Major British retail landlord Hammerson issued an update on Wednesday that showed reopenings in England, Ireland and France are well under way, but it has been struggling to collect rents from some retail tenants.
The news this month that Lord Andrew Tyrie, the chair of the Competition and Markets Authority (CMA), would exit his role was driven by a major clash with the CMA’s top executive Andrea Coscelli, a report has claimed.
While online retail boomed during lockdown, it's interesting that e-sales are still soaring even though non-essential shops have reopened in much of the UK. But it seems some e-fashion activity has moved back to shops.
Oliver Bonas has secured a vital loan to see it through the current crisis period with the fashion and lifestyle retailer having secured £3.5m of additional funding guaranteed by the government’s coronavirus scheme.
News of Intu’s administration filing has been quickly followed by speculation over whether the firm will be broken up with one report saying a creditor is urging a fast sale of the Trafford Centre, Intu’s top asset.
Springfields Outlet and Leisure in Lincolnshire has said that while footfall and overall spend remain lower year-on-year, average transactional spend is up in double-digits and many reopened stores are booming.
H&M saw a bigger H1 loss than expected as the coronavirus crisis crushed profitability. And while sales are recovering, they’re still down during June and markdowns will be ongoing in Q3, even though e-sales remain high.
Matalan saw its revenue rising 2.3% in the year to the end of February, hitting £1.129 billion, with the company also saying that its market share grew and that its online growth was an impressive 24%.
John Lewis Partnership announced Wednesday that Pippa Wicks is joining its department stores chain as Executive Director. She’s joining in August from the Co-operative Group where she was Deputy Chief Executive.
Barclaycard saw payments rising last week as stores began to reopen with 6% growth by value compared to the previous week and 8% growth in their volume. And the value of payments in physical shops rose 12%.
Pan-European value retailer Pepco Group has had a reasonably good first half, despite the pandemic, as many stores were able to operate during lockdowns due to them selling essentials as well as non-essential goods.