General Retail News
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TH 27 SEPTEMBER 2013 WEEKLY RETAIL NEWS HIGHLIGHTS FROM AROUND THE MARKET KNIGHT FRANK RETAIL NEWS General Retail News HMV the entertainment retailer, will officially Joseph the premium fashion retailer, is return to its roots and reopen at its original opening or renewing its commitment to stores store tomorrow – the 12,000 sq ft 363 Oxford this autumn in Paris, Seoul, New York, Beirut Street – following Hilco’s £50m acquisition to and Kuwait. This follows the move to make its save the company from administration in April. menswear collection available online for the first time. Arcadia the multinational retailing company, will open over 150 new franchise stores next Matalan the fashion retailer, have revealed the year to continue its international expansion. locations of the first 10 stores for its new Topshop will launch its first standalone store in Sporting Pro fascia, initially opening in Walsall, New Zealand with Australia, Vietnam and Coleraine and Harlow next month. Canada priorities for Arcadia’s other brands including Topshop, Topman, Dorothy Perkins, Primark the fashion retailer, will open a pop-up Miss Selfridge and Burton. store selling just onesies in Leeds’ White Rose centre. Onesies were one of the best fashion Nusa Kitchen, 88 Cannon Street Homebase the home improvement retailer, sellers last Christmas – Asda sold Knight Frank Retail Agency are pleased to will refit 15 stores by the year end as part of a approximately 900,000 in the 2012 festive announce their client Nusa Kitchen has five year investment programme. Homebase period with New Look selling £19m worth of opened their latest store at 88 Cannon will invest £1m per outlet with the aim of the product against a £2m forecast in the same Street. The premium soup eatery has increasing sales volumes by 20% at each store. period. M&S clearly expect repeated demand agreed a 15 year lease and now has three in 2013 having launched their £199 cashmere stores in the City of London, with the The Entertainer the toy shop, will open 45 new version. others at Old Street and Adams Court. stores over the next five years in the Middle Zatchels the boutique handbag and East. Its first store will open in Dubai in December before others are rolled out across accessories retailer, will launch its first the UAE, Bahrain, Kuwait, Oman, Qatar and standalone store. The shop will open in Saudi Arabia. The Entertainer generated pre- Westfield, Stratford next week. Tweet of the Week tax profits of £5m for the year to February Tesco the supermarket, has launched its own 2013, against £1.3m in 2012. 19th Sept branded tablet device. The 7 inch Hudl, @knightfrank shortlisted for Chicago Rib Shack the food court restaurant running the latest Android operating system, is two #EGAwards2013 chain, has lined up its first neighbourhood site available for £119 and provides users with @estatesgazette National in Battersea Rise. The restaurant will also be immediate access to online shopping and opening at Trinity Shopping Centre, Leeds next Tesco-owned on-demand film service. Property Adviser and Office month. Adviser of The Year RETAIL IN DETAIL - 27TH SEPTEMBER 2013 Retailer Optimism Hennes & Mauritz the fashion retailer, has shown increased profits predominantly due to strong growth in its Asian market. Q3 RETAIL OUTLOOK FOR 2013 showed H&M’s net profit up 22% on Q3 THIS WEEK: 2012 figures to £430m. Although European markets also witnessed growth, performance was especially strong in Japan, where sales figures increased 46% year-on- year and China, where 22 new stores were Waitrose the food store, have announced opened in Q3 2013 and sales increased 37% plans to open a second ‘dark’ store on a six- year-on-year. H&M’s largest market, acre site in Coulsdon, South London in Germany also saw sales increases of 8% and autumn 2014. The new store will dispatch the opening of 350 new stores are planned twice the orders of Waitrose’s current for 2013, focusing on American and Chinese House of Fraser the department store, depot in Acton. Sales within the M25 markets. recorded year-on-year turnover growth of tripled last year to represent 20% of all 3.3%, reaching £522m turnover in the first Waitrose online sales and total ecommerce eBay and Argos the auction site and half of the year, driven by house brands and sales for the company jumped 40.6% in the catalogue merchants, have combined to ecommerce. Its refurbished Oxford Street first half of this year. pilot a new six month trial ‘click and collect’ store recorded a 10% sales increase and scheme in 150 Argos stores. This will enable online sales soared 57% year-on-year. Gross shoppers to order goods online with eBay to profit rose 18% from 2012 levels. The Did You Know? collect at Argos stores around the country, introduction of third party brands like acting as a challenge to Amazon’s locker Superdry has also contributed to HoF’s The J D Wetherspoon brand name delivery system. In May 2013, Argos strong performance so far in 2013. originated from founder Tim Martin's revealed an increase in annual sales for the teacher who allegedly told Martin he would first time in five years, mainly due to online never succeed in business. sales and its ‘check and reserve’ service. Market Sentiment The year-on-year net reduction in stores The news will be greeted positively by retailers has dropped from 953 to 209 in the first Research by the Opera Solutions Retail approaching the Christmas period. Research half of 2013. Despite this cause for Predictor (OSRP) suggests that year-on-year by PwC and the Local Data Company also optimism, and Ed Miliband’s claim he will growth in sales nationwide is set to rise above contributed to the positive outlook this week, freeze business rates for companies the 10 year average. Yearly growth of 3.9% is claiming that store closures have dropped 78% paying rent under £50,000 should Labour estimated for October, with increases of 4.2% net year-on-year as more charity shops, come to power in 2015, it is still estimated and 4.5% forecast for November and betting shops, coffee shops and convenience that pressure from online retail, December. Retail sales are forecast to soar stores open on the high street. supermarkets and out of town retail parks will continue to increase. 5.3% in January 2014. CONTACT US AGENCY DEVELOPMENT CONSULTANCY LEASE ADVISORY Richard Griston, Associate Partner Ian Barbour, Partner Jeremy Elphick, Partner +44 (0)20 7861 1188 +44 (0)20 7861 1223 +44 (0)20 7861 1590 [email protected] [email protected] [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. .