Store Closures
This coverage examines store closure trends within the UK retail sector. Reporting highlights closure driversโsuch as lease negotiations, underperformance, and market shiftsโimpact on regional footfall, staff restructuring, and lease or property plans. Content is tailored for retail directors, operations managers, and property teams managing portfolio optimisation and change strategy.
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Apr- 2021 -13 AprilClothing & Shoes
Quiz revenues plummet 66% amid store closures
Quiz has revealed that total revenues plummeted 66% to ยฃ39.7m in its FY21 trading update, as the fashion group was impacted by prolonged periods of store and concession closures. The group also cited the pandemicโs โdetrimentalโ impact on demand for its trademark occasionwear, as social events and activities came to…
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12 AprilDepartment Stores
John Lewis to suspend store closures
John Lewis has confirmed that it has no plans to close any further stores, according to The Times.ย Executive director Pippa Wicks insisted the chain will not close any more shops and defended its strategy to date, following news that eight John Lewis sites would not reopen post-lockdown.ย According to…
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8 AprilComment
Why retail store closures donโt have to be bad for business
It is no secret that the retail sector is facing somewhat of a crisis, with a number of leading retail chains โ including Arcadia Group, M&Co, Harveys Furniture and Monsoon, amongst others โ entering administration or shuttering up for good in the midst of the global pandemic.ย While for many…
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Mar- 2021 -19 MarchClothing & Shoes
Nike global revenues up 3% as online helps offset store closures
Global sportswear giant Nike has revealed that its revenues for the third quarter of the year were $10.4bn (ยฃ7.4bn) up 3% compared to the prior year. The retailer revealed that despite a large portion of its store estate in Europe remaining closed during the final two months of the quarter,…
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Feb- 2021 -4 FebruaryLuxury Goods
โRobustโ online sales offset store closures at Watches of Switzerland
Watches of Switzerland has welcomed a period of strong trading in its third quarter ended 24 January 2021, with group revenue up by 6.6% to ยฃ272.6m despite the ongoing pandemic. This was bolstered by a โrobustโ e-commerce performance in the UK, which offset continued store closures throughout the period.ย UK…
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Jan- 2021 -15 JanuaryDIY
Dunelm revenues up 11% despite store closures
Homeware retailer Dunelm has reported an 11.8% increase in revenues for the 13-week period ended 26 December 2020, despite having the majority of its stores closed due to Covid-19 restrictions. Dunelm reported revenues of ยฃ360.4m during the period, which the retailer said reflected the fact that despite restrictions consumer demand…
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14 JanuaryClothing & Shoes
Primark predicts ยฃ1.1bn sales loss amid store closures
AB Foods, the owner of clothing retailer Primark, has issued a warning of a hit from lost retail sales of more than ยฃ1.1bn, if Covid-19 lockdowns continue through to the end of February. Currently, 305 of its 389 shops around the world are closed which is expected to cost ยฃ1.1bn…
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Dec- 2020 -11 DecemberHigh Street
McColl’s revenue tops ยฃ1.25bn despite store closures
McCollโs revenue has increased by 2.3% to ยฃ1.25bn this year in light of โstrong demandโ during the pandemic, according to the groupโs full year trading report. In the year ended 29 November 2020, the convenience retailerโs like-for-like sales surged by 12%, due to a โstrong performanceโ across its food, drink…
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Sep- 2020 -21 SeptemberComment
The window of opportunity for pop-ups
The Coronavirus pandemic and subsequent events of this year have exacerbated the ongoing decline of the British high street, with footfall falling by 81% in April and 48% in July, according to the British Retail Consortium. From John Lewis to Carphone Warehouse to House of Fraser, it seems that no…
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9 SeptemberClothing & Shoes
Quiz sales plummet, store closures anticipated
Fashion retailer Quiz has revealed its sales have been โsignificantly impactedโ by the pandemic, with total sales falling by 77% to ยฃ12.8m between 1 April and 31 August. Its website sales totalled ยฃ4.9m in the period, marking a 45% decline against the ยฃ8.9m reported the year before.ย Sales through third…
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