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British Land signs key fashion names to Broadgate development

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6 hours ago

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February 27, 2025

Retail property giant British Land may have been focusing more heavily on retail parks in recent periods but it still has major flagship shopping centre sites in its portfolio and has just announced a raft of fashion signings for its prestigious Broadgate development in central London.

Broadgate – British Land

It said this week that it’s seen “a strong start to the year at Broadgate, further strengthening the campus’s retail offering”.

Major fashion brands Ralph Lauren, Mango, Luca Faloni, Hobbs and Whistles are taking space at Broadgate Central, which spans the ground and lower ground floors of 1 Broadgate and 100 Liverpool Street, linking Liverpool Street station to Finsbury Avenue Square 

1 Broadgate will complete later this year with the building’s office space 96% pre-let. The wider campus continues to see strong office leasing activity and since the start of the calendar year, British Land has agreed terms or placed under offer 200,000 sq ft to businesses across a range of sectors.

What that means for retailers in that, as well as sizeable footfall passing through Liverpool Street station, there’s a massive pool of potential customers who’ll be working in the immediate vicinity on multiple days each week.

Overall, the company said Broadgate consistently attracts high footfall of over 29 million visitors a year, with retailers most recently seeing a 4.6% increase in sales year-on-year. 

CEO Simon Carter said: “This is a strong start to the year for Broadgate. The demand we’ve seen for workspace across the campus is due to its excellent connectivity and unrivalled range of amenities, with businesses seeking high quality space within a well located, thriving environment. The fantastic additions to our retail offer at Broadgate Central will only enhance the campus’s appeal.”

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Intersport Spain seeks voluntary administration to ensure business continuity

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5 minutes ago

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February 27, 2025

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Translated by

Nazia BIBI KEENOO

Published



February 27, 2025

Intersport Spain has filed for voluntary administration in a Barcelona commercial court, aiming to sustain operations and secure its future, the company announced in a statement. The sporting goods retailer previously raised €8 million in a capital increase last October.

Intersport’s store at Oasiz Madrid. – Intersport

“We are not in a liquidation scenario. We remain fully operational, continue purchasing inventory, and supplying our partners, having entered this process from a favorable position,” said Rafael Barbé, general manager of Intersport Spain.

According to the statement, the company has faced financial difficulties for more than seven years due to various challenges that were only partially addressed. This has led to an unsustainable level of financial debt, making a deep restructuring essential to ensure the business’s long-term viability.

Intersport Spain’s net financial debt is currently under €14 million, and the company remains up to date with payments to public administrations and employee salaries.

“We are working on a viability plan that will enable realistic negotiations with creditors to restructure our debt,” Barbé added. Intersport Spain also emphasized that the mechanism it has adopted, in accordance with the September 2022 insolvency law, allows financially distressed companies to renegotiate their debts and restructure their operations with greater safeguards, ensuring long-term viability and avoiding liquidation.

Operating a network of 130 franchise stores and employing more than 130 people in Spain, Intersport Spain generated €67.5 million in revenue in 2023, a 6% decline from the previous year.

In recent months, the company has undergone several leadership changes. In March 2024, it announced the departure of its general manager after just one year in the role, followed by the appointment of a new business director in June. On a global scale, Intersport International confirmed the departure of its CEO, Steve Evers, in December.

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Beiersdorf expects organic growth to slow in 2025

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37 minutes ago

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February 27, 2025

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Reuters

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February 27, 2025

Nivea maker Beiersdorf on Thursday said it expected organic growth to slow in the current year, citing weaker demand in the global skin care market.

Reuters

Beauty firms are reeling from a growth slowdown from the second half of 2024 and into the new year, exacerbated by soft demand in key market China and inventory reductions at travel retailers and in the U.S.

Competitors, such as French L’Oreal and U.S.-based rival Coty posted weaker-than-expected quarterly sales in their latest reports.

The German company expects organic sales to grow between 4% and 6% in 2025, down from a 6.5% rise to €9.9 billion ($10.37 billion) it reported for the previous year.
The company had forecast organic sales growth of between 6% to 8% in 2024.

Beiersdorf core skincare brands, such as Nivea and Eucerin remained resilient but weakness in Chinese demand for luxury products and shifting consumer preferences in the region have weighed on the company’s luxury brand revenue.

While sales at its Nivea brand and skincare business increased 9.0% and 10.6% respectively in the past year, its premium brand La Prairie recorded a 6.2% drop in sales.

The company also said it extended the contract of its CEO Vincent Warnery until the end of 2030.

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Bath & Body Works forecasts tepid annual results on tariffs, spending concerns

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1 hour ago

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February 27, 2025

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Reuters

Published



February 27, 2025

Bath & Body Works forecast annual sales and profit below expectations on Thursday, bracing for the impact of U.S. tariffs on Chinese imports as well as weak consumer spending on its fragrances and scented candles.

Bath & Body Works

Shares of the Ohio-based company fell 4% in premarket trading.
High interest rates, economic uncertainty and years of elevated inflation have prompted Americans to tighten their purse strings. Retail sales in the U.S. dropped the most in nearly two years in January.

Customers are also switching to cheaper, private-label alternatives.

Bath & Body Works forecast fiscal 2025 net sales growth of to 1% to 3%, largely below analysts’ estimates for a 2.8% rise, according to data compiled by LSEG.
It expects full-year 2025 earnings per share of $3.25 to $3.60, compared with expectations of $3.62.

The forecasts reflect the impact of recently enacted U.S. tariffs on goods imported from China but excludes potential impacts from other possible tariff changes, the company said.
Still, the company’s holiday-quarter results beat estimates thanks to marketing and promotion efforts targeted at attracting younger consumers.

On an adjusted basis, Bath & Body Works posted a profit of $2.09 per share for the quarter ended February 3, compared with estimates of $2.05 per share.

Its third-quarter sales fell 4.3% to $2.79 billion from a year ago, narrowly beating estimates of $2.78 billion.

Separately, the company announced a share repurchase program of up to $500 million.
 

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