Customer behaviour

Things go from bad to worse as Poundworld to close another 80 stores

Another 80 Poundworld stores will be closed, resulting in 1,024 job losses, the company’s administrators have said. The latest announcement means that 105 of the company’s 335 stores are now earmarked for closure. Poundworld went into administration last month after failing to cope with rising costs, fewer shoppers and greater competition. The company’s administrators, Deloitte, […]

Royal Wedding sales lift to be limited say economic forecasters

Prince Harry’s wedding to Meghan Markle may have bells ringing but it won’t keep UK tills ringing, an economic forecasting group has found. The overall benefits to the UK economy from the nuptials will be “limited”, says the EY ITEM Club. It predicts tourism and retail businesses as the most likely to benefit from the […]

High street store footfall continues its ‘unprecedented’ decline

Poor weather and a squeeze on spending caused a slide in the number of people visiting shops last month. Footfall fell by 3.3% last month according to the British Retail Consortium (BRC) and Springboard. That was lower than the 6% decline in March, but was still an “unprecedented” 4.8% decline over the two-month period. Diane […]

House of Fraser woes continue as it slumps to a £44 million loss

Department store group House of Fraser lost almost £44m in 2017 as sales fell. The department store’s potential new Chinese owner, C.Banner, said the loss of £43.9m reversed a pre-tax profit of £1.5m for the previous year, while sales fell 6.3% to £787.8m. It blamed Brexit, terror attacks and online for damaging the performance of […]