Author: Scott Dylan

Victoria’s Secret is set to launch a new store in Glasgow Fort, introducing a fresh retail concept in autumn 2024.This will be Victoria’s Secret’s second standalone store in Scotland, heralding a new design approach.The store is part of significant developments at Glasgow Fort, which saw 24 new leases, including prominent brands.A joint venture with L Brands and Next supports the operation of all Victoria’s Secret’s UK and Ireland stores.Victoria’s Secret aims for inclusivity and empowerment through its latest retail space.Victoria’s Secret is poised to introduce an innovative store concept at Glasgow Fort, opening in autumn 2024. This new retail space…

British luxury brand Burberry is reportedly considering significant job cuts amid financial struggles.The company announced a restructuring plan following a dramatic 34% fall in profits.Up to 400 jobs, mainly in the UK, are at risk, requiring employees to reapply for roles.Burberry’s market value has declined significantly, risking removal from the FTSE 100.Sales in the Asia Pacific region, Burberry’s largest market, have sharply decreased.British luxury brand Burberry appears to be navigating turbulent financial waters as it considers significant staffing reductions. Following a notable 34% year-on-year decrease in adjusted operating profit to £418 million for the year ending 30 March 2024, the…

Office rents in Bristol are soaring due to mounting demand for high-quality spaces amid limited supply. This trend is reshaping the city’s commercial property landscape.The Bristol Office Agents Society reports record-high headline rents, now at £48 per square foot, as businesses focus on securing Grade A offices.The demand for Grade A office spaces in Bristol has substantially increased, leading to a significant rise in rent prices. Currently, headline rents have reached £48 per sq ft, marking the highest among the UK’s major cities. This rise is attributed to several large deals, including a 20,365 sq ft letting at One Temple…

CyberPowerPC has embarked on its third relocation within Gateshead, moving to a new 43,000 square foot facility. This move signifies the company’s robust growth trajectory under Managing Director Brian Lin’s leadership.With its origins in the United States, CyberPowerPC has firmly established its presence in the UK, supported by industry giants such as Intel, AMD, Nvidia, Asus, and Microsoft. The UK operation has expanded significantly, now employing over 50 staff.CyberPowerPC’s latest move to a larger facility is in response to the burgeoning demand for gaming PCs and other computer hardware, catalysed by the global pandemic. The increase in home-based activities has…

In recent weeks, several notable appointments and promotions have taken place across prominent companies in the North East of England. This dynamic region continues to see significant personnel changes that reflect growth and strategic vision.From legal roles to corporate finance, these appointments highlight the diverse opportunities and career advancements available in the North East. The following sections provide insights into these significant personnel moves and what they mean for the involved organisations.OnPath Energy’s Strategic AppointmentRenewable energy developer OnPath Energy has made a strategic addition to its executive team with the appointment of Ashley Wright as general counsel. Bringing over thirty…

The transition period following election results can be daunting for former MPs. Recent data focuses on the severance packages available to those leaving office.Many MPs now face the task of winding up their offices and handling staff redundancies. Here, we explore the financial compensations that are on offer.Understanding Redundancy PackagesFor MPs who did not retain their seats, the Independent Parliamentary Standards Authority (IPSA) outlines specific redundancy terms. These terms ensure that both MPs and their staff are fairly compensated for their service. MPs are entitled to a ‘winding up’ payment, which equates to four months’ salary, easing the transition back…

The recent landslide victory of the Labour Party is seen as an opportunity to boost consumer confidence in the UK.Andrew Goodacre of Bira highlights the need for urgent economic growth and business rate reform.Keir Starmer’s government is expected to prioritise small retailers’ discounts amidst weak consumer confidence.Election outcomes have affected retail sales due to unseasonal weather and economic uncertainty.Labour’s victory could provide stability after political turbulence, according to retail industry voices.The Labour Party’s substantial victory in the recent general election presents a crucial opportunity to enhance consumer confidence across the United Kingdom. Following the election, Andrew Goodacre, CEO of the…

The recent Labour Party victory in the general election has garnered varied reactions from the fashion retail industry.Many industry experts see this political shift as a chance to address key economic and regulatory challenges.Retail leaders hope for reform in business rates and the re-establishment of tax-free shopping to invigorate the sector.Labour’s promises include addressing retail crime and supporting high street businesses in the UK.With Labour in power, the sector anticipates policies that align with the industry’s growth and sustainability.In a significant turn of events, the Labour Party secured over 400 seats in the recent general election, an outcome expected to…

This article explores the recent trend of retailers becoming landlords, highlighting the strategic property acquisitions by Frasers Group and Ikea.Frasers Group expands its property portfolio with the acquisition of Frenchgate shopping centre in Doncaster.Shopping centre prices have decreased by up to 90% over recent years, making them attractive investments.Retailers aim to leverage their brands to reposition shopping centres and boost profitability.This trend signifies a strategic shift in how retailers engage with high street and regional town centre development.The Frasers Group has made headlines with its acquisition of the Frenchgate shopping centre in Doncaster, marking its third property investment following The…

The British Retail Consortium (BRC) emphasises urgent reforms to the planning system and business rates.UK footfall decreased by 2.3% in June, following a larger decline in May.Shopping centres and high streets saw the most significant drops in footfall numbers.Retailers are hopeful that summer events will improve consumer visits.BRC advocates for policy changes to stimulate local high street recovery.In June, the UK experienced a 2.3% decline in total footfall, reflecting ongoing challenges in the retail landscape. This decrease followed a 3.6% drop in May, highlighting a trend that is causing concern among retailers nationwide.Shopping centres faced the most significant year-on-year decline…