It’s official — Thailand’s Central and Austria’s Signa are buying Selfridges Group from the Weston family. The transaction “will create one of the world’s leading omnichannel luxury department store groups”.
NewRiver has been busy selling off some of its shopping centre interests. The London-based real estate investment trust has sold Poole Retail Park in Dorset and Templars Square Shopping Centre in Cowley, Oxfordshire.
Figures on Wednesday revealed that despite general trends showing UK consumers shunning busy shopping destinations, London West End footfall was higher on Tuesday than it had been exactly a week earlier.
Speculation has resurfaced that THG (formerly The Hut Group) could be taken private again by its founder with the firm’s battered share price rising as investors buy in hopes of a privately-backed buyout.
M&S has sent out a further signal about its focus on digital with the news that it has added a key new role in its Digital & Data team. Krista Nordlund is its new chief digital product officer and joins in the New Year.
With consumer concerns over the spread of Omicron, it’s no surprise retailers and couriers are experiencing a late “avalanche” of last-minute gift deliveries as visits to physical stores collapse by 25%.
It’s been a disappointing end to the retail year as Omicron devastated any hopes that November’s positive expectations would accelerate. That’s the unsurprisingly bleak reading from the latest CBI monthly survey.