High street news and archive

Retail price inflation declines to lowest point since December 2021

Shop Price annual inflation eased to 1.3 percent in March, down from 2.5 percent in February, new data shows. This is below the 3-month average rate of 2.2 percent. Shop price annual growth is its lowest since December 2021, according to research released by BRC-NielsenIQ. Commenting on the data, Helen Dickinson, Chief Executive of the British...

Retail

Retail hit by wettest February on record

Adverse weather conditions in February cast a shadow over the UK retail sector, with sales figures, unadjusted for inflation, suggesting a potential concealed decline in volumes amid heightened inflation, according to data released by the BRC-KPMG Retail Sales Monitor. The 1.1 percent year-on-year rise in total retail sales fell below the...

Retail

UK retailers continue to face difficult trading conditions

In the latest retail footfall analysis covering the four weeks from December 31, 2023, to January 27, 2024, BRC-Sensormatic IQ data reveals a continued decline in UK footfall. Total UK footfall decreased by 2.8 percent year-on-year (YoY) in January, showing a slight improvement from the 5.0 percent decline in December. High Street footfall...

RetailFeatured

Pop-up shops are revitalising the high street

Pop-up shops have emerged as a potential solution for rejuvenating and reinvigorating High Streets, presenting several advantages that address the current challenges faced by traditional retail spaces. With footfall in some locations still below pre-pandemic and Brexit levels, retail brands might be hesitant to commit to long leases in an...

Retail

Good weather and summer sales boosted June retail, says ONS

British consumer purchases experienced a notable 0.7 percent rise in June, following a modest 0.1 percent increase in May, according to the Office for National Statistics (ONS). Retail sales volumes saw positive month-over-month growth across all major sectors, except for automotive fuel, which saw a 0.3 percent decline. The report highlighted...

RetailFeatured

Retail vacancy rates stagnate amid rising costs

The increasing costs associated with running standalone stores are deterring retailers from investing in the UK's high street. These costs include rent, business rates, and utilities, which have been on the rise in recent years. As a result, retailers are exploring other avenues such as online sales and pop-up stores, which offer more...

Retail

Primark profits under pressure due to weak pound and high inflation

Primark has seen an increase in foot traffic as its store visits returned to pre-pandemic levels, resulting in a 19 percent sales boost. However, despite this growth, the company's profits are under pressure due to a weak sterling and high inflation. Shares of Primark's parent company, AB Foods, fell 3.6 percent on Tuesday as shoppers prioritise...

BusinessFeatured

Without tax free shopping UK is least attractive shopping destination says Burberry chief

Burberry chair Gerry Murphy has accused UK Prime Minister Rishi Sunak of making a grave mistake in removing the VAT refund for foreign shoppers, claiming that it has made the UK the least attractive shopping destination in Europe. Mr Murphy alluded that tourists can shop tax-free in other cities such as Paris, Milan, and Amsterdam, making the UK...

RetailFeatured

Labour to launch five-point plan to ‘revitalise’ local high streets

The UK’s Labour party has outlined a new five-point plan to “revitalise local high streets”, after the sector took a hit due to rising inflation, costly energy bills and offsets of the pandemic. Among its efforts, the party said it would launch a Police Efficiency and Collaboration Programme that aims to combat anti-social behaviour and “deliver...

Retail

Joe Browns eyes 10 new UK stores by end of 2024, creating 200 jobs

Joe Browns is bucking the broader UK retail trend by announcing ambitious plans to open 10 new stores by the end of 2024 on the back of “robust” Christmas trading. It’s a significant expansion for the fashion and homes retailer, which currently only has two stores: one in York, and another in Meadowhall, Sheffield. The company, which recently...

Retail

UK retailers at behest of unpredictable and extreme weather

One minute it snowed, the next it rained, in what was a week of extreme weather. As a result, shoppers were less keen to venture out, with week-on-week footfall on UK high streets dropping by 10.1 percent. Across all UK retail destinations the footfall gap to 2019 widened to -15.7 percent from -10.9 percent the week previous, according to data...

RetailFeatured

UK store closures are at slowest rate since 2021, according to new report

A new report has found that store closures in the UK are currently at their slowest rate since 2014, with net closures also at their lowest level in five years. Latest figures by PwC, developed alongside the Local Data company, found that in 2022 a total of 11,530 chain outlets exited UK high streets, shopping centres and retail parks, a drop on...