PUBLISHED: 12:42 26 October 2018 | UPDATED: 12:42 26 October 2018 The Next store in Norwich. Picture: Denise Bradley copyright: Archant 2013 High street retailer Next is expected to report growth in full-price sales next week, as investors keep their fingers crossed for the chain to repeat its bumper second quarter. On Wednesday, Next is expected to report growth of 1.1% in the third quarter. However to avoid the woes which have befallen competitor Debenhams, Next will need to perform well over the Black Friday, Christmas and New Year trading period. Next has stores across the region, with two in Norwich’s city centre, one in Costessey, two in King’s Lynn, one in Great Yarmouth and one in Lowestoft. Where retail experts have said that Debenhams has failed as a result of poor online presence and unattractive consumer experiences in store, Next has flourished. George Salmon, equity analyst at Hargreaves Lansdown, said: “Next’s been one of the frontrunners … [Read more...] about Next challenges high street trends with expected report of sales growth
High street retailers
eBay launches first partnership with a UK city to help high street retailers
PUBLISHED: 08:39 24 September 2018 | UPDATED: 08:39 24 September 2018 eBay is launching a partnership with a city aimed at supporting local retailers and boosting the local economy. Picture: Ebay/PA Wire Online giant eBay is piloting a partnership with a city aimed at supporting local retailers. Among the goals of the tie-up with Wolverhampton – the first of its kind in the UK – are to show that online and high street retailers can co-exist.It follows research for eBay which found that one in four small retailers does not have an online presence.Rob Hattrell, vice president of eBay in the UK said: “We know that customer shopping behaviour is changing, but online should play an important part in helping businesses in our local communities to thrive.“I’ve seen that Wolverhampton businesses have the creativity matched with the entrepreneurial skill to create products needed and wanted all over the world - and eBay will help them to sell in the way they … [Read more...] about eBay launches first partnership with a UK city to help high street retailers
Business rates: Now treasury committee raises concerns at impact on high street
Chancellor of the Exchequer Philip Hammond PA Wire/PA Images MPs say they are “increasingly concerned” about the impact of business rates on high street retailers after questioning if they were still “fit for purpose”. Treasury committee chairwoman Nicky Morgan said MPs were likely to scrutinise business rates further as part of its Autumn Budget inquiry later this year. Mrs Morgan made the comments after publishing a letter from chancellor Philip Hammond in which he said the government “recognises that business rates can represent a high fixed cost for some businesses”. Mrs Morgan wrote to Mr Hammond in June about the committee’s concerns around the “financial burden” of business rates on the high street, asking if the chancellor believed business rates were still fit for purpose and if the treasury had analysed the competitive advantage for businesses that focused on online sales. READ MORE: Are business rates changes to blame … [Read more...] about Business rates: Now treasury committee raises concerns at impact on high street
Apple’s repair rival iSmash expands amid high street closures
A chain that repairs cracked screens on iPhones plans to swoop on vacant stores left by recent high street retailer closures as it continues to expand. iSmash, which offers same-day screen repairs across 26 cities in the UK, will open 70 new shops by the end of 2020. Julian Shovlin, chief executive, who formed the chain shortly after leaving university, said: “It is sad, but people need to adapt and offer something different than just products. “They need to offer an experience or service. Mobile networks are seeing this and investing in service and after-sales, giving them a reason to come back.” Screen repairs are a controversial venture, once confined to the back rooms of corner shops. Apple... To continue reading this article Start your free trial of Premium Access all Premium articles Subscriber-only events Cancel any time Free for 30 days then only £2 per week Try Premium Access one Premium article per week … [Read more...] about Apple’s repair rival iSmash expands amid high street closures
Beast from the East delivers biggest drop in high street sales in almost a decade
PUBLISHED: 13:10 06 April 2018 Josie Clarke Sudbury shoppers brace the snowy conditions. Picture: GREGG BROWN The Beast from the East caused the biggest fall in high street retail sales for nearly 10 years, figures show. Year-on-year sales dropped by 10.1% for March, according to BDO’s High Street Sales Tracker (HSST). The only time a single month has seen a more severe dip was November 2008, when the UK was simultaneously battling snow and a global financial crisis. It was also the worst month on record for fashion sales, which were down 12.7% year-on-year, and homewares, down 13.2%. Sales of lifestyle goods rallied thanks to Mother’s Day, but the sector’s year-on-year dip of 4.5% for the month was still the second worst on record. But the month’s two snowstorms affected online sales as well, with year-on-year growth of 11% the lowest monthly increase since December 2015. The news is likely to be little better looking ahead to April, with the tracker … [Read more...] about Beast from the East delivers biggest drop in high street sales in almost a decade