UK high street player Marks and Spencer said its profits fell by 3.9 percent to £623 million, but its CEO claims there’s light at the end of the retail tunnel.
The market in clothes is challenging, said CEO Mark Bolland, but he claimed that M&S had invested heavily over the last three years and group sales rose by nearly three percent to £10.3 billion for its last financial year, to the end of March. more»
An anticipated deal between Dixons Retail and Carphone Warehouse became reality today and is set to change the face of many high streets.
The deal, worth an estimated £3.5 billion, will mean the creation of a 50/50 owned entity which will be renamed Dixons Carphone. more»
Research from IDC suggests that your average smartphone shopper is smarter than your average bear.
And smartphones are turning out to be a bit of a nightmare for your average high street shop.
IDC analysed app and mobile of over 10,000 smartphone users during the holiday season. more»
Monthly figures released by KPMG and the British Retail Consortium show that growth on the high street showed a 2.6 percent increase in October – up from 2.4 percent in September.
According to Dan Wagner, CEO of Powa Technologies, the outlook is bleak. more»
For some time now, eBay has been pushing discussion about the future of etail, the high street, and how brick and mortar will intersect with online shopping – now, in a bold move, the company has joined up with Argos in a bid to offer the best of both worlds. more»
As retailers moved to ditch pricey high street property and weather the storm somewhere cheaper, many town centres started resembling recession ghost towns, but not for long. According to the latest figures from the Local Data Company, the overall store vacancy rate fell to 14.1 percent, from 14.2 percent in February. more»
It seems all that talk of high street gloom was just that – talk. According to the latest monthly figures from BDO, retail sales were up 3.5 percent sequentially in August. It was the best result since February and although the business climate is far from perfect, things appear to be getting better. more»
A retail company is calling out for a change in the way the high street manages and expects upticks in sales.
Powa Technologies CEO Dan Wagner suggested it is ridiculous to rely on the weather for an upturn in sales when the country is in search of wider improvements in economic performance. more»
July appears to have been a great month for British retailers and they have mother nature, a tennis player and a baby to thank for it.
According to the British Retail Consortium and KPMG, sales were up 3.9 percent, against a 2.0 percent increase in July 2012, the fastest July growth since 2006. more»
July retail sales in Britain rose at their fastest pace since January, thanks to summer shopping and the unseasonal heatwave.
According to the Confederation of British Industry (CBI), retail sales hit their six-month high in July. Retailers recorded strong demand for clothing, footwear and just anything related to tropical temperatures. more»
The high street is hurting and property owners in Wales seem to be getting the worst of it. According to property experts and the council, the number of empty shops in Cardiff increased from 9.7 percent in October 2008 to 15.8 percent last October. more»
Although Europe is going through the worst economic crisis in decades, the retail property market is still showing signs of life – and it’s getting better. It is estimated that €16.3 billion of retail property was traded in the first six months of the year, up 31 percent compared to the first half of 2012. more»
Although online retail sales are still growing, new research from Mintel has revealed that growth is slowing quite rapidly. The online retail sector expanded by about 50 percent in 2008, but last year growth slowed down to just 15 percent. However, this is still much better than the rest of the retail sector and it means the UK online retail sector will double by 2018, with double-digit growth rates. more»
Retail footfall in June was up 0.1 percent year-on-year, reversing the negative trend in May, which saw a 0.7 drop. Good weather seems to be the main factor, as high street footfall was up 1.4 percent while out of town footfall was up 0.6 percent. more»
Morrisons chief executive Dalton Philips believes the Government should impose a new online sales tax to level the playing field with its rivals and e-commerce outfits. Philips told The Daily Telegraph that the tax imbalance between internet and high street retailers is illogical and it is taking its toll on Britain’s town centres. more»