Westfield slashes loss ahead of huge funding boost Retail The company behind the Westfield shopping centres in London has recorded its lowest pre-tax loss since 2019 despite its turnover being slashed by over 30 per cent. Westfield Europe, which includes sites in Stratford and Croydon, has reported a pre-tax loss of £25.2m for 2023, according to accounts filed late with Companies House. The latest [...]
Mike Ashley’s Frasers bets big on brick-and-mortar with 1m sq ft of new shopping malls Business Mike Ashley-owned Frasers group has announced the acquisition of over one million square feet of retail space across three shopping centres in a huge new bet on physical retail. The shopping centres – in Exeter, Maistone and Gloucester – have a combined annual footfall of almost 17 million visitors and 1.015 million square feet. The [...]
Easing inflation helps retail footfall in August despite riots Retail Retail footfall in the UK was boosted by good weather and easing inflation in August, despite the effect of the violent riots which erupted earlier in the month. Total UK retail footfall fell by 0.4 per cent in August year-on-year, compared to an annual drop of 3.3 per cent in July, according to the British Retail Consortium (BRC). It’s [...]