Us versus them will do nobody any good on the High Street January 14, 2021 While a new year symbolises a fresh start for many, you could be forgiven for thinking you had been planted in the film Groundhog Day but instead the calendar was stuck in 2020. Perhaps nowhere is this more the case than in the retail and hospitality industry, with Lord Sugar’s legal challenge to the planned [...]
Debate: Should Primark open an online store? January 13, 2021 Overnight opening hours, queue-management systems and lashings of promotions – Primark did everything it could to keep its customers happy amid a year of on/off lockdown restrictions. But with parent company Associated British Food’s trading update out this week, is it time for the High Street phenomenon to go digital, too? Kam Phullar, Lead Strategist [...]
Retailers feel Tier 4 pain as footfall drops 40 per cent December 21, 2020 Retail footfall plunged by 40 per cent in the areas of England put under Tier 4 restrictions such as London, laying bare the impact of the restrictions on shop-owners during the crucial Christmas period. Prime Minister Boris Johnson on Saturday announced London and parts of the south and south east of England would go into [...]
Honda looks to restart production at Swindon plant on Monday December 10, 2020 Japanese carmaker Honda said that it would try to restart production at its Swindon plant on Monday after a shortage of parts forced it suspend activities. In a statement, the auto giant said: “Production is not running today or Friday with a view to restarting on Monday.” Output was halted yesterday after transport delays at [...]
Hurrah for a vaccine — but was lockdown actually worth it? December 9, 2020 The development of the vaccines has changed many things. It has even influenced the opinion of the Prince of Lockdown himself, health secretary Matt Hancock. Life, he pronounced at the weekend, would be back to normal by the spring and the “blasted regulations” abolished. But one thing has remained constant: the government’s continued refusal to [...]
Second national lockdown wipes £430m off Primark’s balance sheet December 4, 2020 England’s second national lockdown wiped an estimated £430m off Primark’s balance sheet, as the pandemic continues to decimate British high street retailers. Speaking ahead of Primark’s annual general meeting later today, chairman Michael McLintock said: “Our estimate for the loss of sales for the announced periods of closure this autumn is now some £430m.” The [...]
Covid-19 brings Arcadia into administration, but Topshop’s brand has struggled for years December 2, 2020 Retail group Arcadia, owner of British high street giants Topshop and Dorothy Perkins, hired administrators this week after the coronavirus pandemic “severely impacted” sales. The retail empire, which is owned by controversial businessman Sir Philip Green, failed to secure extra funding to pay its debts despite the Black Friday sales period. While the pandemic created [...]
Debenhams closure: What next for struggling retail landlords? December 1, 2020 Retail landlords are set to take a multimillion pound hit following the collapse of Debenhams and Arcadia’s fall into administration, and could struggle to fill the space left by closed flagship stores. Many property owners, which have already been impacted during the pandemic due to a spike in retail restructurings and renegotiated rents, will lose [...]
Wanted: Someone to take charge and save hospitality this Christmas December 1, 2020 The excitement is building, and it’s so close now: lockdown is about to be lifted, and at midnight tomorrow we will all slot into our allotted tiers. London will be in a freshly toughened Tier 2, with shops reopening and pubs and restaurants allowed to admit customers — but under complicated limitations. A few lucky [...]
Primark to reopen all stores in England with extended hours on 2 December November 27, 2020 Primark will reopen all of its stores in England when lockdown lifts next week, with extended opening hours to cope with higher demand ahead of the holiday season. The fast fashion giant has 153 stores in the country, 11 of which, including the White City store in west London, will open for 24 hours on [...]