With UK retailers currently issuing profit warnings at a rapid rate, it was encouraging to see one with good news on Monday. Shoe Zone issued an update saying trading in the year to September 29 was strong.
A new shopping destination opening in September in Birmingham has been sold for a headline price of £94 million to M&G Real Estate. It is 91% pre-let to retailers including Marks & Spencer, JD Sports and Next.
Value footwear retailer Shoe Zone may not have reported soaring sales for the six months to March 31 but the company kept its head above water and made progress as sales edged up by 1.1% to £73.7m and profit rose too.
Britain's retail sector has turned toxic in a climate of squeezed consumer spending laced with Brexit uncertainty, but low valuations are making some stocks a tempting prospect for the brave contrarian.
As the UK gets ready for a spate of trading updates, it seems that the week before Christmas saw a late shopping surge with fashion sales rising year-on-year, but it's unlikely to have rescued an otherwise weak season.
The Square Tallaght, one of Ireland’s largest shopping and leisure destinations, has been put for sale by joint agents Cushman & Wakefield and JLL for €233 million, below the previously expected €300 million.