“The London Borough of Croydon has been historically overlooked as a drab grey jungle, but with convenient transport links, cheap business rates and strong community spirit, for start-ups in the tech and creative spheres, few places look brighter….“
For the full article from Royal Bank of Scotland featuring Cellar Door’s Farouk Deen click HERE
Courtesy of Sandra
#retailweek #retailtrends #retailnews #Retail & #Brand trends for w/e 17th February 2017 #marketingweek
- Bunnings UK have reported total sales of £612m for the half year to 31 December 2016. Pre-tax loss stood at £28.0m for the same period. (Source: Verdict)
- Laura Ashley Holdings have reported a 2.5% decrease in total sales to £146.0m for the 26 weeks to 31 December 2016. Like-for-like sales decreased by 3.5% while pre-tax profit decreased by 29.0% to £7.8m for the same period. (Source: Drapers)
- Pendragon have reported a 1.9% increase in total revenue to £4.5bn for the 12 months to 31 December 2016. Total profit before tax stood at £73.0 for the same period.
- Heineken has reported a near-5% lift in sales for 2016, although currency headwinds provided a drag in reported terms. (Source: Just Drinks)
Lifestyle LFLs were down by -5.29% off of a base of +3.3% for the same week last year, a week that included Valentines Day. This was the worst in-store result for lifestyle since early April 2016. The majority of gift retailers saw sales slip this week, together with electrical goods retailers, stationers and budget retailers. While a few department stores and high end gift retailers did see LFLs increase over last year, the main success story for lifestyle was seen for outdoor goods this week.
Fashion LFLs were down by -6.94% off of a base of -2.2% for the same week last year. This was the fifth week in a row that fashion had recorded negative in-store LFLs. In a week where cold and snowy weather blighted sales of new spring lines, 74% of respondents reported negative LFLs, of which 62% were double digit declines.
Homeware was the worst performing sector this week as 80% of respondents reported negative in-store results. LFL sales were down by -7.83% off of a positive base of +4.5% last year. The result marked its worst in-store performance since the last week of June 2016.
Non-Store LFLs provided some relief, as growth remained just above the +20.20% threshold, with LFLs up by +20.20% this week. All sectors fared better online, as 62% of fashion respondents reported positive LFLs, as compared to 92% for lifestyle and 100% for homeware.
Clothing, Footwear & Accessories
- Amazon UK have hired senior design and buying experts from Marks & Spencer and Primark as they plan to launch their own fashion label in the UK. (Source: Drapers)
- Aspinal of London have announced plans to open their largest store to date in St James Market in London by the end of 2017. (Source: Verdict)
- The private equity tycoon Guy Hands has made a surprise late entrance into the auction of Agent Provocateur, the struggling underwear brand which is facing the prospect of administration. (Source: Sky News)
- Boden, fashion and lifestyle retailer, have announced the appointment of their new Chief Executive Officer, Jill Easterbrook with effect from 27th February 2017. (Source: Retail Week)
- N Brown’s lingerie etailer Figleaves have announced the appointment of their new Chief Executive Officer, Miriam Lahage with immediate effect. (Source: Drapers)
- Next Plc have announced the appointment of their new Non-Executive Director, Deputy Chairman and Chairman Designate, Michael Roney with effect from 14th February 2017. Michael Roney will succeed John Barton as Chairman when he retires on 1 August 2017. (Source: Company Press Release)
- The White Company have announced plans to upsize at the Bluewater retail and leisure destination to create a 5,881 sq.ft statement store on Bluewaters lower Guildhall. (Source: Retail Bulletin)
Electrical & Entertainment
- Dyson have launched a new research and development facility in Singapore dedicated to integrating artificial intelligence technology into their products. (Source: CNET)
Food & Drink
- The Co-operative Group have announced the roll out a series of retail technology tools from supplier JDA Software across their 2,500 UK store estate as part of their ongoing transformation plan. This investment is made by the grocer to improve their product range based on the preferences of local shoppers. (Source: Retail Week)
- Lidl have announced plans to expand in America with their first wave of stores set to open in 100 locations on the East Coast. The first 20 stores will be located in North Carolina, South Carolina and Virginia. (Source: Verdict)
- Morrisons have announced the launch of a new campaign called The Nations Local Foodmakers with an attempt to recruit more than 200 new suppliers from across England, Scotland and Wales. Morrisons is inviting foodmakers to pitch for their place in their supermarkets via a series of 12 regional events starting from 14th March 2017 in Yorkshire. (Source: Company Press Release)
- The CEO of Heineken has said the company will roll out a non-alcoholic version of its namesake beer brand in Europe this year, as it looks to capitalise on the trend towards low- and no- alcohol products. (Source: Just Drinks)
- Tesco have announced wholesale partnership with Alpha Supermarkets in Pakistan under which Tesco products will be stocked at two of their stores. Alpha Superstores chain plans to open 50 smaller express stores and four Alpha stores stocking Tesco products within the next three years. (Source: Reuters)
The global rum market is set to face a tough future, according to joint research from just-drinks and The IWSR, with volumes expected to slide over the next five years.
- B&Q have announced plans to open their first 3,000 sq.ft small format store at Londons Holloway Road at the beginning of March 2017. The high street store will be aimed at the home improver and will serve a local market with tools and hardware. (Source: Retail Week)
- ScS Sofas have announced a string of appointments to strengthen their senior management team and spearhead their expansion plans. (Source: Retail Week)
Courtesy of ‘Barclays‘