Oxford Street
This coverage focuses on retail developments along Oxford Street, examining store openings and closures, pedestrianisation plans, investment activity, and shopper footfall trends. Reporting highlights how major retailers, landlords, and city planners respond to evolving consumer behaviour and urban regeneration — offering insight for executives, property managers, and professionals navigating strategies in London’s premier shopping corridor. For example, recent analysis shows vacancy rates dropping to 1.35 % amid flagship redevelopments like 340 Oxford Street.
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Oct- 2024 -25 OctoberNews-In-Brief
Today’s news in brief-25/10/24
Boohoo has countered Frasers Group’s claims of “stone-walling” regarding the latter’s push to install Mike Ashley as Boohoo’s CEO. In response to an open letter from Frasers, which accused Boohoo’s board of hindering its proposals and expressed dissatisfaction with Boohoo’s recent debt refinancing, Boohoo stated that Frasers’ preference for Ashley…
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25 OctoberDepartment Stores
John Lewis to invest £800m in store renovations over next four years
John Lewis has announced an £800m investment to enhance the group’s stores over the next four years, with the makeovers to its flagship store on Oxford Street and its High Wycombe and Cheadle locations being the first to be completed. While each store so far has gained new and bigger…
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11 OctoberDepartment Stores
Ikea sales dip 5.3% in FY24 after cutting prices
Ikea has seen a 5.3% decrease in retail sales to €45.1bn (£37.7bn) for its 2024 financial year as it “substantially” lowered its prices across 63 markets. However, as a result of the price decreases, the retailer saw a 4.5% upward trend both in store visitation and a 21% increase in…
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7 October
Today’s news in brief-7/10/24
Mulberry founder Roger Saul has suggested that luxury retailer Mulberry might be a better fit with European luxury group LVMH rather than Mike Ashley’s Sports Direct, following Ashley’s unsuccessful £83m bid to acquire the company. Saul, who founded Mulberry in 1971, emphasised that the brand had drifted from its original…
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7 OctoberClothing & Shoes
Footasylum secures £35m funding package for expansion
Footasylum is set to accelerate its growth plans across the UK and beyond after securing a £35m revolving credit facility (RCF) from HSBC UK. Footasylum was acquired by Aurelius, a global alternative investor, in August 2022. Since then, the company has embarked on a strategic store opening and upsizing programme,…
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Sep- 2024 -24 SeptemberNews
New retail concept Future Stores to open in Oxford Street
A brand-new concept in retail media, called Future Stores, that creates 40 jobs, will open on Oxford Street on 30 October 2024. The 435m2 store, situated at 95 Oxford Street and spread across a full street block, blends the worlds of media, retail, and digital performance marketing together for the…
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18 SeptemberClothing & Shoes
Footasylum profits double to £6m in ‘record’ FY results
Footasylum has reported that its profit before tax more than doubled, rising 112% to £6m during the period ended 27 January 2024, marking another year of record growth. The group also reported record revenues, which increased by 7% to £319.5m, with EBITDA rising 41% to £22.5m and operating profits rising…
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17 SeptemberNews
Today’s news in brief-17/9/24
THG (The Hut Group) has announced plans to potentially demerge its technology arm, THG Ingenuity. This move follows the group’s interim results for the half-year ending June 30, 2024, which showed a 1.6% rise in adjusted EBITDA despite a 3.6% decline in year-on-year sales. THG Ingenuity saw a notable 12.6%…
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17 SeptemberGovernment
Sadiq Khan unveils plans to pedestrianise Oxford Street
The mayor of London, Sadiq Khan has again set out proposals to transform Oxford Street, including turning the road into a traffic-free pedestrianised avenue, in a bid to make it the “leading retail destination in the world.” The mayor has previously tried to implement major changes to Oxford Street, but…
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12 SeptemberDepartment Stores
John Lewis narrows pre-tax losses to £30m
The John Lewis Partnership has revealed that its losses-before-tax closed to £30m, down from £59m, a decrease of 49%, for the 26 weeks ended 27 July 2024. Alongside this, the retailer’s losses-before-tax and exceptional items reduced by 91% from £57m down to just £5m. Overall, the company’s total revenue rose…
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