retail
Sainsbury’s has reported a strong return to physical stores over the Christmas period, as online grocery sales fell by over 10%. CEO Simon Roberts said that the postal strike fostered uncertainty over whether products would be delivered by Christmas, leading customers to shop in person. He also highlighted the impact of the cost-of-living crisis: “[Customers] preferred to come in and see what they are buying and see the deals and offers. It’s easier to do that when you go into a shop and see it all.”
Several brands have announced the opening of new flagship stores in London. Swiss retailer On running will open its first standalone European store on Regent Street in February, over a three-story, 860sq. ft. space. Hat brand Stetson has agreed a deal with Shaftesbury to open a 1,165sq. ft. store in Seven Dials. Jewellery brand Pandora is also set to open a new store in a prime corner unit opposite the Tottenham Court Road Elizabeth Line exit on Soho’s Dean Street.
Leisure
The Famously Proper group will permanently close nine of its Byron restaurants, transferring the remaining 12 to Tristar Foods Limited. The closures include a Byron site in Wembley which opened in summer 2021— the group’s first launch in five years. This latest development is the third restructure the Byron brand has seen in under five years, with closures in 2018 and 2020.
Vegan burger brand Halo Burger is launching five dark kitchens to ensure delivery coverage across much of London. The dark kitchen sites, opened in partnership with Sessions, are in Richmond, Canary Wharf, Finsbury Park, Queen’s Park and Fulham, the latter of which is set to open this month. Halo Burger founder Ross Forder said: “Now because of the partnership with Sessions, Halo can now be delivered to the majority of London- an ambition I always had. We look forward to seeing the results of our partnership with Sessions and believe this is just our first step.”
Property
SEGRO has acquired the Bath Road Shopping Park in Slough. The retail park covers close to 11.4 acres and is situated near Slough Trading Estate in Berkshire. It includes 10 warehouses, with currently a third of these vacant. SEGRO said in a statement: “Land suitable for industrial development is in high demand and short supply in the Thames Valley,” adding that the shorter lease terms on the park’s retail units provide opportunities for redevelopment.
901
901