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 worldโs most dynamic retail markets.
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Oct- 2019 -29 OctoberShopping Centres
Sales and footfall up at Westfield’s UK centres
The owner of the Westfield shopping centres, Unibail-Rodamco (URM), has reported a 5.2% increase in tenant sales at its UK centres during Q3, also reporting a spike in footfall. For the three month period ending 30 September 2019, URM reported a 3.9% increase in footfall at its Westfield Stratford and…
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29 OctoberEconomy
Sosander shares jump as revenues surge 53%
Shares in Sosander PLC jumped 12 % in early trading on Monday (28 October) as the retailer reported a strong first-half revenue growth of 53%. For the half-year period ending 30 September 2019, Sosander posted an 84% increase in sales during its second quarter and 112% increase in September alone.…
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28 OctoberHigh Street
Forever 21 to shutter all UK stores next year
Fashion retailer Forever 21 has confirmed it will close its three UK stores in London, Liverpool and Birmingham next year. It comes after the parent company in the US filed for Chapter 11 bankruptcy, and Damian Webb and Allan Kelly of RSM Restructuring Advisory LLP were appointed as joint administrators…
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24 OctoberHigh Street
Sports Direct appoints RSM UK as new auditor
Sports Direct has announced the appointment of RSM UK Group as its new auditor with immediate effect. It ends a six-week hunt for a new auditor, after Grant Thornton announced it was stepping down from the position on 13 August 2019. At the time, the firm said โfollowing a review…
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24 OctoberPeople Moves
Debenhams poised to name Mark Gifford as new chairman
Debenhams is reportedly about to name Mark Gifford, former chief financial officer at House of Fraser, as its new chairman. According to Sky News, Giffordโs appointment as chairman of Debenhams holding company, Celine Holdings, could be revealed by the end of this week.ย His career included being the chief financial…
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18 OctoberSupermarkets
Walmart offloads Asda pensions amid IPO plans
Asda owner Walmart has reportedly struck a deal to offload ยฃ3.8bn worth of pension liabilities as it eyes a potential IPO. According to Sky News, Walmart and Asdaโs pension trustees have agreed a deal with specialist insurer of corporate retirement schemes Rothesay Life. The move will see the company take…
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18 OctoberEconomy
Retail footfall plummets as autumn begins
Footfall in non-food stores fell by 9.9% year-on-year in September, according to the Retail Traffic Index published by Ipsos Retail Performance. Compared with August, the average weekly footfall in the month fell by -7.3%. Additionally, the number of shoppers visiting the high street in London and the south east continued…
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15 OctoberComment
How can the high street survive?
Recent news that fast-fashion retailer, Forever 21 has filed for bankruptcy protection in Canada and the United States should have come as a shock. However, the latest high street casualty is just another name pending on a growing list. The troubles facing the UKโs retail sector are entrenched and well-publicised.…
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14 OctoberAdvice
Returns: Can you charge the customer?
“Can I charge for returns?” Wellโฆ Yes. But of course, it isn’t quite as simple as that. What to do about returns is one of the biggest challenges facing internet retailing. Fast fashion โ and ASOS in particular โ have struggled to deal with the increasing tendency for consumers (particularly…
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14 OctoberClothing & Shoes
Khaadi Fashion rescued after pre-pack administration
Asian clothing retailer Khaadi Fashion has been rescued after a pre-pack administration, saving the majority of its staffโs jobs. The Pakistani fashion and lifestyle brand was founded in 2013 and had operated from 10 stores nationwide in shopping centres such as Westfield London, Westfield Stratford, Bullring Birmingham and Trafford Centre…
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