this month versus a year ago. The figures suggest continue to be cautious about the economic outlook and rein in their spending on the back of rising unemployment, higher inflation and slow […]

September 27, 2011 More
Debenhams exceeds profits forecasts

Debenhams exceeds profits forecasts

Debenhams, which is Britaina��s second largest department store after John Lewis, has today exceeded market expectations after reporting growth of 0.4% in the nine week period to the end of August on a like-for-like basis. The retailing giant said aggressive summer discounting and promotions had helped increase its market share. The company said growth came […]

September 20, 2011 More
Dixons Retail sees sharp drop in sales

Dixons Retail sees sharp drop in sales

There is further evidence of a cutback in consumer spending today after electrical goods group Dixons Retail posted a drop in sales. The group, which is Europea��s no.2 electricals retailer, said like-for-like sales were 7% lower in the three months to 23 July compared with a year ago, which included a 10% fall in the […]

September 7, 2011 More
BRC: UK retail sales weak in August

BRC: UK retail sales weak in August

The British Retail Consortium (BRC) has today reported weak retail sales for August. According to the BRC, like-for-like sales (which exclude the impact of sales at new stores) fell 0.6% last month on an annual basis. Overall sales rose 1.5%, however, this was much lower than the 2.8% rise noted in August 2010. Commenting, Stephen […]

September 6, 2011 More
Retail outlook gloomy as sales fall

Retail outlook gloomy as sales fall

UK retail sales volumes fell in August, at the fastest pace for over a year, the Confederation of British Industry (CBI) reports. In a new quarterly survey, 46% of retailers said they had experienced falling sales in the two weeks to mid-August (compared with a year earlier) and the level of negativity registered over prospects […]

August 26, 2011 More
Debenhams reports rise in half-year profits

Debenhams reports rise in half-year profits

Department store Debenhams appears to have bucked the trend on the High Street after reporting a rise in half-year profits. The retailer, which has 167 stores in the UK and Ireland, said pre-tax profits for the six month period to 26 February totalled A?125.3 million – up from A?114.5 million in the same period a […]

April 14, 2011 More
ICB calls for more competition among banks

ICB calls for more competition among banks

An interim report published by the Independent Commission on Banking (ICB) has said more competition is required in retail banking. The ICB, which was established in June 2010, has until September 2011 to make its recommendations about the banking industry to the Government and one of its suggestions is for banking giant Lloyds to sell-off […]

April 11, 2011 More
National shop vacancies rise to record high

National shop vacancies rise to record high

A new report has revealed the British High Street is suffering after shop vacancies rose to a record high in 2010. According to the Local Data Company, the number of vacant shops in Britain increased to 14.5% at the end of last year, up from 12% at the end of 2009 and compares with 5% […]

February 16, 2011 More
Big freeze could bring trouble for retailers

Big freeze could bring trouble for retailers

Christmas shopping could be hit with the expected return of heavy snowfall over the next few days, according to a report today. A survey by market research company, GfK NOP, found that almost one third of Christmas shopping in Britain is done in the two weeks prior to Christmas. Should the bad weather return, retailers […]

December 16, 2010 More
John Lewis weekly sales hit by snowfall

John Lewis weekly sales hit by snowfall

The John Lewis Partnership, which is regarded as a barometer of British retailing, has announced that sales growth struggled last week as the cold snap meant shoppers stayed at home. The renowned employee-owned department store said a�?the snow has impacted both footfall and sales in shops where the weather has been particularly poor.” However, the […]

December 6, 2010 More
John Lewis sees boost as Christmas shoppers hit the High Street

John Lewis sees boost as Christmas shoppers hit the High Street

The John Lewis Partnership, which is regarded as a barometer of British retailing, said sales rose sharply last week as Christmas shoppers took to the High Street. The renowned employee-owned department store said sales at its 28 department stores grew 11.5% to A?77 million in the week to 13 November, compared with the same period […]

November 14, 2010 More
BDO optimistic about High Street sales in 2011

BDO optimistic about High Street sales in 2011

BDO, the accountancy firm, has today provided an optimistic report about the prospects for the UK High Street. Spending cuts and tax hikes has led many experts to suggest that consumers will rein in their spending, having a severe impact on retailers. However, BDO suggests that sales will grow by 3% over Christmas as shoppers […]

November 8, 2010 More
Unexpected fall in August retail sales

Unexpected fall in August retail sales

The Office for National Statistics (ONS) has today reported a fall in UK retail sales for the month of August – the first decline since January. According to analysts, the fall is a sign of things to come on the UK high street as Government spending cuts and economic uncertainty are set to hit consumersa�� […]

September 16, 2010 More
New High Street bank opens in London today

New High Street bank opens in London today

Metro Bank, which aims to make banking a a�?fun retail experiencea�? opens in Holborn, central London today. The bank is Britaina��s first new high street lender for more than a century and it has pledged to return to a�?core banking valuesa�?. The bank said it will employ more cashiers than the existing a�?big foura�? banks, […]

High temperatures will boost retail sales

High temperatures will boost retail sales

Earlier this month, the Office for National Statistics (ONS) revealed a strong performance on the High Street for the month of May a�� boosted by the sales of televisions in the build-up to the World Cup tournament. However, Englanda��s early exit from the World Cup coincided with a heatwave and according to retail analysts, sales […]

City Watchdog criticises banks over customer complaint handling

City Watchdog criticises banks over customer complaint handling

City Watchdog, the Financial Services Authority (FSA), has criticised the UK’s largest High Street banks for the poor way they handled their customers’ complaints. Five of the banks, who have not been identified, have agreed to make a�?significanta�? changes to the way it handles complaints. However, two of the banks are being investigated further and […]

UK retail sales continue recovery in March

UK retail sales continue recovery in March

The British Retail Consortium (BRC) has today revealed the High Street continued its recovery in March with UK retail sales rising at their fastest rate in almost four years. According to the BRC, the rise was boosted by Easter shopping as consumers stocked up on chocolate, food and drink for the Easter weekend. The BRC […]

Billionaire investor supports Virgin Money in RBS bid

Billionaire investor supports Virgin Money in RBS bid

US billionaire investor, Wilbur Ross, has invested A?100 million in Sir Richard Branson’s Virgin Money in order to help it in its quest to bid for Royal Bank of Scotland’s (RBS) High Street branch network, believed to be worth up to A?2 billion ($3 billion). RBS, which is 84% state-owned, was ordered by European Union […]

UK retail sales recover in February

UK retail sales recover in February

The British Retail Consortium (BRC) has today revealed the High Street recovered in February after a dismal January, which saw shoppers avoid the stores due to the heavy snowfall. According to the BRC, like-for-like sales were up 2.2% on the year but analysts issued caution since the figures compare with poor trading in February 2009. […]