There’s been much talk in recent years about the polarisation of physical retail as ‘supermalls’ and other top destinations draw the best tenants while the rest goes into decline. Now a new report seems to confirm that.
E-tailer N Brown has reported lower revenue for its first half, with profits also falling as its performance reflected the “normalisation of financial services post Covid and the macroeconomic environment”.
Choosing between physical and online retail isn't an issue for global consumers with most choosing omnichannel and actively combining the physical with the virtual, using phones in-store for research and for e-shopping.
Within days of issuing a positive trading update to shareholders, Hyve Group was back with further details of its progression, with trading for the year ended 30 September showing a “full revenue recovery”.
It’s going to be a tougher-than-expected Christmas trading period, if one report is to be believed. UK shoppers are likely to spend 22% less on non-essentials in the festive run-up and other markets will see drops too.
Roger Blundell is to step down as chief finance officer at Grosvenor before the end of the year with Debbie Lee promoted to take over as CFO from January 2023. However, he will move into non-executive and advisory roles.
Curated Makers, a retail concept that links local independent artists and product makers with the high street, will debut its first pop-up store in London at the rebirth of Battersea Power Station on 14 October.
Frasers is doubling down on its efforts to get MySale shareholders to accept its buyout offer as it also says it’s on the verge of owning more than half of the firm’s shares, even though it’s still well below its target.