UK retail took a big hit on Friday with negative news that consumer confidence plummeted in October with GfK’s index delivering worsening figures ahead of what could be a dismal Christmas selling period.
Official UK retail sales figures on Friday showed a continuing increase as the Office for National Statistics said September’s retail sales volumes were up up 5.5% when compared with February's pre-pandemic level.
The new coronavirus restrictions that came into effect in recent days had an immediate impact on retail footfall across the UK. There was a decline of 3.1% in the seven days to October 17, compared to the week before.
London’s West End is going the extra mile to attract shoppers for the run-up to the festive period. It's introducing new safety measures as it tries to reassure nervous shoppers that physical stores are Covid-secure.
A group of big names in premium and luxury retail have joined the chorus of British businesses pleading with the government to reverse its decision to axe tax-free shopping for tourists in its current form.
Property giant Landsec shared the broad outlines of a new strategy from still-new CEO Mark Allan on Monday and it may surprise some that it includes a continuing focus on retail, on London and on giant regional malls.
French billionaire Xavier Niel has teamed up with Unibail-Rodamco-Westfield's former boss to oppose the shopping mall group's planned €3.5 billion ($4.10 billion) rights issue, lifting the firm's shares.