Fashion retail giant Inditex said on Wednesday that its recovery is continuing to gain momentum with its sales, EBITDA and net income in the second quarter of its financial year reaching "historic highs”.
There are a lot of unhappy UK consumers who don’t feel Black Friday/Cyber Monday (BF/CM) discounts are all they’re cracked up to be. In fact, nine negative views are revealed in the 'Discounting Playbook' report.
Footfall across UK retail destinations dipped 4.2% week-on-week in the seven-day 5-11 September period, with shopping centres and retail parks bearing the brunt of the decline, latest Springboard figures show.
City centre retail has suffered from the pandemic as tourists haven’t returned in large numbers and office workers stay home. But there’s hope, with signs of office workers returning to semi-normal working patterns.
The number of fashion-focused shops on premier shopping thoroughfare Oxford Street looks like falling even further with news that IKEA is likely to take over the former Topshop flagship, in a key Oxford Circus position.
It looks like the battle to take over Morrisons will go to auction with the supermarket giant saying Wednesday it’s in talks with both the US private equity suitors that have tabled bids, along with the Takeover Panel.
Fresh from news of its link up with Secret Sales, on Tuesday Ted Baker issued a Q2 trading update and said that sales have been in line with expectations and it's seen a “significant improvement” in the full-price mix.
Chain store closures in the UK continued at an alarming rate in the first half of 2021, with fashion the biggest casualty. A total of 1,063 fashion stores closed in the first six months, alongside 120 department stores.
London’s West End continues to see footfall recovering with figures from the trade body that represents businesses in the neighbourhood – the New West End Company – saying the steady return of office workers is key.
A darker side to the UK retail revival is a warning of rising consumer debt. The fast-growing ‘buy-now, pay-later’ services in the UK now sees one in 10 consumers opting to buy goods using this form of arrangement.