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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Aug- 2022 -22 AugustNews
M&S rejects complaints for Oxford Street redevelopment
Marks and Spencer (M&S) has reportedly addressed complaints surrounding its Oxford Street redevelopment plans by pledging that 95% of the materials in the existing Marble Arch building will be recovered, recycled or reused, amid opposition to plans to flatten the shop. According to the Guardian, the retailer has promised that…
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22 AugustClothing & Shoes
Next increases stake in Reiss to 51%
Next has reportedly upped its stake in Reiss to 51%, having previously acquired a 25% equity stake in Reiss back in March 2021, which was valued at around £200m, as part of a long-term, “strategic” partnership. It is reported that Next would’ve had an option to acquire an additional 26%…
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18 AugustEconomy
Made.com calls in advisers to shore up balance sheet
Made.com Group, the online furniture retailer, has reportedly called in advisers to help shore up its balance sheet as it plans for a share sale to raise approximately £50m, according to Sky News. The London-listed company has hired PricewaterhouseCoopers (PwC) to evaluate cost-cutting strategies and restructuring options. Made.com is said…
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17 AugustShopping Centres
Battersea Power Station adds further list of brands to portfolio
Battersea Power Station announced that it will be adding more leisure brands, which will be opening in the iconic Grade II-listed building and on Electric Boulevard, central London’s newest pedestrianised high street, from Autumn 2022. Amongst the line-up of new brands announced is Battersea Bookshop from specialist bookseller, Stanfords. The…
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16 AugustClothing & Shoes
Kick Game appoints PwC to explore £150m sale
Kick Game, a footwear reseller, has reportedly hired PricewaterhouseCooper (PwC) to explore options which could include a £150m sale, according to Sky News. Reports suggest Kick Game, which was founded in 2013, is working with the accountancy firm to field interest from a number of suitors. The process is expected…
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9 AugustGovernment
Retail Jobs Alliance calls on next PM to reduce business rates
The Retail Jobs Alliance, a coalition of retailers including Morrisons, Greggs and Tesco, has called on both Rishi Sunak and Liz Truss to pledge to cut business rates, which it said were “killing our high streets”. The group, also consisting of Co-op, Kingfisher,, RivingtonHark, Sainsbury’s, and Waterstones, said it feared…
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8 AugustClothing & Shoes
Joules confirms talks to sell minority stake to Next
Joules has confirmed in a statement that Next plc has been in negotiations for several weeks for the retail giant to acquire up to 25% of the smaller London-listed retailer. The statement confirmed Next’s plan to adopt its total platform services to support the group’s long term growth plans. Additionally,…
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4 AugustEconomy
Footfall declines in July as north-south divide grows
Footfall weakened in July to -14.2% below 2019 from -12.3% in June 2022 with the month’s performance also highlighting the growing divide between the north and south of the country, according to the latest data from Springboard. July saw a -17% decline compared with 2019 in high streets, a -18.6%…
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2 AugustFeatures
Plant Based World Expo offers key to increasing sales
Rise of the Flexitarian The plant-based food market has experienced extreme growth in the past five years, with sales of meat-free and plant-based dairy products roughly doubling. This growth has been accelerated by the pandemic, when improving health became priority number one for many people and reducing intake of animal…
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2 AugustEconomy
Women’s Euros final win boosts footfall post-match
High street footfall across the UK on Sunday was up by 4.4% against the previous week during shopping hours, as footfall was boosted by those visiting cities and large towns to watch the Women’s Euros final this year. According to Springboard, between the hours when the match was taking place,…
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