Insights Hub

A week on the high street - 16th September 2020
Date published: Date modified: 2021-10-28

retail

In some good news for the sector,  fashion retailer New Look’s CVA has been given the green light from landlords. The CVA will save about 11,000 jobs and will see around 400 of its stores moving to turnover-based rental models. Chief Executive Nigel Oddy, stated that physical stores still have “a significant part to play in the overall retail market and our omnichannel strategy”.


Fashion and beauty retailer Next has been successful in its bid to takeover the UK arm of lingerie and leisurewear brand Victoria’s Secret. Next will acquire a 51% stake in the brand and will operate its UK and NI store portfolio as well as the firm’s online operation.

Tesco has waged a price war across thousands of branded and home products for Clubcard members in a bid to take on the discounters. Tesco has also extended its ‘Aldi Price Match’ in a bid to take market share back from rival grocer Aldi. Tesco’s chief customer officer Alessandra Bellini said: “We know that great value matters to customers more than ever before – that’s why, to reward our loyal customers, we’re offering everyone with a Tesco Clubcard access to hundreds of exclusive deals… We’re also offering everyday low prices on hundreds of products, so that customers can get clear and consistent prices on the products they buy regularly.”

Premium fashion brand Phase Eight has launched a personal styling service in a bid to enhance its in-store experience. Customers will book an hour appointment in advance where they will specify requirements and staff will work to ensure that appropriate products are in stock for that customer to purchase. “Thanks to the convenience of Personal Stylist, our customers are a click away from booking a store appointment,” said MD Simon Pickering “These appointments allow us to create a seamless approach across digital and stores. It’s a great example of how digital and bricks and mortar can work together to deliver a personal shopping experience for the Phase Eight shopper.”

Teeth straightening business SmileDirectClub has announced a roll out of ‘SmileShops’ across British high streets starting this month. SmileDirectClub currently operate a platform where customers are connected with a registered dentist who oversees straightening and whitening of teeth. The SmileShops will offer customers an opportunity to have teeth 3D-scanned and whitened on the premises.

Shopping Centre Liverpool ONE has launched a new bar concept in partnership with Sipsmith Gin and Camden Town Brewery called The Chavasse Project’. The project will see a range of temporary cabins offering one-of-a kind tasting experiences featuring the premium alcohol brands' products in a COVID-safe environment.


Aldi is trialling a click and collect service for staff from a store in the East Midlands, which, if successful will be rolled out to customers and other stores in the coming weeks and months. Giles Hurley, CEO of Aldi UK & Ireland, said: “We know that more and more people want to access the high-quality, affordable food they know they can get at Aldi. This is yet another way we are innovating to make sure we best serve our existing customers and make Aldi’s great products and unbeatable prices available to even more people.”

 

LEISURE

 

Shoppers spent £155m less in supermarkets last month as a result of the Eat Out to Help Out scheme, according to data from Kantar.

Leisure trade body UK Hospitality has called for the furlough scheme to be extended beyond October in a bid to save around 1 million jobs in the sector.  In an interview with trade publication The Caterer, Chief Executive Kate Nicholls said "Around a quarter of premises in the sector are still closed. Those that have managed to reopen will still be trading at a reduced capacity... There are around one million workers in the sector still having their jobs supported by the furlough scheme and they are at risk of redundancy if further support isn't forthcoming."

Casual dining restaurant and bar chain Loungers has reported strong trading performance since reopening post-lockdown. Excluding the impact of the Eat Out to Help Out scheme, the brand has reported positive like-for-like sales for the 9 weeks to the 13th September. The business has stated that reduced exposure to London and lower competition during the pandemic has supported its performance. CEO Nick Collins said “During lockdown we were confident the flexibility of our all-day offer, our suburban and market town locations and our focus on hospitality and community would ensure we emerged strongly. I believe these results have confirmed that to be the case.” The news comes as the chain opened its first venue post-COVID, in Hull.

 

PROPERTY

Turnover based models will become the ‘new normal’ according to a new report by Savills. The report also showed that retailers which previously favoured city centre locations are now reviewing in favour of more localised location strategy as businesses and workers adopt more home working.

 

OPENINGS AND CLOSURES

Travis Perkins has announced a decline in both profits and revenues after closing 165 stores in June; A brand-new store specialising in artisan cheese, The Chuckling Cheese Company, has opened its doors this weekend at intu Merry Hill; The rock ‘n’ roll legends that are the​ Rolling Stones​ open their world-first flagship store RS No. 9 Carnaby​ at 9 Carnaby Street in London’s Soho; Joining the Sloane Stanley estate, stylish tile retailer, Mandarin Stone, has now launched its 1,233sq ft showroom space at 255 Fulham Road; BrewDog, the international brewery and pub chain, will be opening a 4,000sq ft bar at The Barcode, the new leisure and entertainment development in Plymouth’s city centre.

 


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