Latest property news – Page 12
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NewsJohn Lewis plots further store closures as Covid crisis bites
John Lewis is planning a fresh round of store closures as the impact of the coronavirus crisis on physical retail deepens.
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NewsNext boss calls for business rates reform as Sunak delays government review
Next boss Lord Wolfson has called for business rates on high street stores to be slashed by a third to stem the tide of store closures.
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NewsArcadia property sales raise hopes for retailer’s pensioners
Pensioners at Sir Philip Green’s collapsed Arcadia fashion empire may receive more from their savings than originally feared, following property disposals.
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NewsBurberry becomes first non-essential retailer to return business rates relief
Luxury fashion giant Burberry is to voluntarily hand back savings made through business rates relief during the Covid-19 pandemic.
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NewsTed Baker warns of £5m Brexit bill as festive sales slide
Ted Baker has warned it faces £5m of additional costs associated with Britain’s exit from the EU as it grapples to revive its fortunes.
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NewsRetailers lose £22bn in sales during coronavirus lockdowns
Retailers lost £22bn in sales last year after nationwide lockdowns decimated the performance of physical stores.
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NewsJanuary retail sales slide as shoppers cut back non-essential spending
January retail sales registered the sharpest decline since last May as customers reined in spending and lockdown hammered store sales.
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NewsRecord spending spree to reignite economy post-pandemic, says BoE
The economy could hit pre-pandemic levels in early 2022 if households start spending the £125bn in pent-up savings once the vaccine is rolled out, according to the Bank of England.
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NewsRetail footfall slides in January amid UK's third lockdown
Retail footfall dropped in January across all destinations as the UK went into lockdown for the third time since the outbreak of the coronavirus pandemic.
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NewsThe Works narrows interim losses as online sales double
The Works boss Gavin Peck has hailed the retailer’s “robust” performance at the half-year mark as online sales surged and stores experienced strong demand when allowed to open under government guidelines.
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NewsJohn Lewis raises profit forecast after resilient Christmas performance
John Lewis has said its sales across Black Friday and Christmas “held up better than anticipated” and its profits will be ahead of previous guidance as a result.
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NewsNext pulls out of race to acquire Topshop
Next has withdrawn from the bidding process to acquire Arcadia’s Topshop brand, despite previously being pinned as the frontrunner to snap up the fashion retailer.
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NewsDebenhams axes Oxford Street flagship and 320 jobs with latest closures
Debenhams is permanently closing its Oxford Street flagship and five other stores, with the loss of 320 jobs.
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NewsCovid-19: How retailers are stepping up to aid the vaccination effort
As the prime minister hinges the relaxation of the latest lockdown on the most vulnerable in society receiving a vaccine, what efforts are retailers making to hasten the process?
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NewsAsos to launch £90m warehouse, creating 2,000 jobs
Asos has unveiled plans to open a new £90m warehouse to support “ever-increasing customer demand” and help it accelerate its delivery capabilities.
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NewsChancellor offers non-essential retailers grants for closed stores
Chancellor Rishi Sunak has announced new support measures, including grants of up to £9,000 per closed store to non-essential retailers, following the announcement of a third national lockdown.
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NewsNext edges up profit guidance after stronger than expected Christmas sales
Next has upped its full-year profit guidance again after delivering “much better” sales over the Christmas period than expected in previous guidance
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NewsFrasers Group snaps up fashion retailer Psyche
Frasers Group has acquired fashion retailer Psyche’s stores and online business for an undisclosed sum.
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NewsPost-Christmas footfall drops as shoppers stay home
Retail footfall during the period after Christmas declined across all destinations as tighter coronavirus restrictions came in across the UK.
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NewsBoxing Day footfall plummets as restrictions tighten
UK high streets were deserted on Boxing Day with shoppers choosing to remain at home as tier-four restrictions spread across more regions.