By: Helen Cahill

I report on retail and property for City A.M. I have covered the investigation into BHS and London's housing crisis. You can email me on helen.cahill@cityam.com with tips or commentary.

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M&S pay row intensifies as workers and management engage on proposals this week

August 10, 2016

M&S management are set to respond to staff concerns about cuts to premium pay this Thursday, City A.M. understands. M&S are planning to remove extra pay for employees working on Sunday and have been hearing alternative proposals from staff as part of an ongoing consultation. Read more: M&S accused of threatening to sack staff who reject [...]
Central London shops crowned “safe haven” investments – but prime residential prices continue to fall

August 9, 2016

Central London shops have been a "safe haven" for investment after the Brexit vote – but prices for high-end homes in central London have been falling. Investors bought up £1bn worth of prime retail property in central London during the first half of the year, according to CBRE – and total investment is set to [...]
New Look sales and revenue drop as gloomy market conditions weigh on the company

August 9, 2016

New Look posted a disappointing set of results this morning, announcing a drop in sales and revenue. The figures New Look's UK like-for-like sales fell by seven per cent in the 13 weeks to June 25, and overall revenue fell by 4.2 per cent to £354.2m. Adjusted operating profit was also hit, down by 29 per cent to [...]
Boohoo’s share price reaches an all-time high after it upgrades forecast

August 9, 2016

Online fashion retailer Boohoo's share price climbed 5.47 per cent in early morning trading, reaching an all-time high of 78.68p, after the company revised its expectations for the year upwards. The board announced its results for the current year will be "above expectations", with sales growth between 28 per cent and 33 per cent – up from an anticipated [...]
Savills’ share price edges up on dividend hike and strong revenue growth

August 9, 2016

Savills' share price benefited from a strong set of results and a divident hike this morning, as the estate agent asserted its "resilience" in the aftermath of the Brexit vote. The company's share price was up 1.02 per cent in morning trading. The figures Revenue at Savills was up 14 per cent, increasing from £547m in 2015 to £627.7m this year. [...]
Rents continued to climb in July – but the rate of growth is slowing

August 9, 2016

Rents kept climbing in July – but the rate of growth is cooling in the second half of the year. According to data from Homelet, rents agreed on new tenancies in the UK over the past three months increased by 2.3 per cent as compared to the same period last year – excluding London. Read [...]
Consumers hit the pub after the Brexit vote as spending on big-ticket items cooled

August 9, 2016

Consumer spending growth has slipped after the Brexit vote, but people are still willing to shell out for beer and restaurant meals, according to data released today. According to Barclaycard, consumer spending cooled to 2.6 per cent in July, but the urge to hit the pub could not be resisted; spending in pubs, restaurants and [...]
Online sales grew in July as store sales fell – despite desperate discount offers from retailers

August 9, 2016

Online sales performed well in the past three months, but store sales declined as retailers struggled to lure shoppers onto the high street with discount deals. In the three months to July, the online sales of non-food products grew 11.1 per cent as compared to the same period last year, according to research by the British [...]
Savills investment management launches €300m fund

August 8, 2016

Savills investment management has launched a €300m fund on behalf of two Italian investors. The Mercury fund has been launched for CONAD, the largest independent retailer consortium in Italy, and the Italian insurance group Gruppo Cattolica Assicurazioni. The fund will allow three CONAD cooperatives to sell and lease back retail properties across central and northern Italy on long-term leases, [...]
Office capital values in the City of London hit after the Brexit vote

August 8, 2016

Commercial property capital values fell in July due to heightened uncertainty after the Brexit vote, and offices in the City of London were the worst hit. Capital values fell by 3.3 per cent, according to CBRE's monthly index, with the value of offices in the City of London falling by 6.1 per cent. Read more: Commercial and City [...]

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By: Helen Cahill

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