WH Smith shares slid 2.8% to 1,436.6p in early morning trading on Wednesday, after the franchise reported strong FY 2022 travel sector performance, alongside a HY2 impact to its high street business following disruptions to its funkypigeon.com greeting card segment. WH Smith confirmed its FY 2022 trading was in line with management expectations, with HY1 […]

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WH Smith shares were up 5.8% to 1,438p in early morning trading after the company announced that it achieved group revenue ahead of 2019 levels for the first time at 107% for the 15 weeks to 11 June 2022. The company reported strong performance in its travel sector, with a 123% boost ahead of 2019 […]

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Next shares were up 0.7% to 6,132p in early morning trading on Thursday following the fashion group’s Q1 2022 trading update, which reported a giant leap of 285% in retail growth. Next announced a 21.3% increase in total product full price sales, in line with the company’s guidance for the period, and an 11% decrease […]

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New research from the Nottingham Building Society has revealed the impact of the coronavirus pandemic on how much Brits plan to spend on their Christmas shopping. Even before the recently announced Tier 4 restrictions on London and the South-East, 19% of people said that they expect to spend ‘significantly’ less this Christmas than they did […]

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UK inflation rate fell from 0.7% to 0.3% in November amid Black Friday sales. New figures from the Office for National Statistics (ONS) showed the dip in inflation rate and said it was due to retailers slashing the prices of clothing and footwear throughout the second wave of the pandemic. Whilst spending and prices would […]

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High street coffee shop chain Caffé Nero has launched a Company Voluntary Agreement (CVA) amid a major restructuring drive as the firm battles to avoid job losses and store closures. The impact of the Covid-19 pandemic has reportedly “decimated trading”, and that despite surviving the first lockdown, the current firebreak has forced the chain to […]

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More than 2,900 employees are now at risk of losing their jobs after it was announced on Friday that clothing retailer Edinburgh Woollen Mill and homeware suppliers Ponden Home have fallen into administration. Both brands are owned by EWM Group, which is still negotiating a potential rescue deal that could save its remaining brands – […]

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With lockdown restrictions seemingly implemented and changed every few weeks, high street businesses have been at the receiving end of the COVID pandemic, and this situation is unlikely to change any time soon, as shoppers look to embrace online shopping during Black Friday sales. According to new research published by money.co.uk, 77% of UK adults […]

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As reported by the BBC and many other major outlets, UK retail sales increased for the fifth consecutive month in September, with sales volumes rising by 1.5% mon-on-month, according to the ONS. While fuel sales remained down, the growth was led by higher-than-average consumer spend on groceries, DIY goods and garden supplies. According to the […]

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TSB – owned by Spanish firm Banco de Sabadell (BME:SAB) since 2015 – has seen its shares emerge unscathed on Wednesday afternoon despite the news that the bank plans to shut 164 branches and cut up to 1,000 jobs across the UK. Blaming the decline in customers visiting high street banks on the coronavirus pandemic, […]

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In the latest blow to the high street, Debenhams has announced plans to axe 2,500 jobs in its department stores and warehouses. In addition to the 4,000 roles the retailer has cut since May, Debenhams will be cutting up to a third of its total workforce in an attempt to survive the pandemic. The department […]

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High street newsagent WH Smith (LON:SMWH) has become the latest UK retailer to announce a restructuring plan after sales were slashed by the impact of the coronavirus pandemic in the first half of 2020. The firm has reportedly begun to consider axing as many as 1,500 jobs – 11% of its total workforce – primarily […]

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Dyson is the latest company to announce a series of job losses amid the Coronavirus pandemic. During a video conference on Thursday, the staff was told that 600 UK jobs and a further 300 worldwide roles would be cut. “The Covid-19 crisis has accelerated changes in consumer behaviour and therefore requires changes in how we […]

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Fashion retailer Primark, an Associated British Foods (LON:ABF) subsidiary, has turned down a £30 million offer from the UK government for bringing back its 30,000-strong furloughed workforce. The high street clothing chain stated that it “should not be necessary” to take the government up on its offer, which includes a £1,000 bonus for each employee […]

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High street beauty and pharmacy staple Boots – owned by Walgreens Boots Alliance Inc (NASDAQ:WBA) – has announced plans to axe 4,000 jobs and 48 stores nationwide as it attempts to mitigate the “significant impact” of the coronavirus pandemic. The move is expected to affect around 7% of the company’s workforce, with staff at its […]

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Swedish fashion tycoon Hennes & Mauritz AB (STO:HM-B) – popularly known as H&M – has announced its plans to permanently close 170 stores across Europe, knocking its share price down 1.40%. The move is said to be a response to plummeting sales during the coronavirus crisis, which caused the retail sector to grind to a […]

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Coffee and sandwich chain Pret A Manger is set to close 30 of its 410 UK stores – jeopardising at least 1,000 jobs – as the company prepares to navigate the post-coronavirus high street. The company has warned that the impact of the pandemic has forced it to make a “difficult decision”. The eye of […]

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With many employees returning from furlough, and with shops opening for the first time in months on Monday, questions are being asked about the ability of high street retailers to pick up steam as lockdown restrictions are loosened. Offering diverging accounts of the situation for companies post-quarantine were Fortnum and Mason CEO Ewan Venters, and […]

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WH Smith Plc (LON:SMWH) have given shareholders an update on its first half trading and the impact of the coronavirus. The high street retailer said that across the first half of its’ financial year – which ended on February 29, group total revenue had jumped 7%, however on a like for like basis revenue had […]

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The Centre for Retail Research (CRR) has published its findings that a total of 9,949 retail jobs were lost since the start of the year, predicting a further 1,200 could go as both Beales and Hawkin’s Bazaar collapse into administration. January is a notoriously tough month for retailers, facing caution from customers following the inevitable […]

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Joules (LON:JOUL) have seen their shares surge on Tuesday despite giving shareholders a modest update. The firm reported a first half earnings fall with profit falling due to higher impairment costs and revenue slipping, whilst the gloomy British high street continues to struggle. In the 26 weeks to November 24, the firm saw revenues fall […]

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Beales, one of the biggest British name stays on the high street has collapsed today and fallen into administration. Beales initially appointed KPMHG as administrators after it was reported that they could not find a new investor or buyer for the British high street department store. Beales stores will continue to trade, however there will […]

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