A new study has found that independent store openings have grown in all but two regions of the UK as major chains continued to face challenges and general decline. According to data from online retailer OnBuy, which analysed where chain stores have declined in comparison to areas independent stores opened, the North West, West Midlands and Scotland had the highest rate of independent store openings in UK in 2017 – with 230, 194 and 114 independent openings respectively.
Last week’s “Beast from the East” snow storm saw footfall across the UK plummet, with retailers in Scotland and the East bearing the brunt. According to data from Springboard, footfall across the UK dropped 17.1 per cent in the week starting February 25 compared to a week before, while dropping 16.6 per cent year-on-year
Over the past week $4 trillion (£2.87 trillion) disappeared from global equity markets in the largest stock market crash seen since 2008. Fortunately, the proceeding days have seen most markets rebound and investors seem to believe the worst is over.
A Dallas-based luxury brand is headed East.
Union bosses have criticised big companies – including many prominent retailers – for putting profits above workers following thousands of job cuts since the start of the year. Since January 1, as many as 10,000 jobs have been put under threat in the retail sector. READ MORE: Morrisons slashes 1500 store manager roles 2400 jobs back under threat as Toys R Us seeks buyer B&Q to swing axe on 200 HQ jobs Jobs at hundreds of Topshop/Topman stores to be cut 468 jobs at risk as M&S announces 14 store closures Last week alone Toys R Us, Morrisons, M&S, Topshop/Topman, B&Q and East all revealed that hundreds of jobs are at risk
Fashion retailer East has posted has posted an uplift like-for-like sales for its Christmas period, boosted by a massive increase from online.
Footfall decreased to its lowest rate since the Brexit referendum in October mirroring “the month’s paltry sales performance.” According to new data from Springboard and the British Retail Consortium (BRC) footfall fell two per cent, coming well below the three-month average decline of 1.4 per cent, and nudging the post referendum 2.3 per cent slump. The East of was the only region to see any footfall growth over the period rising one per cent and marking the eleventh quarter of consecutive growth. High street footfall in the East Midlands dropped 1.5 per cent, slowing from the 2.8 per cent decline seen a month prior, while the East and Wales were the only areas to experience high street growth up 1.4 per cent and 0.6 per cent respectively.