High street struggles: 2,000 local stores, pubs and hairdressers wiped away this year September 21, 2023 Nearly 2,000 independent local stores were left vacant in the first half of this year, as the cost of living crisis continues to eat away at the health of the high street and small businesses. Some 1,915 independent businesses on high streets, retail parks and shopping centres closed in the first leg of this year, marking [...]
Co-op invests £70m into fresh price cuts for as losses narrow September 21, 2023 The Co-op has invested a further £70m investment into lowering pricing for customers as its losses narrowed after the sale of its forecourts business to Asda. The retailer pumped £20m into price cuts in the first half year and said it now has plans for a further £70m investment, which includes 200 reductions for users [...]
DFS profits halved as sofa maker is battered by ‘tough economic climate’ September 21, 2023 Sofa seller DFS saw annual profits almost cut in half, sliding to £29.7m from £58.5m a year earlier, as the retailer was battered by economic conditions. Revenue from operations fell 5.3 per cent to £1.09bn in the year to June 25, with the group blaming soaring inflation. Chief executive Tim Stacey said that the company [...]
JD Sports’ sales hit £4.7bn as trainers king ramps up athleisure drive September 21, 2023 JD Sports said revenues grew 8.3 per cent to £4.7bn in the six months to the end of July, as the trainers champion continues to plough ahead with its athleisure expansion plans. The shoe and sportswear stores reported a 25.8 per cent growth in statutory profit before tax to £375m and operating profit grew 20.2 [...]
Next does it again: Profit guidance raised at retail miracle-maker September 21, 2023 Next has raised its full year profit guidance for the third time this year despite well-publicised pressures on the high street
City Pub Group: Rains, trains and financial pains don’t stop revenue gains September 21, 2023 Heavy drizzle, train strikes nor a slowing economy did not stop drinkers heading down to the watering hole this summer City Pub Group have said.
Christmas cheer not enough to save pubs from winter pain, sector warns September 21, 2023 A festive boost in trading this Christmas will not be enough to save the UK pubs industry, sector heads have warned.
Wilko: Union calls for former boss to face MPs over £56m pension pot hole September 20, 2023 The union representing Wilko workers called for Lisa Wilkinson to answer questions about a £53m hole in its pension pot.
Dunelm: ‘Value’ offer leads to record revenue amid cost of living crunch September 20, 2023 Dunelm posted record sales of £1.64bn, in its preliminary results, rising up 5.5 per cent from last year's figures, as the homeware retailer was bolstered by cost reductions.
How Brits (and businesses) fell in love with the humble retail park September 20, 2023 On the outskirts of every bustling town and city lies the reliable, yet boring, retail park. But, as dull as they may be, retail parks are having their moment in the sun.