“There’s a hell of a lot of change, I mean this is the most transformational period in retail full stop.” The death of the high street has been predicted as many times as people have predicted armageddon, but Alex Schlagman is the polar opposite of a doomsday preacher.
H&M is set to open a new store in the former BHS unit at Dolphin Shopping Centre in Poole. The Swedish fashion giant will move into the two-level, 27,000sq ft as part of a wider refurbishment scheme of the centre. JD Sports and Smiggle have also signed new 10 year leases at Dolphin, and are set to open 6120sq ft and 560sq ft stores respectively
Heritage furniture and interiors brand Heal’s is set to open its first-ever store in Birmingham. Established in 1810 and operating five stores in London, Sussex and Yorkshire, Heal’s new Birmingham store will also be the brand’s regional flagship for the Midlands
Demand for large retail space in the UK is declining as retailers become more cautious, according to two of the UK’s largest property firms. The Crown Estate recently pulled out of a £75 million extension project to Exeter’s Princesshay shopping centre after stating businesses had become too cautious to commit to the space
British retail company SuperGroup has announced it would change its name to Superdry as well as commit to various targets to make the business more environmentally-friendly.
The ownership of the Jenners department store building in Edinburgh has changed, with a private European investor believed to have snapped it up.
Next, Zara and Mango have all been called on to pay up over half a million pounds they owed to Turkish factory workers for over a year. The three major fashion retailers have been accused of failing to pay factory workers for three months of labour and an online petition calling on all conscientious consumers to help the factory staff has been launched.
The Card Factory has taken a hit to its margins “higher than initially expected” as it struggles with lower footfall and seeks to mitigate rising import costs. In the six months to July 31, the retailer reported a 13.9 per cent drop in operating profits to £24.6 million, with underlying operating profits dipping 4.6 per cent to £27.7 million. Underlying EBITDA dropped four per cent to £32.8 million while underlying profits before tax fell 4.8 per cent to £26.3 million
Australian online fashion retailer MySale has posted a triple digit rise in underlying profits thanks to a growth strategy focusing on high lifetime value customers. In the year to June 30, underlying pre-tax profits shot up 226 per cent to AUD $3.3 million (£1.94 million) while underlying EBITDA saw a similarly significant 59 per cent rise to AUD $87 million (£51.13 million)
Boxpark is set to move into Wembley Park after signing a 10-year joint venture agreement for its third shipping container-based retail and food destination in the capital. The 43,000sq ft scheme, which will open in 2018, will host 29 independent retailers and food and beverage operators and will be located on Olympic Way – also known as Wembley Way.