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Finance

Online retail

FCA extends deadline for implementing Strong Customer Authentication for e-commerce transactions

The Financial Conduct Authority (FCA) has announced the extension of its deadline for implementing Strong Customer Authentication (SCA) for e-commerce transactions to 14 March 2022, originally expected 14 September 2021.
Retail sales Primark

Retail sales soar as shoppers welcomed back to stores with clothing...

Retailers enjoyed a surge in spending as shoppers flocked to high streets, and in particular to clothing stores, following the easing of restrictions that led to the re-opening of non-essential stores on 12 April after months of enforced closures.
Castore Liverpool ONE

Billionaire Issa brothers now largest outside investors in Castore

Petrol station tycoons Mohsin and Zuber Issa, who recently acquired Asda, have become the largest external investors of fast-growing British sportswear brand Castore, according to The Times.
N Brown Group

N Brown Group loses more than £100m in revenue

N Brown Group, owners of Simply Be and Jacamo, has reported revenues decreased by 13% (£108.7 million) to £729 million in the 52 weeks to 27 February 2021, as the impact of the COVID-19 pandemic on the business is revealed.
Bluewater Shopping Centre

Landsec reports revenue profit down 39.4% to £251 million

Landsec, owners of shopping centres including Bluewater and West 12, has reported a loss before tax for the year of £1.393 billion, compared to a loss of £837 million for the previous financial year, as Government imposed lockdowns left many of its properties vacant and made rent collections difficult.
Reebok Adidas

Authentic Brands Group make a play for Reebok

Authentic Brands Group, parent of Forever 21, is reported to have made a $1bn offer for Adidas-owned Reebok.

UK inflation more than doubles as energy and clothing prices surge

Britain’s rate of inflation more than doubled in April as energy costs soared and clothing retailers hiked their prices, according to official figures.
Klarna

Klarna launches #WhyPayInterest campaign, highlighting “Britain’s broken credit model”

Pay later pioneer Klarna has unveiled its latest campaign, #WhyPayInterest, as it sets out to highlight Britain's "broken credit model".
Mytheresa

Mytheresa Q3 sales leap by 47.3% as it benefits from customer...

Mytheresa sales jumped by 47.3% in Q3 compared to the same period last years as the luxury online fashion retailer benefited from the continuing consumer shift to digital.
Steve Priest

eBay announces Steve Priest as new Chief Financial Officer

eBay has announced the appointment of Steve Priest Chief Financial Officer, where he will oversee all global aspects of eBay’s financial operations including controllership, financial planning and analysis, tax, mergers and acquisitions, and investor relations.
Westfield

Westfield parent company announces €1.25 billion bond placement

Unibail-Rodamco-Westfield (URW), owners of Westfield Stratford and Westfield London shopping centres, has confirmed it has successfully priced a €1.25 billion two-tranche senior bond offering.
Footfall

Wet weather takes the edge off indoor hospitality reopening as footfall...

Footfall across UK high streets and shopping destinations has sagged despite the latest easing of lockdown restrictions.

Weekly UK footfall rises +3.9% in high streets as shoppers “braved...

Overall footfall for 9 – 15 May, 2021, was +0.5% compared to the week before, wholly driven by a rise of +3.9% in UK high streets as shoppers faced the elements, while footfall in shopping centres and retail parks declined by -2.8% and -3.4% respectively.
Hospitality

Indoor hospitality reopens in England, Wales and Scotland as non-essential retail...

Indoor hospitality reopens in England, Wales and Scotland today (with certain restrictions in place), while non-essential retail will reopen across Ireland, in what should provide a much-needed footfall boost to shopping destinations.

Amanda Wakeley’s luxury brand falls into administration

British luxury fashion designer Amanda Wakeley's business has fallen into administration.
Amazon

Amazon to create 10,000 new UK jobs and invest in skills...

Amazon is to create more than 10,000 new jobs in the UK and launch a £10 million programme to help employees gain new skills.
Trafford Centre

The Trafford Centre appoints Pradera Lateral as Asset Manager

Manchester's The Trafford Centre has appointed Pradera Lateral as asset manager with immediate effect, following a competitive selection process by Canada Pension Plan Investment Board (CPP Investments).

Lyst, the fashion search engine, confirms $85m pre-IPO investment

Lyst, the fashion search engine, has confirmed that it has secured $85m in investment ahead of a potential float later this year.
Burberry

Burberry reports 32% sales rebound as demand picks up in Asia...

British luxury house Burberry has revealed that sales rebounded by 32% in its final quarter thanks to strong demand from wealthy shoppers in Asia and the US.
Pep&Co

Poundland accelerates expansion of Pep&Co brand

Poundland has confirmed the acceleration of the Pep&Co brand, which mostly operates as a shop-in-shop, targeting a total of 400 locations across the UK and Ireland before Autumn 2021.