Retail in 2022: Leisure explosion and flexible landlords will give the UK high street a much-needed boost this year January 11, 2022 Demand for property outside traditional retail and pragmatic landlords have given “renewed optimism” for some high streets and shopping districts despite the toll of the pandemic, according to industry experts. The pressure from lockdown measures, after a steady decline in recent years, saw vacancy rates across shopping destinations hit record levels in the second quarter [...]
Union seeks urgent meeting with Unilever for ‘cast iron guarantee’ of factory workers’ futures November 19, 2021 Unite the Union has called for urgent talks with Unilever after it announced the sale of its tea business to a private equity firm. Unilever confirmed the £3.79bn sale of its tea division – including household names such as PG Tips and Lipton – to CVC yesterday following an auction process. Unite pointed to CVC’s [...]
Exclusive: The pandemic showed the limitations of an online-only model, says retail guru November 17, 2021 A year of enforced change in buying habits where pretty much everything went online has reverted to ‘the new normal’. The Covid pandemic accelerated the shift to online; but is the future of retail really digital only? While in the short to medium term, there will remain some concerns over the logistics of browsing and [...]
M&S shares surge more than 15 per cent following full year profit hike November 10, 2021 Marks and Spencer (M&S) has lifted its full year profit expectations as the high street retailer looks to expand its store offering – and take over six former Debenhams sites. Shares surged a massive 15.76 per cent to 225.10p per share by mid-morning, boosting the entire market. “The shares have come roaring back from the [...]
Tech industry jargon is full of hot air and keeps public valuations sky-high October 15, 2021 It was the presentation that cost £1.85bn. On Tuesday morning, Matt Moulding, the CEO and founder of The Hut Group, addressed his shareholders, attempting to reverse a precipitous slide in the company’s share price. It didn’t go well. Just hours after his presentation ended, the firm had lost another third of its value. The Hut [...]
Covid pandemic accounts for around 15 per cent drop in retail footfall October 7, 2021 Retail footfall continued to strengthen in September, with analysts estimating that the Covid pandemic had caused around a 15 per cent drop in footfall. In September, footfall was down 17.4 per cent on 2019 levels, compared to being down 18.6 per cent in August, according to fresh data from Springboard. Footfall declined from 2019 by [...]
Debenhams launches new online marketplace following Boohoo takeover October 5, 2021 Debenhams has launched a new online marketplace following its takeover by Boohoo earlier this year. It comes after Debenhams, once a historic high street staple in the UK, ended up another casualty of the pandemic that drove shoppers to the digital sphere. The website, launched by marketplace software as a service (SaaS) platform Mirakl, will [...]
Debenhams launches marketplace powered by the firm behind Boohoo’s site – CityAM : CityAM October 5, 2021 Debenhams has launched a new online marketplace, powered by the same firm behind Boohoo’s website. It comes after Debenhams, once a historic high street staple in the UK, ended up another casualty of the pandemic that drove shoppers to the digital sphere. Also Read: Boohoo to bolster Debenhams stores and e-commerce sites in the Middle [...]
Boohoo shares slump as profit dwindles from pandemic highs September 30, 2021 Boohoo’s shares sank as much as 15 per cent today, after the fast fashion retailer reported profits were down on last year’s pandemic highs, as increased operational costs slightly offset business gains. The e-commerce giant announced this morning that revenue surged 20 per cent in the six months ending 31 August, with sales jumping to £975.9m [...]
High street gaps filled by independent businesses as chains suffer September 16, 2021 Independent shops are filling gaps on high streets left after the shuttering of chain stores, recording their first rise in numbers in four years. Some 804 locally run convenience stores, barbers, bakers, cafes and fast-food outlets opened in the first half of 2021, according to Local Data Company (LDC) analysts. While local retailers enjoyed new [...]