Sunday 22 April 2018

Mixed Fortunes on the High Street

Debenhams has reported another slide in profits and sales after freezing weather in late February temporarily closed 100 stores in the UK whilst new stores are opening on UK High Streets at their lowest rate in seven years, research suggests. But that doesn't mean things are going awry for everyone. There are still some retailing bright spots. Associated British Foods, owner of Primark, has hailed the clothing chain's UK performance as "remarkable" after a boost in like-for-like sales. Retailer JD Sports also reported a rise in sales, which it said was "an excellent result". Chains on the UK High Street have been facing a combination of a squeeze on incomes and rising overheads. Prezzo, New Look and Carpetright are among the big names that have been struggling recently.