Latest property news – Page 12
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Store closures hit record high of 48 per day in 2020
More than 17,500 stores closed in 2020, marking the biggest decline in shop numbers in over a decade.
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Commercial evictions ban extended until end of June
The government has extended the commercial evictions moratorium until the end of June, in a move that will bring relief to struggling high street retail and hospitality businesses.
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Retail footfall climbs in February with lockdown end in sight
Footfall across all retail destinations rose between January and February this year, as customers flocked back to stores in anticipation of the easing of lockdown restrictions.
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Amazon Go to open first UK store this week
Amazon will open its first in a tranche of contactless grocery stores in the UK this week.
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John Lewis plots ‘hundreds’ of shop-in-shops inside Waitrose stores
John Lewis plans to launch hundreds of shop-in-shops inside Waitrose stores and is also plotting a smaller “local” format as part of a radical overhaul of its portfolio.
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Non-essential retail to open on April 12 if Covid conditions met
Non-essential retailers will be allowed to reopen shops in April, alongside gyms, hairdressers and outdoor hospitality, if strict conditions are met, according to plans set out by the prime minister.
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M&S boss Rowe hits out at ‘unbearable’ business rates burden
Marks & Spencer boss Steve Rowe has warned that the “unbearable yoke” of business rates will spark thousands more job losses unless the tax is overhauled by the government.
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John 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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Next 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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Arcadia 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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Burberry 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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Ted 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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Retailers 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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January 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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Record 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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Retail 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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The 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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John 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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Next 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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Debenhams 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.