Latest news with #highStreet
Yahoo
03-07-2025
- Business
- Yahoo
High streets suffer disappointing June amid ‘incredibly cautious' spending
The high street suffered a disappointing June with consumers being 'incredibly cautious' amid rising job losses and volatile geopolitics, latest figures show. Sales rose by just 0.6% year on year while online sales saw a 4.3% increase as consumers adapted their shopping behaviour to the warm temperatures, according to the latest High Street Sales Tracker from accountancy and business advisory firm BDO. The disappointing store figures reflected the high street's continued struggle to attract shoppers, BDO said. This was particularly evident in the fashion sector, where online sales grew by 10% in June compared with a 0.2% decline on the high street. It is the sixth consecutive month that in-store sales growth has been below the rate of inflation, which means that sales volumes are significantly down in the first half of this year. Data from the CBI also suggests that this is the ninth consecutive month that overall sales volumes have fallen, reflecting the ongoing challenge the retail sector faces in attracting consumer spending. Sophie Michael, head of retail and wholesale at BDO, said: 'Consumer spending continues to be challenged, with little optimism for retailers. 'We know that consumers are being incredibly cautious when it comes to discretionary spend, given the significant noise around rising job losses and volatility in the geopolitical landscape. 'There is also a growing gap between the performance of physical stores and online retail. 'Perhaps this is because online retailers have greater agility to adjust their inventory and promotional material to quickly align to consumer preferences, such as promoting summer outfits in extreme high temperatures and pivoting to waterproofs when the rain arrives.'
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The Independent
03-07-2025
- Business
- The Independent
UK shoppers shunned high streets for online shopping amid heatwave
Britain's high streets experienced a disappointing June, with consumers described as "incredibly cautious" amidst rising job losses and volatile geopolitics, according to new figures. Overall sales saw a modest 0.6 per cent year-on-year increase, while online sales surged by 4.3 per cent as shoppers adapted their behaviour, partly influenced by warmer temperatures. The latest High Street Sales Tracker from accountancy and business advisory firm BDO revealed the disappointing in-store performance, underscoring the high street's continued struggle to attract shoppers. This was particularly evident in the fashion sector, where online sales jumped by 10 per cent in June compared with a 0.2 per cent decline on the high street. This marks the sixth consecutive month that in-store sales growth has lagged behind the rate of inflation, indicating a significant drop in sales volumes across the first half of the year. Data from the CBI also suggests that this is the ninth consecutive month that overall sales volumes have fallen, reflecting the ongoing challenge the retail sector faces in attracting consumer spending. Sophie Michael, head of retail and wholesale at BDO, said: 'Consumer spending continues to be challenged, with little optimism for retailers. 'We know that consumers are being incredibly cautious when it comes to discretionary spend, given the significant noise around rising job losses and volatility in the geopolitical landscape. 'There is also a growing gap between the performance of physical stores and online retail. 'Perhaps this is because online retailers have greater agility to adjust their inventory and promotional material to quickly align to consumer preferences, such as promoting summer outfits in extreme high temperatures and pivoting to waterproofs when the rain arrives.'
Daily Mail
18-06-2025
- Lifestyle
- Daily Mail
I wear this Mango skirt nearly every day - so I've just bought it in another colour
A part of my job is to scroll the new-in sections to help inspire your wardrobe. Admittedly, this means I'm often tempted to add to my own wardrobe. But there are a few important shopping rules that I follow when I'm making a new purchase to avoid disappointment down the road. Top of the list? Don't buy something just because it's 'in fashion'. As a simple dresser, I'd rarely encourage buying into trends. Instead, I'd always suggest looking for timeless, well-made staples that will elevate your wardrobe. But I'm not immune to the trend cycle either and every now and again, when a micro-trend crops up that I see going the distance, I break my rule. Case in point for the poplin midi skirt. At the start of summer, I wouldn't have looked at it twice. But here I am, after a parade of influencers on Instagram showed me just how versatile the cotton skirt can be, and one thing is clear: the poplin midi skirt is here to stay. So, a few weeks ago, I pulled the trigger and bought the white flared cotton skirt (£45.99) from Mango. Mango Flared Cotton Skirt £45.99 Shop The A-line design is simple but super flattering, with an elastic waistband that is cleverly hidden. And thanks to the deep hem, which hits just right (for reference: I'm 5'8), the skirt looks far more expensive than its high street price tag. There's a matching cotton crop top (£25.99) for a total look, but it's not very office-appropriate. Luckily, I've got plenty of tops in my wardrobe that easily team with the white skirt, including a sleeveless linen knit, a white bandeau top and a navy peplum top. Mango Flared Cotton Skirt £45.99 Shop While the hardest-working pieces in my summer wardrobe remain my dresses, I have found myself reaching for this Mango skirt more than I thought I would, which is why I've decided to buy it in another colour. There is a red version, but I've gone for black (boring, I know) as it acts as a blank canvas for my chunky gold jewellery and raffia accessories to sit against.
Yahoo
16-06-2025
- Business
- Yahoo
Former Wilko workers to receive $2.7m payout after tribunal ruling
An employment tribunal has ruled in favour of 10,000 former employees of failed UK high street retailer Wilko, following a legal victory by the GMB union. 9,000 ex-employees from larger stores, each with a workforce of at least 20 individuals, are entitled to £2m ($2.7m) compensation equivalent to four days' wages. 1,100 former staff members from distribution and support centres will receive remuneration for 13 days. The ruling determined that Wilko did not engage in adequate consultation with its workforce before entering administration in 2023. GMB represented the interests of thousands of its members who were affected by job losses when the discount retailer collapsed. Its successful legal challenge has led to this financial redress for the impacted workers. GMB rep and former Wilko worker David Bartlett stated: 'It has been a long, hard, slog getting this money – the very least Wilko workers deserve after the way they were treated. 'In no way will this make up for the stress and anxiety they faced during those dark days in 2023. 'But GMB hopes it will give them a much-needed boost as they move on with their new lives and careers.' In August 2023, the retailer announced the closure of the majority of its stores as it failed to secure a buyer, putting 12,500 jobs and 400 stores at risk. During negotiations, PricewaterhouseCoopers (PwC), acting as Wilko's administrator, confirmed that saving the majority of the business was unlikely. However, M2 Capital proposed a £90m rescue bid, promising to keep all employee positions secure for two years. GMB Union has now reached a settlement regarding the protective award for Band 1 employees made redundant during the administration process. The consultation period required by law was 45 days for distribution centres and support centres, and 30 days for larger stores. The settlement reflects the discrepancy between the required consultation duration and what was provided by Wilko. This is the reason for the difference in compensation for different groups of employees. "Former Wilko workers to receive $2.7m payout after tribunal ruling" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Sun
01-06-2025
- Business
- The Sun
Popular chain with more than 1,600 stores to ‘close high street branch' in blow to shoppers
SHOPPERS were saddened to hear a popular chain with more than 1,600 stores is set to close a beloved branch. Holland & Barrett are reportedly shuttering a once-thriving site imminently, in yet another blow to the high street. 1 Residents in Inverness, Scotland, were disappointed to see a "closing soon" sign taped to their local store. "We're sorry this store is closing soon but you can still shop at it read. Holland & Barrett is one of the UK's leading health stores and is known for selling a range of vitamins, vegan food and beauty products. The company have not given an official shut down date as of yet, as reported by the Inverness Courier. It is understood the lease on the shop may be up for renewal soon, which may have led to decisions being made around potential closure. However, it is not known whether Holland & Barrett could re-open at a new site nearby. This comes after the company announced plans to roll out more than 30 new UK stores as part of a three-year mission. It will also be transforming 320 existing sites, as well as launching new brands both in the UK and internationally. And, in its annual report, Holland & Barrett recorded double-digit growth for the second year running. The firm boasted a 10 per cent year-on-year sales growth in the last financial year, and £524.2million in profit. Scottish vintage clothing store launches huge closing down sale with 80% off It added: "As a result, confidence is high that the company will see a third consecutive year of strong growth driven by the significant acceleration of online in fiscal year 2025." Holland & Barrett were contacted for comment This comes follows the closure of a branch on Hanley's high street in Stoke on Trent bit the dust. They were forced to relocate, and ahead of the move, Holland & Barrett said: "We can confirm we will be closing H&B Hanley later next month and opening our new, bigger and better store in The Potteries Centre. 'We are delighted to be opening a larger store with an even wider range of products and an increased store team of experts to support the community on their wellness journeys. 'We look forward to welcoming our customers from our Hanley store soon.' Meanwhile, not long ago the company confirmed its shops in Chard, Somerset, and Frinton-on-Sea, Essex, would be closing their doors. This comes ahead of more closured from major retailers this month as the high street continues to face difficulties. This year businesses have faced increased costs due to Government changes announced in the Budget. An increase in employer National Insurance contributions, energy and rent costs and lower customer footfall have all piled on pressure. As a result, some retailers have been forced to hike prices, review expansion plans and reduce the number of stores they have. But remember, retailers regularly close shops for a number of reasons, not just because they are struggling. For example, they may have a nearby store that is performing better or may want to move to a location that will have a higher footfall, such as a retail park. Here is a full list of the shops we know are shutting in June 2025. They include, but aren't limited to, The Original Factory Shop, Poundland, and The Works. RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
