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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Mar- 2024 -6 MarchDepartment Stores
John Lewis staff pay to rise 10% amid £116m investment
John Lewis Partnership reportedly has plans to boost staff pay by 10% as part of a £116m investment, according to Retail Week. The Waitrose owner will reportedly confirm the “record” pay increase when it releases its latest full-year results next week on 14 March. From 1 April, the minimum pay…
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6 MarchSupermarkets
Tesco raises pay by 9.1% amid ‘record’ £300m investment
Tesco has increased base pay for staff by 9.1%, amid a “record” investment of more than £300m in hourly pay.The supermarket reached an agreement with trade union USDAW that will see the hourly pay rate increase from £11.02 to £12.02. The new rate will come into effect from April 2024. …
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5 MarchFeatures
What are the effects of VAT taxes on the tourism industry?
The term “tourism tax” has recently been used to refer to taxes imposed on goods and services supplied to international tourists. Up until 31 December 2020, VAT-free shopping enabled international visitors in the UK to get a VAT refund on goods purchased in the UK, making them 20% cheaper. Recently,…
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5 MarchClothing & Shoes
Arc’teryx opens flagship in Covent Garden
Arc’teryx, the high-performance outdoor apparel brand, has now opened its new flagship store within the newly refurbished listed building at 41-42 King Street in Covent Garden. This follows previous success on Long Acre and represents a milestone within the brand’s brick-and-mortar journey. Arc’teryx’s new flagship store spans 8,000 sq ft…
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5 MarchElectrical
Currys invests £13m in staff pay boost
Currys has announced a further boost to pay with a new £13m investment which will see all hourly paid staff receive a higher hourly rate, alongside a bonus programme. Store-based employees will now be able to earn on average £12.33 per hour, with top performers on £13.95 an hour on…
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5 MarchHigh Street
Greggs profits and sales soar in FY23
Greggs has reported pre-tax profits of £188.3m for the 52 weeks ended 30 December 2023, compared with £148.3m from the previous year. Its sales also increased 19.6% to £1.8bn and its underlying profit before tax excluding exceptional income was up 13.1% to £167.7m. The group opened a “record” 220 new…
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4 MarchNews
Today’s news in brief-4/1/24
M&S emerged victorious against Michael Gove’s decision to block its redevelopment plans for its Marble Arch flagship branch. The High Court ruled that Gove’s decision was “unlawful” and had misinterpreted planning policy. This decision paves the way for M&S to proceed with its plans, which include demolishing the existing Art…
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4 MarchFeatures
A history of John Lewis
In the busy British retail landscape John Lewis stands out as a high street stalwart. From its humble beginnings as a drapery shop in Victorian-era Oxford Street to its evolution into a nationwide chain of department stores, the history of John Lewis is a testament to the enduring values of…
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4 MarchDepartment Stores
M&S CEO calls for business rates and apprenticeship levy reform
M&S CEO Stuart Machin has publicly called for Chancellor Jeremy Hunt to introduce reforms to business rates and the apprenticeship levy in his upcoming budget. In a post on LinkedIn, Machin stated that the government must do more to understand the importance of retail. He has urged the chancellor to…
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4 MarchSupermarkets
M&S wins Marble Arch legal battle
The High Court has ruled in favour of M&S’ redevelopment plans of its Marble Arch flagship branch, having called Michael Gove’s decision to block the plan “unlawful”. News of the outcome follows the retailer’s launched planning appeal last month. It comes after the secretary of state’s decision to reject plans…
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