High streets hit as shopper numbers drop by 1.7% in July - but pop-up shops and short leases see vacancies fall to a three-year low: High streets suffered another blow last month as the number of visits from shoppers dropped by 1.7% year on year in July. Retailers in general were hit by a fourth consecutive month of declining footfall, as shoppers stayed away despite the warm summer weather.
Asda overtakes Marks and Spencer in clothing market: Asda has overtaken Marks and Spencer to become Britain’s second-biggest clothing retailer by volume, as the U.K. arm of Walmart defied the potentially damaging supermarket price war to increase its underlying sales.
Sir Philip Green’s Topshop and Miss Selfridge brands are to push into China with an agreement to launch on the ShangPin.com fashion retail website next month. ShangPin.com is an online multi-brand retailer of designer and contemporary fashion, which says it has more than 5m customers. (Financial Times)
Seniors are the growth market in terms of increasing numbers, they are the people with cash to spend, and coincidentally they like MKS, preferring s visit to the store to shopping online. When the Company gets the message that seniors want better quality at fair value pricing revenues will be restored. Let NXT concentrate on low quality, you won't see very many seniors in their stores.
Boots falls into hands of U.S. rival: American giant Walgreens set to complete acquisition of store in a deal worth £5 billion: American drugs stores giant Walgreens is set to complete its acquisition of Boots in a deal worth around £5 billion.
Good to see the new IT director being appointed from TESCO. The bad news is the IT Director reports to the CFO rather than the CEO. This tells me two things. 1. They are running a 1970s operating model. 2. The CEO is not IT / Internet literate. For those two reasons - I am out!
U.K. retailers had strongest quarter in more than 10 years from April to June: Britain’s retailers enjoyed the strongest quarter in more than a decade between April and June, but consumers were less willing to spend towards the end of the period, according to the Office for National Statistics.
Datafeed and UK data supplied by NBTrader and Digital Look.
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