High Street Retail

90% of retailers to ‘struggle’ with upcoming accounting rules

Britain’s retailers look set to emerge as the most exposed to new lease commitments, according to analysis by Aptitude Software, a global financial software specialist. The firm predicts that 90% of UK high street retailers will struggle to comply with the impending lease accounting standards (IFRS 16) which come into…

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Fewer closures, more openings for high street retail

There were more high street retail businesses opening and fewer closing in the first half of 2017, according to a report from the Local Data Company. The data, which studied the top 500 British town centres, found that 2,564 stores closed in the first six months of the year whereas…

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Independent High Street retailers boom while national chains fall

Data released recently by The Local Data Company (LDC) and British Independent Retailers Association (bira) shows that traditional independent shops opened significantly more shops than in the same period last year. National chains continued to see a fall. Independents account for 65 percent of all retail and leisure units in Great Britain.…

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High street ‘digital dinosaurs’ left behind by digital age

High street retailers who don’t keep up with new digital age will be left behind, claims new data from Worldpay. According to the payments processor, small and independent stores are seeing year on year growth of up to 8 percent by allowing customers to browse and purchase online as well…

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‘Save the high street’, say industry leaders

The British Independent Retailers Association (bira) has shown its support for a new initiative for UK retailers. In May 2017, it joined industry leaders such as AppearHere, Bink, CityHouseMedia, CitySprint and many more, to work alongside the 120+ nationwide SaveTheHighStreet.org Retailer Advisory Board members. Together, they are implementing a programme to support…

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Illegal cat fur sold by high street retailer

UK fashion chain Missguided has allegedly been selling shoes containing cat fur on the British high-street. Following a joint investigation by Humane Society International/UK and Sky News, laboratory tests confirmed that the pom-poms of fur decorating a Missguided shoe were real cat fur. The import and sale of fur from domestic…

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No Bend pet bowl trials with major retailer

The team behind No Bend Pet Bowl have confirmed a six week store trial with a major retail group. Trials within The Southern Co-operative start this September and run into October. The move comes after the Northampton based manufacturer and distributor of the innovative pet feeding product, recently announced a new…

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Retail spend predicted to rise 26 per cent by 2022

Retail spend will rise to £377 billion over the next decade, a new report has suggested. With a rise in discretionary income and the emergence of the “considered consumer”, Hammerson’s The Reshaping of Retail report suggests that retail spend will increase 26 per cent over the next 10 years. Collaborating…

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Retail sales growth continues

High street retailers have reported improved year-on-year sales for the third consecutive month, according to data gathered by the Confederation of British Industry (CBI). The CBI’s latest quarterly Distributive Trades Survey covers the first two weeks in November and revealed that year-on-year sales volumes grew for the third successive month,…

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Retail sales growth eases in year to July

High street retailers reported a third consecutive month of rising year-on-year sales in July; however growth slowed to a greater extent than had been expected according to the CBI. In the CBI’s latest monthly Distributive Trades Survey, 44 per cent of retailers stated that their sales volumes were up on…

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