General Retail News
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13th June 2014 WEEKLY RETAIL NEWS HIGHLIGHTS FROM AROUND THE MARKET KNIGHT FRANK RETAIL NEWS General retail news Prada the Italian luxury fashion house, American Eagle Outfitters the US plans to increase its stores by 10% this fashion brand, has 26,000 sq ft of retail year with 20 new stores in Europe, 10 in space under offer split between Asia, 10 in South and Central America, Westfield White City, Westfield and 20 in the US. Focusing on Stratford City and Bluewater Shopping menswear, the retailer plans to open 50 Centre, Kent. The retailer has over 1,000 men’s stores in the next three years. stores in the US. Gordan Ramsey the celebrity chef, is Sainsbury’s the supermarket chain, will opening a new restaurant at 3-9 open two new convenience stores per Heddon Street, London. The circa 9,000 week this year. The retailer opened 27 sq ft restaurant, called Heddon Street new stores and refurbished 12, in the Kitchen will open this Autumn. first quarter to June. Sainsbury’s has 592 supermarkets and 638 convenience 12-14 Polygon, Clapham Old Primark the budget retailer, has stores. Town, bought the 250,000 sq ft Pavillions Shopping Centre in Birmingham and Foyles the bookshop, has opened a The Knight Frank Retail Team acted plans to convert half of it in to one of new 37,000 sq ft flagship at 107 on behalf of Knight Frank Residential its biggest UK stores. Primark has 269 Charing Cross Road, London. The world in negotiating a new 10 year lease stores around the world covering famous book retailer has relocated for the 1,000 sq ft ground floor unit almost 10m sq ft of selling space. from 113-119 Charing Cross Road to at 12-14 Polygon, Clapham Old the iconic Central Sant Martins Town. This brings the number of Waterstones the book retailer, is set to building. London Knight Frank Residential open a branch of Hatchards in August, offices to 22. at St Pancras International railway Leon the healthy eating restaurant station. The 2,000 sq ft unit will be chain, is to ramp up expansion with adjacent to Fortnum & Mason. four openings this year and a further ten planning for 2015. Leon have 18 Marina Rinaldi the plus-size premium existing sites. womenswear brand, is to open a new store at 5 Albermarle Street, London. Costcutter the convenience store The label, part of Italian brand house operator, has announced plans to more Tweet of the Week Max Mara will open the 6,910 sq ft than double the number of store on July 4. convenience outlets from 2,500 to 6,000. Knight Frank Retail Wahaca the Mexican street food @KFRetail restaurant, is to launch a new fast food BrewDog the Scottish brewer, will casual concept called DF/Mexico at open 11 bars this year and is moving 11th June 2014 The Old Trueman Brewery, Brick Lane. into off-licences with five new stores. The new format will open on July 24. The Scottish brewer is currently investing £4m in expanding its new Annual #investment in #UK Curzon the cinema group, plans to brewery. #property hit £42 billion in Q1 increase its estate from nine picture 2014, the highest level since late houses to 25 within three years. Toys ‘R’ Us the toy retailer, is to open 2007 @FT a new store in Liverpool One's upper Prezzo the Italian restaurant chain, South John Street. The 12,968 sq ft http://ow.ly/xRXe6 opened its 200th venue this week in store is due to launch later this month. York at Vangarde Shopping Park. RETAIL IN DETAIL: 13th June 2014 Retailer optimism RETAIL OUTLOOK FOR THIS WEEK John Lewis the department store, reported that sales jumped 18.2% to WHSmith the stationery and book £70.8 million in its week to 7th June, retailer, has recorded a flat total one of its best increases this year. revenue in its third quarter, the first Electrical and home technology was the new online platform that saw sales lift such period sales have not declined in top performing division with sales up 48.1%. During the period, the brand five years. Total sales across its travel 24.9%. Online sales grew by 31% while has opened two shops in Glasgow and stores grew 4% and like-for-like sales shops recorded a 13.6% rise. Heathrow Terminal 2. Wholesale sales were flat, however in the 14 weeks to Meanwhile, at sister grocer Waitrose were also up 25.2%. June 2 like-for-like sales fell 2%. like- sales advanced 4.6%, excluding petrol, for-like sales across its high street to £123.5 million as people snapped up Holland & Barrett the health food stores performed ahead of food for barbecues. Top sellers include retailer, has posted pre-tax profits expectations despite falling 4%. The imported whisky, which was up by 50% jumped 13.3% to £84.3 million in the retailer has bought 3.2 million shares last week, brandy, up by 46%, and year to September 2013. Sales and returned £33 million to cognac, which soared 73%. – a result of increased 4.3% to £349.6 million as the shareholders of the £50 million share Father’s Day and the World Cup. retailer opened seven new stores and buyback announced in October. 42 new franchises in the period. The Ted Baker the fashion brand, has company operates 664 UK stores and Did You Know? reported a strong start to their financial 72 franchise outlets in seven countries. Foyles the bookstore, was founded year with a 17.9% increase in group In addition, the retailer plans to target in 1903 when brothers Gilbert and sales for the 19 weeks period to June. 300 stores in Belgium and Holland. William Foyle both failed their civil Retail sales were up 15.8% and average NBTY Europe that own Holland & service exams and sold the books retail square footage rose by 9.5% to Barrett operate 664 UK stores plan to they used when studying. 323,872 sq ft. The retailers’ ecommerce open 65 retail sites across UK and business also improved as a result of a Ireland. Market sentiment increased revenue, other retailers are shopping behaviour is likely to change, expected to benefit too. The extent to which could impact normal trading this may be limited to England’s hours, as many of UK’s matches during With the first game of the World Cup progression through the tournament, the tournament start after 5.00pm. kicking off last night, retailers are past the group stages. Should the During the 2010 World Cup in South hoping the month long tournament will Three Lion progress to the second Africa between 3.00pm and 6.00pm, on boost sales. Retailers are expected to round of the World Cup, retailers could average, footfall fell by 28% on the score sales of £814 million, as football benefit from a share of nearly £1.3 days when an UK match begun after fans are forecast to spend £271 million billion in extra sales. It is expected that 3.00pm. In comparison, footfall on food, £359 million on electrical over 23 million people in the UK are dropped only 2% when a match goods and £184 million on souvenirs. likely to go on a spending spree this involving England begun later, at Tesco’s have announced that sales of June and should England reach the 7.30pm. Retailers must react quickly to widescreen TV’s have almost doubled final, spending per capita on retail and changing market trends in order to and although supermarkets are leisure is expected to double from £56 maximise the potential. expected to take the lion’s share of to £112. With later kick-offs, 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. .