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Retail newsletter UK September 2010
French company to restructure Octopus
King Sturge has been retained by Pylones, the successful French retailer and manufacturer of gifts, to restructure the property side of its new UK business. Having been the major supplier of stock to Octopus, Pylones was well placed to acquire the UK operation when it gave notice of intent to apply for administration. The 17 existing shops are located in predominantly tourist areas including Covent Garden, Carnaby St and Westfield London. While it is hoped that the business can be turned around, King Sturge is renegotiating terms with landlords on existing stores to better reflect current market conditions.
Retail Sales
- UK retail sales values rose 1% in August on a like-for-like basis against a decline of 0.1% in 2009. Total year-on-year sales were up 2.8% against a 2.2% rise in August 2009.
- August saw a slight slowdown in food sales growth, however clothing and footwear faired better with the launch of new autumn/winter collections and the ‘back-to-school’ season. Homewares showed some improvement but sales still tended to be deal-driven.
- Non-food non-store sales (internet, mail-order and phone sales) were 17.8% ahead in August than a year ago. However, this gain is against a very poor performance in August 2009 when there was only an 8% gain.
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Контакты
Алексей Богданов
Директор Департамента офисной недвижимости, Партнер
Андрей Гущин
Заместитель директора Департамента офисной недвижимости, Партнер
Дмитрий Жидков
Заместитель директора Департамента офисной недвижимости, Партнер
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