Thank God it’s Black Friday – why retailers need price transparency to make a success of the festive season November 19, 2018 During the early days of what quickly became known as the “retail apocalypse” back in 2010, a commentator or retailer would come out in the press and say that all the doom and gloom was overstated. The sector, they’d argue, was merely riding out a bumpy stretch of road, and would undoubtedly emerge on the [...]
London pub and restaurant sales buck the trend as casual dining chains struggle to stand out November 19, 2018 Pub and restaurant groups in the capital delivered “relatively healthy” like-for-like sales in October, but growth remained flat across the rest of the country. Overall like-for-like sales grew 2.5 per cent in London, compared with a 0.5 per cent fall outside the capital. Sales in managed pubs and bars were ahead of restaurants, increasing 3.6 [...]
Cash machine ruling hits London councils with £60m rebate November 19, 2018 London councils are to cough up a hefty rebate to retailers following a recent court ruling that decided firms should not be liable for business rates on cash machines outside their stores. Nearly 2,400 supermarkets, small shops and petrol stations are set for a £60m windfall from London’s councils following a five-year legal dispute which [...]
Evans Cycles set for closures in spite of ‘profit’ November 18, 2018 Sports Direct owner Mike Ashley is set to close a swathe of Evans Cycles stores in spite of recent suggestions that most of its outlets turn a profit. The retail magnate has warned that he might only be able to keep half of Evans Cycles stores open in the future “in order to save the [...]
Barber boom bucks high street struggles as demand for male hair grooming jumps November 18, 2018 A boom in barber shops is helping to revive the stricken high street, fuelled by the growing demand for hipster beards. Male hair grooming is now one of the fastest-growing retail sectors, as young men – especially workers in the City – care more than ever about the state of their face fuzz. The rise in [...]
J. Crew chief executive steps down despite successful relaunch November 18, 2018 The chief executive of clothing brand J. Crew is stepping down after just 17 months in the role, the company said yesterday. James Brett, who joined the retailer in July last year, will step down with immediate effect after reaching a mutual agreement with the board of directors. Brett had been at the forefront of [...]
Gambling Commission searches for the National Lottery’s next operator November 17, 2018 The UK Gambling Commission is seeking bidders for the National Lottery, as the current agreement with Camelot is set to end in 2023. The Commission wants the next operator to continue improving the lottery by introducing new ideas and innovations while also maximising its potential to help charitable causes. Camelot has been the only operator since the [...]
Beyonce buys out Ivy Park clothing brand from Topshop billionaire Sir Philip Green November 15, 2018 American singer Beyonce has severed ties with embattled Topshop billionaire Sir Philip Green by buying out his share in their fashion label Ivy Park. Beyonce and Sir Philip launched the gymwear venture in 2016 and the label is sold in Topshop, which is owned by Green’s retail empire Arcadia. But the global pop star has withdrawn [...]
Property firm Crosstree buys Edmonton Green shopping centre for £72m November 15, 2018 Real estate firm Crosstree has bought Edmonton Green Shopping Centre in north London for £72m, the company said today. The property firm, which co-owns retail space in the O2 arena, said it has exchanged contracts with owners St. Modwen for the 495,000 square feet (sq ft) shopping centre in Edmonton. The shopping centre, which sits on [...]
Debenhams supplier issue could be ‘nail in the coffin’ for department store November 15, 2018 Supplier problems that have reportedly hit Debenhams could be the “nail in the coffin” for the embattled department store, according to industry experts. A number of high street suppliers stopped working with the 240-year-old store after credit insurers reduced their protection, trade magazine Drapers reported. “They really need to implement strategic change in the business, [...]