Shares in JD Williams and Simply Be owner N Brown plunged over 22% in early trading Thursday after it predicted weaker profits in the 53 weeks to March 4 next year, due to issues from the supply chain to inflation.
Improving…could have been better…but will gains continue? That’s UK retail footfall, which strengthened in February. Figures improved to 20.7% below the 2019 benchmark and slightly up from -20.8% in January.
We hear a lot about the headline inflation figure, but more important for many consumers is the price of goods in stores and the latest BRC-Nielsen Shop Price Index showed annual store prices rising 1.8% last month.
Pepco’s British budget retailer Poundland has acquired online peer Poundshop.com and said the purchase would “power a national rollout of its own pilot e-commerce operation”.
Hammerson has completed the super-quick disposal of its Victoria Gate and Victoria Quarter shopping centres in Leeds. Only last week, the UK property giant said it was still in early stages of negotiations.
With stable weather patterns returning to the UK in the final full week of February, normality also returned to retail footfall. Visits across all UK retail rose 11.1% week-on-week in the seven days (20-26 February).
Danish e-bike brand Mate has opened a store in London’s Seven Dials, its first UK location. On Neal Street, it covers two floors and features the brand’s full collection.
Management of the failed Studio Retail Group (SRG) business has come in for scathing criticism from its new owner Frasers Group. It also called for urgent reform in UK corporate governance.
Supermarket clothing and homewares brand George at Asda has appointed Karl Doyle its new vice-president. The former Reiss director will join the George brand on 1 March, replacing Zoe Matthews.
UK retail gift card sales fell by 3.1% year-on-year in the second half making it clear that consumers are still favouring gift cards when buying presents for friends and family.
Primark seems to have almost fully recovered from the pandemic with a trading update on Monday showing sales and profit margins bouncing back.
Investment is continuing to flood into London’s West End to support a major regeneration of the UK capital’s premier shopping district following the pandemic. A new scheme will see £1 billion pumped into the region.
Stockmann — owner of its eponymous department stores and the Lindex brand — said 2021 was a year of “a strong turnaround”, with both divisions buoyant in Q4 and Lindex seeing its best-ever full-year figures.
Studio Retail only appointed administrators this week but it’s already been sold. And the new owner is Frasers Group. The Mike Ashley-led retail giant already owned an almost-30% stake pre-administration
It’s a busy time for Authentic Brands Group. On the same day as it announced its New Guards link-up for Reebok, it also revealed a major new strategic partnership with David Beckham.
