Positive news for giant retail landlord Landsec. The UK’s largest commercial property firm said Friday it has made “good progress” on rent collections following over a year of widespread pandemic-induced disruption.
Positive news for UK fashion retailers on Friday. Total like-for-like fashion sales skyrocketed 73.7% in June, albeit from a base of -20.9% for June last year, bolstered in part by steady spending online.
As the pandemic caused major disruption in 2020 and early 2021, out of stock messages were frequent. But while they’ve become rarer recently, non-availability of the goods that customers want to buy is still a problem.
Major central London landlord Great Portland Estates (GPE) issued a trading update on Thursday and said that “momentum is building”. It also confirmed that Superdry is exiting its Regent Street flagship.
The Westfield name is going to be much better known in Europe from September with malls giant Unibail-Rodamco-Westfield (URW) set to rebrand six of its locations in four markets on the continent as Westfield only.
With Monday 19 July finally signalled as the day England becomes completely free of all Covid-related restrictions, there’s a warning that footfall across UK high streets may never recover to pre-pandemic levels.
There will be more store closures in UK this summer with news that Dutch variety retailer Hema will exit its six physical locations. It adds to the massive total of physical shops that have shut in Britain.