One of the UK’s biggest commercial landlords has signalled a shift towards retail parks as it managed to collect just over half the retail rent it was owed for the last three months.
British Land said that it had collected 54% of rent from its retail customers that was owed for the period to the end of March.
The low rate...
Tesco has revealed that its profits tumbled by around a fifth over the past year after coronavirus costs of almost £900 million offset surging sales.
The supermarket giant said on Wednesday morning that pre-tax profits slid to £825 million for the 12 months to February, compared with £1.03 billion the previous year.
It said profits were weighed down by £892 million...
Total customer footfall on the day non-essential retail reopened in England was down 15% on two years ago, new figures show.
However that is a significant improvement on March, when total UK footfall was down 68.7% on two years ago, the British Retail Consortium (BRC) said.
Week-on-week statistics show a 266.50% increase.
The latest BRC-Sensormatic IQ figures, which compare footfall on Monday...
Dress-seller Quiz has said that it expects celebrations when pandemic restrictions are slowly eased will boost demand for its products.
The womenswear company said that its ranges have normally proved popular during social events and celebrations, which have been in short supply over the past year.
While other retailers have been able to rely on online sales to make up for...
Retailer JD Sports Fashion has said profits are set to rebound more strongly than expected over the year ahead as stores reopen after lockdown.
Britain’s biggest sportswear retailer upped its outlook for the year to January 2022, forecasting that profits will surge above pre-pandemic levels as restrictions ease – to between £475 million and £500 million.
The firm had previously predicted...
Global lifestyle brand Timberland is launching its first-ever membership program, echoing its mission to create a movement of purpose for a greener planet. The program will give loyal customers product exclusives, prizes, the chance to attend exclusive launch events, plant trees through Treedom and claim a 10% birthday promo-code.
Customers will be able to sign up in-store and online via...
Takeaway delivery giant Just Eat said order numbers soared by 79% over the past three months as lockdown measures sparked demand from housebound customers.
The Just Eat Takeaway.com group told investors on Tuesday morning that it processed around 200 million orders in the first quarter of 2021.
The company – created through the £6.2 billion merger between Just Eat and Dutch...
The UK economy rebounded slightly in February amid the third lockdown but was still almost 8% lower than before the pandemic, according to official figures.
The Office for National Statistics (ONS) said gross domestic product (GDP) grew by 0.4%, representing an improvement from a 2.2% decline in January, which itself had been revised upwards from a previously predicted 2.9% fall.
Nevertheless,...
The fact that shops were allowed to welcome customers again for the first time in months did not boost the share prices of some of the UK’s biggest retailers.
Next and B&Q-owner Kingfisher helped push down the value of London’s FTSE 100, which ended the day down 26.63 points, or 0.4%, to 6,889.12.
Both companies lost more than 2% of their...
Shoppers have been hunting out hidden nuggets at HMV stores as the retailer welcomed back “all the usual faces” following the easing of lockdown restrictions.
The entertainment giant reopened all 93 stores across England and Wales and was expecting to see in-store shopping return to pre-lockdown levels amid strong demand for vinyls and original CDs.
One customer took the week off...
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