Hammerson announced it is trimming its exposure to department stores and high street fashion retailers in a strategy update unveiled on Tuesday, as pre-tax profits plunged by 80% in the first half of the year.
Stylist magazine and shopping malls giant Intu have announced that the large-scale consumer fashion and beauty event, Stylist Live, will take place outside London for the first time at Intu Trafford Centre, Manchester.
Work on a £75 million transformation of Intu Trafford Centre’s Barton Square will start later this year to deliver a fully redesigned interior and a new glass-domed roof. Primark has signed up as anchor tenant.
The collapse of its merger deal with Intu may have been a shock to Hammerson’s system but the malls giant is hitting back with a review of its strategy on which consultant McKinsey is working, a newspaper said Monday.