Hip, a UK high street chain owned by JD Sports, has launched an 80% closing down sale as it prepares to disappear from Britain for good. The brand operated two physical stores, in Manchester and Leeds, both of which stopped trading earlier this summer. The company said it would continue operations online, but JD Sports has now started a closing-down sale on Hip's website, with discounts up to 90% on some items.
Brand history and closure
JD Sports acquired the Hip brand in 2014, when it had just two shops in Manchester and Leeds. Hip stocked sportswear and fashion for men and women, featuring well-known sports brands such as Nike and Adidas, with products from both included in the closing down sale.
The closure follows financial difficulties at JD Sports, which resulted in the closure of 24 of its own stores. The retailer has said it is focusing on fewer but larger and better stores.
Financial performance and market challenges
In May, JD reported that its wider UK organic sales fell 2.5%, while like-for-like sales dropped 3.9%. The company also warned that geopolitical developments, including unrest in the Middle East, could adversely affect business. JD said the Iran war has had no direct exposure on the business so far, with only a handful of franchised stores in the region, but noted that heightened uncertainty could eventually contribute to direct cost pressures.
Sale highlights and high street concerns
Among the Hip discounts currently on offer are the men's Carhartt WIP Springfield Jacket, reduced from £270 to £100, and Edwin Cumo Shorts down to £25 from £120. For women, the sale includes Adidas Originals Handball Spezial Mesh trainers down to £25 from £90, and New Balance shorts down to £10 from £50.
Concerns about the health of the high street have been growing, and new British PM Andy Burnham has vowed to take action over suffering high streets. In January, ministers announced they would publish a High Streets Strategy designed to cut the number of vape shops, support pubs, and restore pride in communities.
