Oxfam's shop profits fall 23% and BHF is to close 150 stores even though secondhand clothes spending has QUADRUPLED

Oxfam's retail profit fell to £4.9m last financial year — down from £6.4m — as platforms such as Vinted and Depop drew donors away from high-street donation bins toward direct peer-to-peer sales. Cancer Research UK and Scope are also shutting stores, while UK secondhand clothing spending has rocketed to £8.8bn a year, none of which is reaching charity tills.

British Heart Foundation, the largest charity retailer in the country, has unveiled plans to shut 150 stores following losses across those outlets.