Political and economic uncertainty pushes retail footfall down by 2.3 per cent October 24, 2022 Political uncertainty and economic instability contributed to a dip in retail footfall, with high streets being hit the hardest. Across the UK as a whole, there was a marked decline in footfall for retailers by 2.3 per cent last week, New figures from Springboard show. The data shows in the three retail sectors, high streets, [...]
High street firms face ‘battle’ to recruit staff after labour pool shrinks October 18, 2022 High street businesses are facing a “battle” to recruit staff against the backdrop of a shrinking workforce, with many workers having left the country or unable to work due to sickness. Industry chiefs lamented the vacancy crisis facing businesses ranging from retailers to restaurants to care homes at a committee meeting of the economic affairs [...]
Former Boots exec in talks to join oligarch linked investment fund LetterOne September 26, 2022 A former executive at the firm that owns Boots is in talks to join the board of Russian oligarch Mikhail Fridman’s Luxembourg headquartered investment vehicle LetterOne. Former Walgreen Boots Alliance co-COO Alex Gourlay is in advanced talks to become a non-executive director at LetterOne after stepping down from the pharmacy owner earlier this year, [...]
1 in 3 high street businesses miss out on rates relief September 20, 2022 The Government failed to support a third of high street businesses in England promised a discount on their business rates bills, according to new data. Property specialists at Gerald Eve found that just 272,000 out of a promised 400,000 retailers, leisure and hospitality venues were able to claim a 50% discount on the commercial property tax announced [...]
Store closures at lowest rate in seven years as high street bounces back August 29, 2022 Store closures are at the lowest rate in seven years, despite the increasing pressure on the high street.
High Street footfall nosedives by staggering 25 per cent with London commuters and foreign travellers not returning June 27, 2022 High street footfall fell 25 per cent in May, from the previous month, according to RSM UK’s analysis of the latest data from Datscha, published this morning. London continues to be hit by hybrid working with less workers commuting into the city, and international and business travel is still not back at full capacity. Whereas [...]
The Works brings back dividend as demand for cheap books and Peppa Pig toys boosts sales May 20, 2022 Discount retailer The Works has reinstated its dividend after telling investors its sales are now significantly higher than at pre-pandemic levels, on the back of a record Christmas and booming demand for books. The firm said it had capitalised on the “BookTok” trend on social media platform TikTok to boost sales of its discount [...]
Makeup seller Revolution Beauty’s sales soar after Boots picks up products May 6, 2022 British makeup seller Revolution Beauty Group today vowed to continue selling “quality products at affordable prices” as the firm said strong demand for “mass market beauty” led to its earnings increasing by 73 per cent year-on-year. The cosmetics firm said its UK sales increased 85 per cent over the previous year, following the successful rollout [...]
The Works has ‘record’ Christmas as it beats pre-pandemic levels January 21, 2022 The Works reported a revenue hike this morning, up 30.6 per cent, and increasing 17.9 per cent compared to pre-pandemic performance.
Retail in 2022: Leisure explosion and flexible landlords will give the UK high street a much-needed boost this year January 11, 2022 Demand for property outside traditional retail and pragmatic landlords have given “renewed optimism” for some high streets and shopping districts despite the toll of the pandemic, according to industry experts. The pressure from lockdown measures, after a steady decline in recent years, saw vacancy rates across shopping destinations hit record levels in the second quarter [...]