Weekly Retail & Leisure News - 24 November, 2014
Retail sales volumes in October increased 0.8% month on month according to the ONS, this represents the nineteenth period of consecutive year-on-year growth. Sales recovered after a fall last month as average store prices dropped by 1.5% year on year in October, representing the largest fall since December 2002. The proportion of sales made online fell marginally by 0.1% to account for 11.2% of all sales.
The on-going strength in the food and beverage market can be seen through several international and national leisure operators announcing expansion plans this week. National restaurant group, Prezzo, is set to open its 250th site later this week, as Mexican fast-food chain, Tortilla, has secured a £11.1m loan from Santander, to open another 25 to 30 outlets. Furthermore, several other restaurant operators, including Loungers, Chop'd, Honest Burgers and Blue's Smokehouse have all announced plans for growth.
F&B is clearly one sub-sector of the UK retail market that is showing real resilience to the impact of online sales and structural change. Responding to this growth and success of the restaurant and wider food and beverage sector, JLL has acquired the market-leading Coverpoint Foodservice Consulting business. The transaction will enable JLL to provide comprehensive food and beverage consulting advice to a broad mix of clients across Europe. This key new business acquisition reflects rising investor interest in a more sophisticated understanding of how food and other catering operations contribute to the success of retail and leisure destinations, while also meeting a growing appetite for understanding how foodservice drives the corporate workplace agenda.
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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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