Up-to-date coverage of the latest events in UK retail.
7.55am Honey Birdette opens first store in USA
Australian lingerie retailer Honey Birdette has launched its first store in the USA.
The chain has opened a 500 sq ft boutique in Westfield Century City, Los Angeles – the first of seven shops planned in America.
Honey Birdette currently operates three stores in the UK having launched its first in Covent Garden in 2016.
7.35am Intu to be hit hardest by HMV collapse
Embattled shopping centre owner Intu will be the landlord hardest hit by the collapse of HMV.
The property giant, which owns malls including Manchester’s Trafford Centre, the Metrocentre in Newcastle and Lakeside in Essex, has 15 HMV stores operating across its portfolio.
Analysis by The Sunday Times found that presence left Intu more exposed to HMV’s demise than any other landlord in the UK, after the music retailer drafted in administrators KPMG last week.
An Intu spokesman said: “We have been working closely with HMV in recent months to help them relocate to smaller, more cost-effective units.”
6.50am Retail job losses to hit 164,000 in 2019
More than 164,000 retail jobs will be lost in 2019, the Centre for Retail Research has warned.
The body has predicted a “worsening of conditions” next year and cautioned that it expects “a number of major retail chains to hit the buffers in 2019”.
The Centre for Retail Research forecasts 164,100 job losses, half of which will come from independent businesses, as well as 22,100 store closures.
The figures would represent an acceleration from the 137,700 retail job losses and 18,443 store closures during 2018.
6.30am Retailers recognised in New Year’s Honours list
Two retailers have been recognised by the Queen in the New Year’s Honours list.
Roger Whiteside, the boss of Greggs and former executive of Marks & Spencer and Ocado, has been made an OBE for services to women and equality.
Edwin Booth, executive chairman of upmarket grocer Booths, has been recognised with the same honour for services to business and charity.