​The sun shone on UK retail in the first week of the new month (1-8 March) with footfall rebounding, rising 1.8% week-on-week across the country.

The positive performance was driven by a 4.2% rebound in high street activity and by a more modest 0.1% rise in retail parks, according to MRI Software data. 

However, shopping centres saw a 1.6% decline in footfall, “reflecting cautious consumer behaviour ahead of Mother’s Day [30 March] and Easter [18-20 April], which fall two weeks later this year than in 2024. This suggest shoppers may be planning purchases more intentionally”, the report said. Of course, it could also have been connected to the sunny weather with consumers less willing to shop undervcover and preferring outdoor destinations.

MRI said the rise in high street activity “is encouraging as it may well align with factors such as warmer weather, and schools reopening following the half-term break across the UK which will also signal a return to the office”.

Footfall rose on four out of seven days last week peaking on Sunday and Wednesday (rising by 18% and 8.3%, respectively) in all UK retail destinations. However, the drop in activity came on Friday “which was far more significant in shopping centres”. 

High streets benefitted from the warmer weather on Saturday with a rise in footfall recorded, however retail parks and shopping centres saw a drop in activity on this day compared to the week before.

All town types benefitted from milder weather with footfall rising from the week before, especially in coastal towns and Greater London where double-digit rises were recorded from the week before. 

Market and historic towns also witnessed strong activity, alongside MRI Software’s Central London Back to Office benchmark. 

Apart from the West Midlands, regional footfall in all UK retail destinations remained strong particularly in the East of England and the South West.

Watches of Switzerland Group has introduced a £25 million share buyback programme, sending its shares up 7% in early trading on Monday (10 March).

The luxury watch retailer said it now has excess funds to return to shareholders as its balance sheet remains strong following a refinancing in December that increased liquidity by £50 million.

The move won’t restrict investment in retail expansion with the group about to open a new Rolex flagship showroom on London’s Bond Street on Thursday (14 March).

It said of the share buyback programme: “The group has a clear and disciplined approach to capital allocation – prioritising investment for growth through showroom elevation, new projects and acquisitions, before returning to shareholders any surplus capital above and beyond those requirements, as appropriate”. 
 
It added: “We continue to be active on a number of business development opportunities, both organic and inorganic, and will prioritise these investments, but in addition we now have surplus capital that can be returned to shareholders in line with the framework”.

Buybacks reduce the number of shares in circulation, which gives all remaining shareholders ownership of a greater percentage of the company. This often leads to an increase in a company’s share price, hence the early rise this morning.

So the rumours turned out to be true with recent weeks suggesting that the successor to Luke and Lucie Meier at OTB’s Jil sander would be Simone Bellotti. On Monday, the company announced him as its new creative director with immediate effect.

Bellotti takes the creative helm following his tenure in the same role at Bally, where we’re told “he brought fresh perspective and artistic influence”. 

And he seems to have the right profile for the famously minimalist-with-a-twist label with his previous experience mixing in Italian megabrands and Antwerp cool, as well as Bally.

Raised in Milan, he moved to Antwerp and the company said he “was instantly embraced into a dynamic fold of radical creatives”. 

That’s more than mere hyperbole with his career so far spanning positions at AF Vandervorst, Gianfranco Ferré, Dolce & Gabbana, and Bottega Veneta, as well as a 16-year tenure at Gucci. 

Jil sander also said Bellotti has “developed a keen obsession for detail, interpreting archival references with innovative directions. A passion for research informs Simone’s eye, as he draws on art, photography, and music for inspiration”.

Renzo Rosso, chairman of OTB Group, added: “Simone embarks on this journey with extensive experience and a distinct talent. Over the time spent together we shared the strategic vision and mission for Jil Sander, the values of innovation and sophistication that make it an iconic and unique brand.”

OTB has owned Jil Sander since 2021 and it currently has around 70 boutiques, as well as a webstore and a presence in selected multibrand retailers.