The latest news
New data shows end of UK VAT-free shopping again boosts Europe
The UK government has been asking for evidence that the end of the VAT-three shopping perk for tourists is hurting British retail and payment software specialist Planet came up with some of that again on Friday.
M&S to press ahead with self-service till rollout
M&S is on a mission to cut costs by more than £400 million over the next five years, and among a raft of store initiatives is a plan to roll out hundreds more self-service tills.
Happy Armani buoyant in 2022, says China bounces back in Q1 2023
Armani Group’s 2022 results have shown ongoing progress at one of the world’s best-known luxury names as net revenues jumped 16.5% to €2.35 billion and profit rose even faster.
Record West End retail rentals for landlord GPE but it swings to loss
Central London is the place to be if you’re renting prime commercial and office space. Demand is sky-high and in Wednesday’s year-end results, key landlord GPE referred to its “strong strategic positioning".
UK inflation eases further but clothing prices still rising
UK inflation — including clothing prices — slowed again in April, although the rate remains high and prices continue to rise, which means consumers are thinking long and hard about discretionary purchases.
M&S sales continue to rise as fashion stays strong
M&S’s annual results offered more evidence of the strength of its turnaround with the retail giant reporting higher sales and headline profits, although operating profits were hit by tough comparisons and higher costs.
M&S clothing chief Price to join Fabacus board
One of the UK retail’s highest-profile execs — Richard Price, MD of Clothing and Home at M&S — is to join Fabacus, the data management and bureau service for the licensing industry, as a member of its Advisory Board.
Klarna UK boss Marsh to leave
Klarna’s UK boss Alex Marsh is stepping down from the buy-now-pay-later (BNPL) financier for personal reasons. A replacement has yet to be announced.
UK consumer confidence rises again but stays negative
UK consumer confidence continues to move higher. From the record lows of late 2022, a steady recovery has gathered pace.
Britons angry about greenwashing, will reject guilty brands
Greenwashing isn’t only a problem simply because the authorities are focusing on it these days. It’s an issue for consumers too. They don’t like it and will shun brands caught embellishing their green credentials.
Liverpool One gets record Eurovision boost
The result might not have been a good one for the UK’s entrant at last weekend’s Eurovision Song Contest, but Liverpool, which staged the event, enjoy record 2023 footfall and sales at its key shopping mall.
April sales rise in Scotland but fashion demand weak as food sales dominate
April’s Easter holiday uplift in England was also seen north of the border last month as Scottish sales for the 2-29 April period rose 9%.
YNAP names new Middle East GM
Online fashion giant Yoox Net-A-Porter (YNAP) has named Celine Lefebvre as its General Manager for the Middle East, effective 23 May.
Mamas & Papas launches resale and repair initiative
UK high street nursery brand Mamas & Papas has expanded its commitment to the resale/second-hand market, launching a ‘Loved for Life’ initiative.
The Loewe Foundation unveils 2023 craft prize winner
Inazaki, an artist from Takamatsu, Japan, was chosen from 30 finalists by a distinguished jury, including Loewe creative director, Jonathan Anderson.
Leases, occupancy strong but British Land loss-making as interest rates bite
First the good news. For the year ending 31 March, commercial property giant British Land leased out 3.4 million sq ft of space and portfolio occupancy is now 96.7%.