The West End’s recovery is under way and turnover should reach its pre-pandemic level of £10 billion by 2024. It should also beat pre-Covid levels by as much as 14% — or a further £1.4 billion — by 2025. .
We may be seeing something of a mini store opening boom at the moment, but huge numbers of stores belonging to failed businesses remain empty and that can be seen clearly from the large number of vacant Arcadia sites.
One of Oxford Street’s historic department stores is being redeveloped with the plans that have just been approved being another sign of how retail on what was once Europe’s busiest shopping street has changed forever.
The owner of the Ikea furniture brand said on Wednesday it would raise prices due to supply chain challenges far into 2022, after it reported a drop in full-year profit due to higher transport and raw material costs.