It’s always interesting to see how the owners of UK shopping centres are faring, especially in an environment in which footfall to such centres is dropping and many stores are exiting leases on the back of CVAs.
There was further confirmation of the bleak state of UK retail on Monday as specialist footfall tracker Springboard released visitor traffic figures for October. And what did they show? Unsurprisingly, another decline.
The owner of the Ikea furniture brand expects sales to grow this fiscal year as online trade expands, but profits will be tempered by increased investment as the brand battles web specialists like Amazon and Made.
The UK’s already-fragile consumer confidence fractured further in October with the latest GfK survey showing it’s dangerously close to breaking point and offering no encouragement for the Christmas shopping season.
Lindex improved in Q3 and owner Stockmann is mulling strategic alternatives for the chain, but the firm's department stores remain a challenge, although strategy tweaks focused on fashion, beauty and home are under way.