Weekly Retail & Leisure News - 30 November, 2015
UK shoppers are expected to have spent around £2bn on Black Friday, up 30% on last year, according to Experian-IMRG. Customers are spending more than ever online and Amazon reported its biggest sales day in the UK as shoppers rushed to buy bargains on Black Friday. Tim Vallance,
Lead Director of JLL UK’s Retail & Leisure team said: “Black Friday has changed the Christmas retail goal posts in the UK for good. It now marks the start of the Christmas trading period."
In a busy week for trading updates, many UK retailers who participated in Black Friday have released positive results. Kingfisher's UK and Ireland LFLs increased 4.6% for the 13 weeks ending October 31, driven by a 13.3% surge at Screwfix; B&Q delivered a 2.4% rise. Pets at Home reported underlying pre-tax profit up 11.8% to £45.2m in the 28 weeks to October 8; LFLs advanced 1.8%. Signet has posted a UK LFL increase of 4.1% in the 13 weeks to October 31; Ernest Jones LFLs rose by 6.3% and H Samuel by 2%. And French Connection reported LFL sales rose 0.2% in the UK and Europe in the 16 weeks to November 21.
In other news for the UK retail sector, The Chancellor announced in his Autumn statement that local authorities will be able to keep all their self-generated funding schemes, which will in theory mean that they can lower the business rate burden. This and other effects of the revaluation will be far reaching and, in light of this, we are pleased to share with you the latest paper from JLL’s Rating Team, entitled ‘2017 – A brave new world?', exploring the potential impact of the revaluation on the UK’s property market.
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Director, Head of Retail Research (UK & EMEA)
+44 (0)20 3147 1155
Director, Head of UK Retail & Leisure
+44 (0)20 7318 7838
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