Britain's opposition Labour Party would impose higher taxes on online retailers to fund tax relief for bricks and mortar businesses, the party's would-be finance minister Rachel Reeves will say on Monday.
Hopes that strong retail sales in the summer would continue into early autumn seem to have been dashed — at least that’s the case according to the earliest of the monthly retail sales reports to come out.
This week has brought a number of moves in the property sector as Landsec said on Friday that it has sold two retail parks, while a joint venture acquired Martineau Place shopping centre in Birmingham.
TJX Europe has begun hiring up to 2,000 young people in the UK under a government work placement programme. The Kickstart Scheme will offer six-month posts in over 400 TK Maxx and Homesense stores across the country.
Covid-19 was no friend to cash. The pandemic saw retail transactions via payment cards rocket in 2020, according to the British Retail Consortium (BRC). Cash now accounts for just 15% of total spending in retail.
Luxury lifestyle brand BALR is relaunching in Britain and Ireland this season and has appointed Start agency as its UK sales partner. The label launches in lHarvey Nichols, Selfridges, and the expanding Flannels chain.
Italian fashion house Cavalli said on Monday it would open a $545 million ultra-luxurious skyscraper in Dubai in collaboration with real estate developer Damac Properties, aimed at reviving the luxury brand.
South London outlet mall Icon Outlet at The O2 said sales during August reached record levels compared to the pre-pandemic period in 2019. Sales rose by 24%, average transaction value grew 11%, and footfall rose 10%.
UK retailers can expect a “tale of two Christmases” this year. According to eBay UK, personal finances will play a major part in consumer choices as the lasting effects of the pandemic will divide spending patterns.
August retail sales volumes surprisingly fell, on a month-on-month basis, in Britain the ONS said Friday. Volumes were down by 0.9%, with non-food store sales volumes down 1%, driven by a 3.7% fall at department stores
The Hut Group continued to go from strength to strength in the first half of the year with group revenue rising almost 45% to £958.8 million year-on-year, and rising 95% compared to the first six months of 2019 (2YoY).