General Retail News
21st November 2014 WEEKLY RETAIL NEWS HIGHLIGHTS FROM AROUND THE MARKET KNIGHT FRANK RETAIL NEWS
General retail news
American Eagle the US fashion brand, Chanel the upmarket fashion brand, is opened it’s debut UK store over 9,744 reportedly set to open five stores sq ft over two storeys in Westfield including its cashmere, millinery, London that includes concession space swimwear, watch and perfume brands for the lingerie brand Aerie. This move in Mayfair’s Burlington arcade along will be followed by a further two UK with La Perla the Lingerie brand. store openings in Bluewater in Kent and Westfield Stratford. Waitrose the supermarket chain, has unveiled a refurbished Salisbury store John Lewis the upmarket department in Wiltshire including a dry cleaners, store, opened its first in-store opticians flower wrapping and a cookery school Poundland, Thamesmead Shopping over 1,076 sq ft on the first floor of in an attempt to show of their vision of Centre, Thamesmead, London Westfield Stratford on 17th November what a contemporary supermarket in partnership with Luxottica the should look like. Acting on behalf of our client’s Tilfen Italian eyewear company. A further Land the Knight Frank retail team has store in the company’s Bristol branch Hobbs the women’s clothing retailer, agreed a letting of Unit 2, will open within the coming fortnight. opened its first pop-up store over 670 Thamesmead Shopping Centre sq ft at 32 Marylebone High Street, comprising 3,305 sq ft to Poundland Aquascutum the luxury clothing brand, London on 12th November. Ltd for a term of 5 years. will open a new store over 4,141 sq ft at 15 Brompton Road in December. The B&M the discount retailer, is in talks to move will add to the brands London acquire stores from six retailers presence alongside their existing including a supermarket as part of the Jermyn Street and Great Marlborough brands plans to become a ‘national Street stores. retailer’. The company plans to increase its total number of stores for 400 to Honest Burgers the burger bar chain, 850 with 50 stores to be rolled out per opened the doors to the public on its year. eighth London store on Widegate Street opposite Liverpool Street Station Chop’d the ‘grab-and-go’ food chain, on 17th November. will open its 10th London site in Moorgate’s iconic CityPoint Building Le Creuset the French cookery retailer, this December over 450 sq ft. will sign for a 1,712 sq ft store in Kent’s Tweet of the Week Bluewater shopping centre which is JD Sports the sporting goods retailer, part owned by LandSec. This is the has asked landlords for reduction in seventh letting in the mall since July. rents on 25 of its 88 Bank brand stores Knight Frank Retail to reduce overheads and link the rents @KFRetail British Land the property company, to store turnover. has reported that its portfolio 19th November 2014 consisting primarily of shopping Yours Clothing the plus-size ladies centres, retail parks and superstore has wear retailer, will open 25 UK stores in risen 6% in value to a four year high of 2015 as part of their expansion into Shopping in @westfieldlondon £7.2 billion. The company expects to Scotland and Ireland. The tomorrow? AmericanEagleOutfitters see 1-3% rental growth in the medium Peterborough-based company opened is opening its new store. term. 25 stores this year in England and @AEO_UK #retail @retailweek Wales bringing their total number of http://bit.ly/1xSdg9l stores to 70.
RETAIL IN DETAIL: 21st November 2014
Retailer optimism
John Lewis the up-market department store, has recorded weekly sales for the RETAIL OUTLOOK FOR THIS WEEK week to November 18th of over £100m which matches the record set in 2013. The company attributes some of this success to their popular TV advert and the social media storm surrounding Monty the Penguin. Majestic Wine the beverage retailer, has reported a 2.8% increase in like- for-like sales to £133.8 million in H1 Mountain Warehouse the outdoor 2014 in contrast with a profits warning goods retailer, has revealed record issued in March as a result of an 11% first-half this year results and has dip in pre-tax profits. Group profit announced plans to expand within the before tax fell from £9.5 million last UK and abroad. The retailer’s first half year to £8.5 million as a result of profits surged by 65% to £3.2 million Majestic’s investment drive into and sales increase 23.8% to £47.5 infrastructure and technology. The million. Like-for-like sales advanced B&M the value retailer, has recorded a company increased their market share 11.8% in the period to August 24th and rise in EBITDA and revenue in H1 2014. from 0.1% to 4.3%. online sales surged 85%. Mountain EBITDA increased 34% over the six Warehouse also recently opened their month period to September 27th 200th store and their 10th store in accompanied by a surge in revenues of Did You Know? Poland. 29.7% to £379.8m. These figures were boosted by the B&M’s acquisition of Aquascutum means ‘watershield’ in Jawoll at the end of March this year. Latin. John Emary, Aquascutum’s The retailer opened 20 net new stores founder, came up with the name during the same period and its 400th after he patented the first UK store in October 2014. waterproof wool in 1853.
Market sentiment
Footfall across the UK is predicted to in these locations and the better overall that they would be interested in increase by more than 8% over the shopping experience. 45% of shoppers receiving offers sent to wearable Christmas period, boosted by click- are predicted to use click-and-collect devices in store and 61% said that they and-collect facilities that will lead facilities over the Christmas period this would be interested in collecting consumers into retail space when year. loyalty points using wearable tech. picking up their goods. According to research conducted by Springboard, 43% of shoppers could imagine using Station retail sales have risen for the retail parks are likely to benefit from wearable technology in the future to tenth consecutive quarter in the UK’s this phenomena due to the free shop for food and groceries. In a biggest and busiest stations according parking that they offer and the survey called ShoppingVista conducted to figures released by Network Rail. accessibility of out of town locations. by the research company IGD, 45% of Like-for-like sales at Network Rail’s 18 High Street retail is also predicted to respondents also believed that their managed stations in the period July to benefit from this trend due the diverse lives could be improved by the use of September jumped by 6.23% compared offering of retail leisure and hospitality wearable tech. 62% of shoppers said to the same period in 2013.
KEY CONTACTS
DEVELOPMENT CONSULTANCY AGENCY LEASE ADVISORY Ian Barbour Richard Griston Jeremy Elphick Partner, Head of Retail Associate Partner Partner T +44 20 7861 1223 T +44 20 7861 1188 T +44 20 7861 1590 E [email protected] E [email protected] E [email protected]
The above information is sourced from Property Week, Estates Gazette, Retail Week, Drapers, The Times and the BBC and does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects and must not be relied on in any way. No legal responsibility can be accepted by Knight Frank LLP for any loss or damage resultant from the contents of this document.