Political Scene

David Cameron has promised that a Conservative government will do more to help small shops. This is an early release prior to the work of the Conservative Enterprise Commission on small shops and high street regeneration that will release its report in May. The CEO of bssa has been a member of the Commission and is very hopeful that the recommendations, if they become policy in the party manifesto, will make a significant difference to the long term welfare of the high street and independent retailers generally. We would hope to publish a full report in June.

 

 

 

 

Record quarter for profit warnings

Research released by Ernst & Young revealed that UK plc saw no respite in the first quarter of 2008 as profit warnings reached 114; the highest first quarter figure since 2001 and up 11% from Q1 2007.

 

Profit warnings remained above the 100 mark for the second quarter in a row.

 

The highest warning sectors were general retailers with 18, equalling their record peak of Q1 2007, support services with 14, software and computer services with 13 and media and general financial with eight.

 

The 12 months to the end of March 2007 saw 26% of the sector issuing a warning. By comparison, 42% of FTSE general retailers had issued a warning to the year to date ending March 2008.

 

 

 

BIG pressure on chains

An independent retailers’ pressure group in Bath is up in arms over the number of chain stores entering the city – and has set out a list of demands to allow small stores to flourish.

 

The Bath Independent Group (BIG), under the leadership of local toyshop owner and former mayor of Bath Eric Snooks, presented findings to local authority officials which showed shoppers want cheaper parking, a greater range of shops and more public conveniences.

 

BIG has the support of John Dean, chief executive of the British Shops and Stores Association (bssa), who said the campaign highlighted a nationwide issue.

 

BIG represents more than 120 shops around the city.

 

 

 

April 19: Retail space hits a low

Demand for retail space on the UK's high streets and shopping centres has fallen to its lowest level in a decade, the Royal Institution of Chartered Surveyors has found.

 

The Royal Institution of Chartered Surveyors (Rics) warns that the first quarter saw a fall in demand for commercial property at its fastest pace in more than six years.

 

Rics blamed fears of credit turmoil and a slowing housing market.

FW: High street gloom

High street gloom

 

Figures from the Retail Traffic Index (RTI) by analysts SPSL show that monthly footfall numbers (people actually entering shops) in the UK were down by 3.2% year-on-year and up by only 0.8% on February's figures.

 

 

 

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FW: [Your Barkingside] Somerfield in takeover talks with Co-op

  

Somerfield has held exclusive talks with Co-op about a deal to purchase Britain's fifth largest grocery chain.

Press reports have said that Co-op has put in a revised bid – it's first was £1.7bn – for Somerfield, which has allowed talks to resume, and conduct due diligence on Somerfield's accounts.

 

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Posted By Barkingside Business Partnership to Your Barkingside at 4/14/2008 12:51:00 PM

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Somerfield in takeover talks with Co-op

Somerfield has held exclusive talks with Co-op about a deal to purchase Britain's fifth largest grocery chain.

Press reports have said that Co-op has put in a revised bid – it's first was £1.7bn – for Somerfield, which has allowed talks to resume, and conduct due diligence on Somerfield's accounts.