Co-op to invest in price cuts
The Co-operative Group is expected to announce that its profits have been boosted by the acquisition of Somerfield later this week. The retailer will now invest in price cuts.
Most Woolworths stores still lie vacant
Two years on from the retailer’s collapse two in five former Woolworths stores are empty. Of those that have been filled, most house pound shops.
MFI brand remade
Flat pack furniture retailer MFI is to be brought back to life under new ownership two years after collapsing. Walker Group, a family-run plumbing business bought the rights to the MFI brand for £250,000 earlier this month.
From The Guardian
Asda to spread online grocery south
Asda is planning to open a second “dark store” dedicated to its online grocery business. The warehouse in North London will help boost Asda’s market share in the south of England.
July sees sales hike
The high street enjoyed a bumper month of sales in July, as sales rose almost three times faster than expected, according to Office of National Statistics.
From The Times
Empty shops on the decline
The number of empty shops on Britain’s high streets has fallen to the lowest level for 18 months, according to a survey by property agent Cushman & Wakefield.
From The Telegraph
American Apparel in trouble
American Apparel, the US high street fashion chain, has posted losses of £4.5m in the three months to June and says its debts now amount to £77.2m.
Asda Boss Andy Clarke slams food quality
CEO Andy Clarke says Asda’s food is not up to scratch as the
Walmart-owned chain posts its second quarter of losses.
From The Mail
Major shopping centre to open in London
The first major retail development in London since the recession began opens on 28 October. The One New Change shopping centre near St Paul’s Cathedral will house many high street brands including Superdry M&S, Next, Reiss and Hobbs.
From The Independent