We know trading in January was a washout for non-essential store retailers. Just how much was underlined on Friday with BDO saying it was the worst January on record.
Nearly a third of fashion brands and a quarter of retailers are planning to shut physical stores this year, while over two thirds of shoppers don’t plan to visit the high street in 2021.
Despite awful retail footfall figures for January, lockdown fatigue and pent-up desire to go non-essential shopping is simmering. So expect a bounce-back when the world of retail fully reopens, says Springboard.
Although Central London has been “profoundly” impacted by Covid, the capital’s Mayor Sadiq Khan has said a “rapid recovery is possible” in his report on future challenges and opportunities.
Stores closed, no tourists. That pandemic-induced combination has meant one of London’s leading retail attractions, Covent Garden, continues to suffer more than most.
Peter Ruis, the UK fashion executive who used to run Jigsaw and was Executive Buying & Brand Director at John Lewis, is moving to Canada to run Indigo, the country’s largest books and lifestyle retailer.
Visitor traffic to retail destinations is still moving higher in Britain, even though bad weather means the rise is fairly small. But Central London continues to suffer with few visitors to be seen.
Stockmann has updated its guidance and written down the value of its Lindex chain following an ‘impairment test’ for the business, even though Lindex’s performance has been fairly strong in recent periods.
Large-scale store openings may be on hold due to Covid, but with China already recovering, it’s being prioritised. H&M Group said on Friday that Nordic lifestyle brand Arket will open a flagship in Beijing this autumn.
H&M Group has warned that its current quarter continues to see sales hurt by the pandemic. The warning came after it reported a sharp fall in profits for Q4 and the full year.
An ad campaign by a buy-now-pay-later operator that supports and promotes improved regulation in its sector. That’s the unusual tack fintech platform Klarna UK has taken to highlight the need to better protect consumers.
Already a blight on Britain’s retail landscape, the number of empty stores and other commercial properties increased at the fastest pace in decades late last year as the Covid-19 pandemic continued to take its toll.
Sales and profits fell at joules in the half to the end of November, but its pre-tax profit was still higher than it had expected. And it had plenty of good news to share in its results announcement on Thursday.
Priced from $3 to $150 with most items under $25, the collection includes home items like tableware, quilts and pillows, pet apparel and accessories, as well as apparel like Levi's trucker jackets and sleepwear.
Otto Group, the German retail giant that owns the UK’s Freemans and Grattan operations, said on Wednesday that initial forecasts indicate it will close the 2020/21 financial year with online revenues of about €10bn.
