London
This coverage focuses on retail activity, trends, and developments in London, a central hub of the UK retail industry. Reporting highlights flagship store openings, property developments, regional economic factors, consumer behaviour, and strategic moves by both international and domestic brands. Tailored for retail executives and managers, it offers insights into operating and competing in one of the world’s most dynamic retail markets.
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Jan- 2021 -25 JanuaryBusiness Bites
Five retailers who excelled during the Christmas season
Asos Asos has gone from strength to strength in the past few years with this year being no different. Over the peak festive season it saw its sales increase by 23% to £1.32bn from £1.074bn the previous year, which the group claimed was due to support by investors who…
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25 JanuaryCoronavirus
Waterstones boss warns of closures unless gov extends rates relief
James Daunt, the boss of book retailer Waterstones, has warned that he could be forced to close stores unless the government extends its business rates relief and other forms of state aid. Talking to Retail Week, he said that while he has no intention to close stores currently – it…
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25 JanuaryM&A
Asos joins the Topshop race
Asos has emerged as a contender to acquire Topshop, just days after highstreet retailer Next was forced to pull out of the race. In an update to the London Stock Exchange, the digital fashion retailer confirmed that it was in “exclusive talks” with Arcadia administrators to purchase the Topshop, Topman,…
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20 JanuaryOnline & Digital
Moonpig confirms £1.2bn stock market float
Moonpig, the internet greetings cards and gifts retailer, has confirmed plans for a £1.2bn float on the London stock exchange. Exponent, the private equity firm that bought Moonpig in 2016, is set to flat in excess of 25% of the company, while fund manager Blackrock and tech investor Dragoneer Global…
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19 JanuarySupermarkets
Aldi increases minimum wage to £9.55
Aldi has announced it is increasing its minimum hourly rate to £9.55 an hour nationwide, exceeding the Living Wage Foundation’s latest recommended pay rates. According to the supermarket, these changes mean that store colleagues across the UK will earn a minimum of £0.83 more per hour than the current national…
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18 JanuaryClothing & Shoes
Dr. Martens to float on London Stock Exchange
Dr. Martens has announced its intention to float on the London Stock Exchange, with admission currently expected to occur in early February 2021. The shoe retailer has confirmed its plans to apply for admission of the company’s shares to the premium listing segment of the Official List of the FCA.…
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15 JanuaryShopping Centres
Hammerson CFO steps down
Hammerson has announced that James Lenton will step down as the company’s chief financial officer. Lenton informed the shopping centre operator’s board of directors of his decision to leave the position earlier this week. Despite departing Hammerson, Lenton will continue as the company’s CFO and as a non-executive director until…
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13 JanuaryDepartment Stores
Debenhams to shutter six stores, 320 jobs affected
Debenhams has announced that six of its sites will no longer reopen this year, as part of the group’s ongoing winding down and stock liquidation process. In a statement released today (13 January), the group confirmed the move will affect 320 roles within its business. Debenhams said that while it…
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12 JanuaryProperty
Landsec collects only a third of December retail rent
UK landlord Landsec has revealed it has only managed to collect just over a third of the rent owed by retailers during the month of December. In a rent collection update posted by the landlord, Landsec revealed it had received just £5m of the £14m expected from its regional retailers…
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12 JanuaryOnline & Digital
The Hut Group revenue soars ahead of guidance in Q4
The Hut Group has announced that revenue soared by 51% to £558.7m in the three months ended 31 December 2020, outperforming a previous guidance of 40% to 45% growth. Revenue guidance was initially estimated to be 16% to 25%, but was raised last month following a “strong” peak trading performance…
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