Up-to-date coverage of the latest events in UK retail.
11:33am Sales value and volume up in December, ONS reports
Retail sales rose both by value and volume year on year in December, the latest retail data from the Office for National Statistics shows.
Year-on-year sales were up 3.1% by value and 2.6% by volume, excluding fuel.
In the last three months of 2018, sales grew 3.5% and 2.9% by value and volume respectively, compared to the same period in 2017.
However, the ONS said December figures were down 0.9% in terms of both value and volume compared to the previous month.
9.04am YYX Captial snaps up Mahabis
YYX Capital have bought upmarket footwear brand Mahabis out of administration.
The acquisition, agreed by administrators KRE Corporate Recovery, means all Mahabis staff will be retained.
The investment company co-headed by Simba Sleep founder James Cox said: “Mahabis has never raised any external capital, so with the right backing, we believe we can further grow Mahabis globally, and at speed.
“Its high margin product category with a large addressable market, both online and offline, and presents exactly the kind of value YYX are looking for.”
07:36am Tourists’ UK spend declines as visitor numbers slip
Over the three months to the end of September 2018 tourists visiting the UK spent 15% less on average, according to the Office of National Statistics.
Overseas residents spent £7.2bn over the quarter overall. Tourist spend in September was mostly heavily impacted, down 19% to £2bn followed by July, down 17% to £2.4bn.
The number of tourists who visited the UK hit 10.8 million during the three months, down 2.7% overall.
The year-on-year decline comes after the highest number of tourists travelling to the UK and tourist spend on record during the same period in 2017.
07:12am The Entertainer posts Christmas sales boost
The specialist retailer recorded a 22.4% uplift in total sales in the five weeks to December 29.
The retailer posted a 13.5% increase in total like-for-likes, driven by a 13% uptick in store like-for-likes and a 17% climb in total online sales.
The Entertainer’s own website, TheToyShop.com, also posted a 51.5% surge in sales after being successfully re-platformed earlier last year.
