Landsec retail sites enjoy strong quarter, fashion and beauty both boom
Retail outlet destinations performed particularly well, with sales up 11.2% and footfall up 8.4% as shoppers prioritised the experience of shopping in outdoor retail villages. The popular Braintree Village in Essex saw a 14.9% year-on-year boost in sales across the period.
And it added that the recent box office recovery has highlighted 'growing consumer demand for shared, immersive experiences'. Within Landsec's retail destinations, cinema sales surged by 38% year-on-year in Q1, nearly double the national increase of 20%.
While the jury is still out on the overall impact of the recent heatwave UK-wide (reports have suggested both a rush to stores and an unwillingness to shop), Landsec said the sunniest Q1 in recorded history encouraged shoppers to refresh their wardrobes and treat themselves to health and beauty products. Clothing sales rose by 15.7% year-on-year, with fragrance, health and beauty close behind at 15.5%.
This strong growth has also been driven by continued investment from brands. New store openings across its destinations have pushed overall occupancy to nearly 97%.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
France 24
4 hours ago
- France 24
UK lenders face $12 bn plus compensation bill despite court ruling: watchdog
The Supreme Court on Friday partially overturned judgments that the loans were unlawful, giving relief to banks which had been bracing for compensation claims from millions of car-buyers. It did, however, uphold one of the three cases, which allows the claimant to seek compensation. And in a similar but separate probe, the Financial Conduct Authority (FCA) said that the cost of any redress scheme relating to discretionary commission arrangements for car loans would likely be higher than £9 billion. "While there are plausible scenarios which underpin estimates of a total cost as high as £18 billion, we do not consider those scenarios to be the most likely and analyst estimates in the midpoint of this range are more plausible," the FCA said in a statement. The FCA estimates that most individuals will probably receive less than £950 in compensation. The court ruling had given the FCA "clarity... because we have been looking at what is unfair and, prior to this judgment, there were different interpretations of the law coming from different courts," it said. "It is clear that some firms have broken the law and our rules. It's fair for their customers to be compensated," said Nikhil Rathi, chief executive of the FCA. The Supreme Court decision mostly overturned Court of Appeal rulings last year that it was unlawful for car dealers to receive a commission on loans without sufficiently informing borrowers. In some cases, the loans -- available from 2007 -- allowed car dealers to offer higher interest rates in return for a bigger commission from banks. The ruling means that dealers have some leeway when arranging loans, without requiring explicit consent from borrowers for terms that may benefit lenders. The case that was upheld involved Marcus Johnson, who in 2017 bought a Suzuki Swift from a car dealer in Cardiff for £6,500 including loan costs -- unaware that interest on the loan amount would fund a commission of more than £1,600. When the Court of Appeal ruled in favour of Johnson, ordering FirstRand Bank, a South African based lender, to refund the commission plus interest, it sparked panic across the finance sector. That ruling was upheld by the top court due to the high level of commission Johnson was charged and the complexity of the contract setting out the fee, which limits the scope of other compensation claims.
France 24
3 days ago
- France 24
Musk's X accuses Britain of online safety 'overreach'
The Online Safety Act's "laudable intentions are at risk of being overshadowed by the breadth of its regulatory reach," X said in a post to its Global Government Affairs account. "A plan ostensibly intended to keep children safe is at risk of seriously infringing on the public's right to free expression," it added, arguing that the impact "shows what happens when oversight becomes overreach". Beyond the law, X criticised a separate new code of conduct for online platforms as "parallel and duplicative" as well questioning the free-speech impact of a new police unit tasked with monitoring social media. The social network nevertheless last week introduced formal systems for age verification in response to the British law as well as new rules in Ireland and the wider European Union. Its options range from estimating the age of a user based on the date their account was created or their email address, to requesting a selfie whose age would be determined by artificial intelligence, or uploading an official ID document. Media regulator Ofcom says such age checks -- required since July 25 -- must be "technically accurate, robust, reliable and fair". Platforms failing to comply risk fines of up to 18 million pounds ($24 million) or 10 percent of their global revenue -- whichever is larger. Serious infringers could be blocked from British territory. The fight over age verification to access sensitive content in Britain echoes months of debate in France over new rules requiring pornography sites to verify users' ages -- a step also required by many US states. While hailed by child safety campaigners, opponents say such requirements risk compromising legitimate users' privacy -- or even exposing them to scams such as identity theft if the personal details used to verify their age were to be hacked. Many people resort to virtual private networks (VPNs) to get around territorial restrictions on access to online content. The most popular free apps on Apple's UK download store since last week have been VPNs, with one, Proton, reporting earlier this week a 1,800 percent rise in downloads, according to British media.
France 24
3 days ago
- France 24
Newcastle reject Liverpool bid for Isak: reports
Isak has been training at his old club Real Sociedad this week after reportedly telling Newcastle he wants to leave St James' Park. The 25-year-old has been linked with Liverpool since the end of last season and the Premier League champions are now believed to have formalised their interest with an offer of around £110 million ($159 million) plus potential add-ons. But Newcastle, who reportedly value Isak at £150 million, remain keen to hold onto their prize asset and have rebuffed Liverpool's initial bid. Isak, who joined Newcastle in a £60 million move from Real Sociedad in 2022, scored 23 Premier League goals last season to help Newcastle qualify for the Champions League. He has three years left on his Newcastle contract, but did not travel to Asia for the Magpies' ongoing pre-season tour, with the club saying he had a minor thigh injury. On Thursday, Real Sociedad confirmed he was at their Zubieta facility with his own trainers. It was reported on Friday that Newcastle had told Isak he could agree a new deal containing a get-out clause for next year, but he responded by insisting he wants to move now. Liverpool manager Arne Slot has already bolstered his attacking options by signing Eintracht Frankfurt striker Hugo Ekitike and Bayer Leverkusen playmaker Florian Wirtz during the current transfer window. But the Reds are keen to make their forward line even more formidable by adding Isak as they look to win back to back English titles for the first time since the 1980s. Newcastle boss Eddie Howe struck a defiant note earlier this week when he said: "He is still our player. He's contracted to us. "We, to a degree, control what is next for him. I would love to believe all possibilities are still available to us. "My wish is that he stays, but that's not in my full control." Liverpool have spent over £250 million so far in the summer window, with Milos Kerkez, Jeremie Frimpong and Giorgi Mamardashvili joining Wirtz and Ekitike at Anfield.
