Oxford Street to welcome fashion brand Reserved amid revamp of retail district November 24, 2022 London’s Oxford Street is welcoming a new retailer to the block, as fashion brand Reserved has signed up for its second London store. GPE, formerly Great Portland Estates and one of the biggest property leasers in the capital, has signed a letting with Reserved for a more than 19,600 square foot space, which is expected [...]
Black Friday will have a black mark to its name if it ignores the climate question November 24, 2022 If you are walking past a colleague’s desk tomorrow, and their screen is full, not of the task due yesterday, but of Black Friday sales, they are one of the 76 per cent of customers hunting for discount deals. For some, the day of mega sales can be traced back to a Wall Street stock [...]
FTSE 100 closes higher despite yet more recession signals November 23, 2022 London’s FTSE 100 finished higher today despite yet more data signalling the UK is on a one ticket to recession. The capital’s premier index climbed 0.17 per cent to 7,465.24 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped 0.4 per cent to 19,500.5 [...]
Pets At Home: Animal ownership ‘not just Covid trend’ as profit slips November 23, 2022 The chief of Pets At Home has said pet owners are keen to treat their animals still, as the FTSE 250 firm posts subdued profit before tax. In interim results, the London-listed business posted underlying profit before tax of £59.2m, some 9.3 per cent below its previous half-year sum of £65.3m. Profit slipped due to [...]
New Bond St second priciest shopping street in Europe as West End hopes for Christmas rebound November 23, 2022 New Bond St has been dubbed as the second most expensive shopping street in Europe, missing out the top spot to Milan’s Via Montenapoleone. The new rankings from real estate services firm Cushman & Wakefield show a robust landscape for retail real estate, despite a torrid few years due to Covid. New Bond St boasts [...]
Cost of living crisis shocks AO World as electrical retailer’s losses swell November 22, 2022 Electricals retailer AO World has been shaken by the cost of living crisis sweeping the UK in recent months, as its revenue plunges and losses take hold. The London-listed company had already rolled out a streamlining operation, including shutting up shop in Germany, in a bid to slash overheads and shield revenue from rising inflation [...]
FTSE 100 weighed down by China Covid-19 jitters November 21, 2022 London’s FTSE 100 was today weighed down by the re-emergence of tough restrictions to tame Covid-19 in China over the weekend. The capital’s premier index edged 0.12 per cent lower to 7,376.85 points, while the domestically-focus mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.68 per cent [...]
These Are The Companies Offering Perks To Offset Cost Of Living Crisis November 21, 2022 It is no secret that it has been a tough year for workers. The cost of living looks set to get worse as rising prices for groceries and basic services, along with the huge cost of energy are biting deeply into disposable income. The Office of National Statistics (ONS) assessed web-scraped supermarket data for 30 [...]
Harrods sees £15m drop in business rates assessment as retail undergoes dramatic revaluation November 21, 2022 More than half a million retail properties across England and Wales have now been revalued with new rateable values, which will be used to calculate business rates liabilities from 1 April 20023 to 31 March 2026, having been published showing a fall of 10 per ccent overall for the sector. The Valuation Office Agency, an [...]
Chancellor ‘misses a trick’ by not re-introducing tax-free shopping for overseas tourists November 17, 2022 West End business leaders have slammed the Chancellor for not changing his mind on an introduction of VAT free shopping for overseas tourists. Despite calls from luxury retailers this month, Jeremy Hunt made no mention of the prospect of introducing tax-free shopping for overseas visitors making trips to London’s shopping heartlands. Last month, Hunt announced [...]