Retail news round-up: UK retailers focus only on prime locations and Bonmarché's clothing range to be blamed for drop in sales.
UK retailer focus on prime locations
UK retailers are focusing only on prime locations as online retail continues to rise, The Financial Times reported.
According to a research by estate agency Colliers, the rents for the top tier of retail property increased 1.8% in the year to April.
The data also showed that the proportion of shops that are empty for more than two years has increased by a fifth to about one in 28.
Colliers head of UK retail Mark Phillipson said: “A while back, a retailer looking to make a presence across the UK would be looking at a minimum of 100 shops.
“Now, that is probably 20 to 30.”
Bonmarché’s casual range prompts drop in sales
Bonmarche has admitted that lack of innovation was the reason for the drop in sales and profit, the Daily Express reported.
The company said in a statement: "We are not fully utilising data... to engage more effectively with customers, or reward the most loyal."
“The apparel market has been in decline, with demand affected by consumers’ response to factors such as inflation, the referendum on Brexit, and unseasonal weather patterns, which, as we have noted in the past, significantly influence our customers.”