Empty stores on Oxford Street rise by a fifth in six months June 10, 2021 The number of empty stores on Oxford Street has risen by nearly a fifth since the start of 2021, as pandemic-led lockdowns took a toll on the high street. Some 17 per cent of stores on London’s most famous street have closed since January, according to research by Property Week. Among the most famous and [...]
Klarna snaps up London ecommerce tech startup Hero July 11, 2021 Klarna has acquired London-based ecommerce tech startup Hero in a deal worth a reported $160m (£115m). Hero, which was founded in 2015, offers virtual shopping services to retailers and counts Harvey Nichols, Levi, Nike and JD Sports among its clients. Klarna said it will introduce Hero to its 250,000 retail partners, allowing them to access [...]
Demand for London retail space slumps as high street woes deepen | City A.M. July 19, 2018 Demand for retail space in London has dived as woes around high street closures grow, according to a highly-regarded survey out today. Roughly 68 per cent more chartered surveyors in London’s retail sector noted a quarterly fall, rather than a rise, in demand for space in the capital, reaching levels not seen since 2008. The [...]
Hilton Food Group revenue surpasses £3bn amid vegan and vegetarian boom April 6, 2022 Hilton Food Group’s revenue has surpassed its pandemic figure, due in part to the boom in vegan and vegetarian food demand. Revenue jumped more than 21 per cent to £3.3bn in the year to 2 January, up from £2.7bn in 2020, according to the group’s preliminary results today. Growth in its protein categories fuelled the [...]
Boots, boost: Doc Martens profits up with stores reopening July 29, 2021 Dr. Martens saw a strong first quarter with a significant increase in revenue, even compared to pre-pandemic levels, due to the reopening of stores and continued digital growth. The British bootmaker a revenue of £147.3m for the three months to June 30, a 52 percent increase compared to the same period last year and 31 [...]
Crypto.com snaps up two exchanges from IG Group for $216m December 1, 2021 Crypto.com plans to purchase two exchanges from London-listed fintech IG Group in a $216m deal expected to close in the next six months.
UK housing market shows signs of stability with Brits’ reluctant to spend April 21, 2022 The UK’s housing market could be returning to stability, say analysts, before deals pick up as warmer weather blankets the country. Residential transactions for March have plunged more than a third in comparison with the same month last year, according to the government’s latest figures, after a continued, pandemic-era, buying frenzy. Although deals have climbed [...]
Rain rain go away: Wettest May on record dampens footfall hopes for high streets June 3, 2021 The reopening of indoor dining and socialising did not serve up the hoped for rise in footfall in May, as shoppers were put off by rain and ‘rule of six’ limitations. The wettest May on record saw footfall on high streets, in shopping centres and in retail parks fall versus the same period in 2019. [...]
London markets whacked by AO World tumbling on supply chain profit hit November 23, 2021 Supply chain snarl ups and soaring costs have whacked AO World’s profits, sending the online electricals retailer’s shares tumbling, dragging the mid-cap FTSE 250 down with it this morning. In the first hour of trading, London markets plunged into the red, with the capital’s premier FTSE 100 index dropping 0.59 per cent to 7,212.35 points, [...]
Atom Bank boss on rapid growth, London IPO and why high street challengers are a ‘dying breed’ March 24, 2024 City A.M. speaks to Atom Bank CEO Mark Mullen about the challenger bank landscape, his firm's rapid growth and plans for a London IPO.