PUBLISHED: 09:46 27 March 2019 | UPDATED: 09:46 27 March 2019 Mike Ashley has doubled his bid to buy Debenhams. PHOTO: ANTONY KELLY © ARCHANT NORFOLK 2009 Mike Ashley has revealed he is considering paying double for shares in Debenhams, in his bid to take over the chain. The Sports Direct tycoon has been making offers on the department store retailer for a number of months, and has now said he would buy 70% of the firm’s shares for 5p - which are currently valued at 2p.It would be another stake in high streets across the county if Mr Ashley were to be successful, with Debenhams stores in Norwich, King’s Lynn and Great Yarmouth. MORE: Ten Bells up for sale amid fears for pub’s futureOnly last year, Mr Ashley also purchased House of Fraser. The chain’s outlet in Norwich was originally set to close but was saved following negotiations in the eleventh hour. Mr Ashley’s possible bid would now value Debenhams at £61.4m.Debenhams has so far resisted … [Read more...] about Mike Ashley doubles Debenhams offer to gain further stake in UK high streets
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PUBLISHED: 11:22 17 January 2019 | UPDATED: 11:31 17 January 2019 Daniel Whytock Today, shoppers want the best of the on and offline world. Picture: PAUL GEATER Archant Daniel Whytock from www.downyourhighstreet.com discusses what tech is likely to impact the retail sector in the coming years. Retail tech is moving fast and high street retailers must act or get left behnind . Picture: GREGG BROWNIs online shopping truly causing the end of high street shopping? Amazon is investing in brick and mortar stores, which suggest that the high street still has a place in our shopping future. As consumers we want the best of both on and offline worlds and more: convenience, choice, and a diverse range of shops and businesses.As grim as things appear to be on the UK high street today, there is a way back - omni-channel retail that seamlessly integrates digital technology is the key to high street survival.But retail tech is moving so quickly that if high street … [Read more...] about How can high streets retailers make best use of technology?
PUBLISHED: 00:00 05 January 2019 Richard Porritt Despite some retailers reporting a late spike in festive sales overall results were down Picture: ANTONY KELLY Archant Norfolk 2016 Despite better-than-expected results from some of the East’s big high street names retail sales fell in December. According to a high street tracker conducted by accounting firm BDO, store sales fell by 1.9% last month year-on-year – the sixth successive December to record negative sales growth.And the gloom does not end there – December was also the worst year on record for like-for-like sales with 2018 recording 11 consecutive months of negative sales growth since January.The news comes after Next and John Lewis reported decent festive periods.Fashion and lifestyle retailers were the poor performers, with sales plunging 2% and 3.9% respectively in December.However, in-store homeware sales grew 9.3% and online sales grew 11.9% as consumers opted to do … [Read more...] about High street reach new low in December
Lowestoft High Street. Picture: Nick Butcher Archant © 2018 The prolonged hot weather and World Cup fever has scorched the UK high street with retailers suffering another month of negative growth, figures show. The high street saw a 1.1% fall in total like-for-like sales in July, the sixth month in a row of negative figures, according to accountancy and business advisory firm BDO’s High Street Sales Tracker.Heavy discounting led to sales growing 1% year-on-year in the first week of July, but footfall fell away because of the dual distractions of scorching sunshine and England’s unexpected progress in the World Cup.Sales declined by more than 2% in weeks two and three and remained flat in week four as the heatwave intensified.Year-on-year fashion sales grew 1.3% in July, the first time since September last year that in-store fashion like-for-like sales had grown by as much as 1%, but this was against a soft base of minus 3.5% for July 2017.The lifestyle sector … [Read more...] about How World Cup fever and heatwave have frozen retail sales on the high street
NEARLY 100 Carphone Warehouse stores are to close this year as the retailer's new boss pledged to "take action" to tackle challenges in the mobile phone market. Dixons Carphone said that it will shut 92 Carphone Warehouse standalone stores this year as it grapples with changing consumer habits. Hard-pressed consumers are holding on to older devices for longer and going "Sim-only", which have dented the group's performance. However, the firm - which has around 25 outlets in Northern Ireland - insisted that no jobs will be lost as staff will be offered the chance to move to larger outlets nearby. New boss Alex Baldock, who replaced the long standing Seb James earlier this year, said: "Right now, with our international business in good shape, we're focusing early action on the UK. "In electricals, we're focused on gross margin recovery. In mobile, we're stabilising our performance through improvements to our proposition and network agreements. "In both, we'll work hard to improve our cost … [Read more...] about Carphone Warehouse to shut 92 stores as high street pain continues