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Featured on Commercial People:
High Streets and Town Centres 2030: Commercial People reports on Mike Ashley’s proposals on how to arrest the decline of the high street.
McColl’s Retail Group publish their Q4 & full-year results amid a disruptive 2018.
US beauty brand Morphe Cosmetics opens its first store outside of London, at Birmingham’s Bullring shopping centre.
Phase 1 of the North Star Village will be a game changer to the area of Swindon. Featuring 500,000 sq ft of retail space, a ski centre and more.
The shopping centre management firm announces some major brands coming across their portfolio of centres. | Find out who’s signed up…
Also in the News:
Ted Baker witnesses “resilient performance despite challenging external trading conditions”
Ted Baker, the global clothing and lifestyle brand announced a ‘Trading Update’ on Thursday outlining their sales performance for the 16 weeks from 11th August – 1st December 2018.
The fashion brand is currently in the news for all the wrong reasons as discontent grows regarding CEO Ray Kelvin’s inappropriate behaviour; including forced hugging, inappropriate touching, and contributing to a culture ‘that leaves harassment unchallenged’.
Ted Baker Founder and Chief Executive Ray Kelvin CBE, said: “We are pleased with the brand’s continued expansion, which is a reflection of the strength of the Ted Baker brand and the design and quality of our collections.
The investment in our flexible business model ensures that the Ted customer has multiple channels to engage with the brand and underpins our long-term development. Our global e-commerce business continues to grow well and is complemented by our digital marketing strategy and unique stores that showcase the brand.”
The embattled retailer saw total retail sales including e-commerce increase by 2.3%, with e-commerce sales alone increasing by 18%.
Sales for e-commerce now represent 30.3% of total retail sales, a stark improvement from 2017 which saw e-commerce amounting to 26.3% of the total retail sales.
Wholesale sales, however, decreased by 6.5%, with Ted Baker attributing this decline to “unseasonal weather” in the UK, as well as the challenges facing the retail market as a whole.
Kurt Geiger Officially Opens New Birmingham Store
The Bullring Estate announced that the designer brand Kurt Geiger has officially opened a new store within the Bullring.
Located on the Mid-level East, the 1,800 sq ft store is the final brand of the Bullring’s four major brands to launch in the mall before Christmas.
Kurt Geiger’s Retail Director, Ross Warden said: “Since launching the brand on Bond Street in 1963, Kurt Geiger has set itself apart and become the country’s leading premium footwear and accessories brand. We are delighted to have opened our first flagship store in the West Midlands. The new store will showcase our full collection of shoes and accessories for women and men in Birmingham. With its location right in the heart of the city, Bullring was the obvious choice for our new flagship.”
Headlines in Brief:
Boohoo Respond to Media
The online clothing retailer Boohoo issued a statement yesterday regarding their advertising practices breach. Boohoo announced that they have been in correspondence with the Committee of Advertising Practice (CAP) and the Advertising Standards Authority (ASA) to follow CAP’s guidelines.
Swedish Retailer to Leave UK Market
A reported 150 jobs are on the line as Clas Ohlson announced their plans to close all UK stores following a significant 74% operating profit drop.