It has been reported that Next will be facing some tough times this year, as the fashion retailer has seen a worse-than-expected festive season performance. Commenting today, Next announced that sales decreased 0.4% in the 54 days to 24th December, whilst there was a 7% fall in end-of-season clearance sales. Other figures...
Supermarket giant Morrisons have started the New Year off by reducing prices on 800 items. It is the first supermarket out of the Big 4 to do this, however other retailers will follow as they try and entice shoppers on a tight budget once the festive period is over. Some of the...
Figures reveal that footfall dropped almost 13% nationwide and shopping centres decreased 50%, due to customers spending early in December, bank holiday trading hours and bad weather. Elsewhere, retail benchmarking firm Springboard Insights revealed that overall footfall which included out of town retail parks dropped 23.8% year-on-year. A director at Springboard Insights,...
It has been announced that Edinburgh Airport is looking to develop its retail area this year, which will create around 100 new jobs. Over the last year, the airport has welcomed 20 outlets, creating almost 200 new jobs. Some of the new retailers include Krispy Kreme, Michael Kors, JD Sports and...
Between Monday and Wednesday this week, figures released from Springboard show a drop of 5.8% in comparison to the same period the previous year. In this period, footfall dropped for all three destination types, although with an increase of 15.5% on Wednesday was shopping centres and the largest decrease in footfall...
It has been revealed that due to Brexit and hefty discounts, the British fashion industry is facing an extraordinary financial challenge. Figures conducted by Opus Restructuring show that 43.6% of retailers in the fashion sector in the UK are thought to be in financial danger. The research has shown that almost half...
Retail professionals have revealed that prices across UK retailers may increase as much as 8% in 2017. According to data provided by KPMG/Ipsos Retail Think Tank, retail prices are looking to rise at least 5% over the course of next year, with necessities becoming more costly, as well as retail growth...
In 2017, the Co-op is planning to open 100 new food stores which will create 1,500 jobs. With an investment of £70 million, the initial focus will be on London and the South East, with a plan to open five stores in the capital by March. Other areas with new stores opening...
In a shock deal worth £112 million, Sports Direct has revealed that it will sell sportswear brand Dunlop. Sports Direct owner, Mike Ashley will be selling the company to Japanese firm Sumitomo Rubber Industries and will be purchasing all trademark and licensing rights, including its retail businesses. Mr Ashley, who bought Dunlop...
It has been revealed that e-tailer Boohoo is in line to purchase US-based company Nasty Gal for $20 million (£16.1 million). Nasty Gal was formed in 2006 and was aimed at teenage girls and ladies in their 20s, however the company went bankrupt in November. Boohoo revealed that it would be taking...
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