Debenhams will exit the UK high street for good on May 15 as the administrators close its remaining stores. The closures will end more than 200 years in which the company has been a major name in UK retail.
It’s a factor guaranteed to dent consumer enthusiasm. Bad weather. Footfall across all UK retail destinations declined by 2% week-on-week in the seven days between Sunday 25 April and Saturday 1 May, reports Springboard.
Alarm bells are continuing to ring over the future of Britain’s retail industry. Despite a positive return for non-essential retail in England, Wales and Scotland so far, more store closures are due in the months ahead.
Alibaba’s Taobao Live is investing more heavily in livestreaming, a step that should boost its revenues and increase pressure on other e-tailers around the world to increase their livestreaming offers.
Ultra-luxe label Hermès has unveiled a newly transformed flagship in Beijing's China World Trade Centre. It covers two floors and more than 900 sqm with an “eye-catching façade that beckons from afar”.
As expected, a poor performance from its retail operations hit the Grosvenor Group in its latest trading year as the pandemic caused the high-end property business to swing to its first loss since the financial crisis.