Maxatec May Retail News
We’ll be honest – last month didn’t see much of an improvement overall for our British retail sector – although preparations for the Queen’s Diamond Jubilee brought some positivity to traders.
Clinton Cards bought by US firm American Greetings
Over half of Clinton Cards stores have been saved after the UK greetings card chain collapsed this June, taking out around 3000 full and part time jobs. American Greetings also has a UK-based operation based in West Yorkshire, and is predicted to retain Clinton Cards as a separate brand.
More bad news for Tesco
Tesco’s CE Philip Clarke has announced the superstore’s third consecutive fall in revenue. He blames its 1.5% decline in UK like-for-like sales on high oil prices and rising taxes leading to its customers experiencing a lack of disposable income.
Perhaps Tesco is experiencing a dose of karma – Mary Portas is blaming out-of-town superstores such as Tesco for the falling fortunes of town centres.The TV presenter and retail expert is calling for the government to pass a law that would require shopping centres to be built closer to home.
She blames large, out of town retail stores for falling numbers of high street shops, in a new 28 point report, commissioned by David Cameron; The Portas Review. The vast majority of shops built over the past 10 years were superstores, according to the review.
Infographic: the decline of the British high street.
Don’t worry, we wouldn’t leave you on such a depressing note – here’s some cheerful news about the boost provided by the Queen’s Diamond Jubilee. According to the Daily Mail, the country spent £823m on food, drink and decorations to celebrate the occasion. John Lewis reported a ‘sharp rise’ in sales over the Jubilee period, and Waitrose saw a record week of trading, with turnover peaking at £123 million.