Clintons back in profit after closing stores and cutting over 300 jobs April 7, 2025 Clintons has surged back into the black after closing more stores and cutting over 300 jobs. The gift card giant has posted a pre-tax profit of £8m for the year to 29 June, 2024, according to new accounts filed with Companies House. The total comes after Clintons made a pre-tax loss of £5.3m in the [...]
UK retailers respond to Trump tariffs: ‘The timing couldn’t be worse’ April 4, 2025 Retail bodies and tax advisers have warned that Trump’s tariffs come at a dire time for UK retail, saying price rises are “inevitable”. US President Donald Trump announced a 10 per cent tariff on goods from the UK on 2 April, and a range of higher tariffs on many of the countries retailers manufacture goods [...]
Shop prices fall again but ‘inflation is coming’ April 1, 2025 Shop prices fell again in March but a retail body has warned higher business taxes mean inflation is on the horizon. Retail prices have been in deflation since August 2024, primarily driven by deep discounting by non-food retailers. Shop price deflation was 0.4 per cent year on year in March, against a decline of 0.7 [...]
WH Smith’s decline: A cautionary tale of bad branding March 31, 2025 As WH Smith disappears from the high street, Will Bosanko looks at why the brand failed, and asks whether there is a future for TG Jones.
FTSE 100 retail giant Next passes £1bn profit milestone for the first time March 27, 2025 Next has joined a small group of UK retail companies in reporting more than £1bn in annual profit. The high street bellwether told markets this morning that its profit before tax for the year to January 2025 was £1.01bn, up 10.1 per cent year on year. Its share price rose more than eight per cent [...]
TSB’s new boss takes helm amidst parent company’s uncertainty March 21, 2025 UK retail bank TSB announced on Friday that Marc Armengol had taken over as its new chief executive officer. Armengol, who previously served as corporate strategy director at the lender, was tapped for the role in November 2024. His appointment follows the retirement of former boss Robin Bulloch. Before joining TSB, Armengol worked at the [...]
Two thirds of large UK shops to pass on higher business rates to consumers March 18, 2025 Two thirds of businesses subject to the government’s new ‘super tax’ business rate multiplier will increase prices to combat cost pressures, a survey has found. The effect would be to increase prices in flagship retail stores by around three per cent, according to High Streets UK. “[The higher multiplier] would be a disaster for jobs, [...]
Confidence boost for UK shoppers fails to improve high street retail sales March 11, 2025 High street retail sales continued to fall in February despite a confidence boost for UK consumers, a survey has found. Overall, retail sales increased by 1.1 per cent in February, according to the British Retail Consortium (BRC).However, this was driven by food sales, which grew 2.3 per cent year-on-year. Non-food sales were flat in February, [...]
High street firms facing extra £1bn tax bill next month as relief slashed March 10, 2025 Shops, restaurants and pubs across England are facing an extra £1bn in taxes when a discount is cut next month, adding to a “tsunami” of rising costs hurtling toward the sector, according to new analysis. Businesses in London will be hit hardest by changes, tax and software firm Ryan found. Firms in the retail, leisure [...]
HMV: Sales on song as billionaire owner helps turn around high street icon March 6, 2025 Sales at HMV have more than doubled in the last three years as its recovery under the ownership of Canadian billionaire Doug Putman continues at pace. The high street staple has reported a turnover of £189.5m for the 12 months to 30 May, 2024, up from the £177.9m it achieved in the prior year. The [...]