There was good news and bad on UK spending on Tuesday as reports showed consumers are being impacted by higher prices, but are still spending on fashion and on activities that require new clothes and beauty products.
THG could see major board-level changes as the online beauty and technology group continues to see its performance struggle. The structure of board will be a “prime focus” of “detailed scrutiny”, its new chair has said.
Steen & Strøm, the historic luxury department store in Oslo that’s also the worlds oldest, said on Monday that it made history in its March results when it exceeded its best monthly sales on record by as much as 20%.
UK retail footfall is continuing to creep up in a clear sign that consumers feel normality is back. New figures from the Ipsos Retail Traffic Index show footfall down only 4.7% against 2019, and up 6.3% on the week.
There has been speculation for several years that West End landlords Capco and Shaftesbury could link up and now it seems that they really are in talks about a merger that would value the joint firm at around £3.5bn.
With UK interest rates having risen again in response to surging inflation, the latest BDO High Street Sales Tracker could be evidence of the last gasp of a shopping frenzy ahead of consumer belt-tightening.
UK premium lifestyle retailer The White Company has extended its contract with multi-channel fulfilment services company Wincanton for a further five years. The new deal comes with more automation for the business.
Many UK trading updates at the moment see retailers reporting weaker sales and reining-in expectations for the year. But Next’s update on Thursday did neither, even though sales guidance for 2022 overall is fairly muted.