retail
According to the latest BRC-KPMG Sales Monitor, retail sales slowed in October as consumers limited spending in preparation for Christmas. In the three months to October, non-food sales decreased 1.2% on a total basis and 1.8% on a like-for-like basis. Online non-food sales dropped by 6.3% in October, compared to a decline of 8% in October 2021. BRC chief executive Helen Dickinson said: “Christmas will come later than last year for many and may be more gloom than glitter as families focus on making ends meet, particularly as mortgage payments rise. Retailers hope the World Cup and Black Friday will give sales a much-needed boost ahead of Christmas.”
Online retailer Watch Pilot has opened its first physical store in London’s Richmond. The store stocks 30 watch brands at varying price points, including Marathon, Casio and Rotary. The Richmond site was chosen due to a lack of watch stores in the area, providing an opportunity for brand awareness. Co-owner Tim Harrison said: “We’re targeting affluent areas.” He added: “Their wallets will be less affected by the cost-of-living crisis.” Watch Pilot has already launched its Black Friday sale to allow customers to spread the cost of Christmas shopping.
Shoe store Kick Game is to open its first Newcastle store on Friday. The retailer, which hosts exclusive streetwear and trainer ranges from big-name brands including Nike and Supreme, will stock over 450 styles of shoes at the new store, which at 1540sq. ft. is 25% larger than its flagship in London’s Covent Garden. Chief executive Alicia Thompson said: “Newcastle has been on our radar for some time, and we’ve finally found a store space and location that will showcase the incredible sneakers and apparel we source very well.”
Tesco will open three new stores as part of its checkout-free GetGo trial. The stores will open at London’s Chiswell Street Express and Fulham Reach Express, and Birmingham’s Aston University Express, and will offer the option to use a self-service or staffed till as well. Tesco launched the first GetGo store on London’s High Holborn in October 2021.
Property
Morrisons is to close 132 of the 1,164 McColl’s convenience stores it bought out of administration. Most of the stores will close by the end of 2022, but 55 stores that include a Post Office will remain open until next year. Most remaining stores are to be converted to the Morrisons Daily format “within the next two to three years”.
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