Topps Tiles has taken a bit of a hit in third quarter like-for-like sales, which the retailer blamed on “weaker consumer environment”. Over the 13 week period ending July 1, like-for-like revenues decreased by 2.3 per cent. Topps Tiles had reported a 3.4 per cent rise in sales in the first three months of this year, but fortunes reversed in the second quarter when revenue dropped 2.2 per cent.
Gerry Weber has promoted Rena Marx to the new role of creative vice president to lead the retailer’s creative orientation of its three main fashion lines.
Houston-based Azad Commercial Realty has acquired Oxford Exchange, a market-dominant power center in Oxford, Alabama.
UK commercial property values in 2016 dropped by billions after the vote to leave the European Union, according to a new report. The Property Industry Alliance’s (PIA) latest report has revealed that commercial property values in the UK, of which retail accounts for 38 per cent, dropped 4.6 per cent in 2016 from £926 billion to £883 billion. Commercial property reportedly accounts for around 13 per cent of the value of all buildings in the UK, and 10 per cent of the UK’s net wealth
Heritage retailer Hunter has hired Daniel Shaw to be its new design director, replacing Niall Sloan who resigned earlier this summer. Shaw’s last gig was with Christopher Raeburn, which he resigned from last year after six years with the company, starting off as in-house production manager before taking on the role of design manager for three years. He has also been an associate lecturer at the London College of Fashion since 2015
Tofs has hired the former commercial director at Halfords, Emma Fox, to be its new chief executive. She will begin her role at the value department store, which used to be known as The Original Factory Shop, sometime in August
Sales at Topps Tiles slumped in the third quarter of its fiscal year due to a continuing slowdown in the housing market and tougher market conditions. The retailer said like-for-like sales fell 4.7 per cent in the 13-week period to July 1, which it attributed to “weaker macro-economic conditions”. By comparison, in the same quarter last year like-for-like sales was up by 6.2 per cent due to a robust housing market and before stamp duty changes came into affect