Despite the tough environment, Bristol’s biggest shopping centre has continued to see an increase in sales and customers.
Cabot Circus opened in the autumn of 2008, just as the recession was getting under way in earnest, but has still managed to help propel Bristol into the top table of the UK’s retail market.
Land Securities, the property firm which owns the £500 million shopping centre, published its annual results, and it came as no surprise that the figures made for some sober reading.
The firm’s property portfolio is now valued at £10.3 billion, a two per cent increase on last year, but its profit before tax was down by more than 50 per cent to £515 million.
Revenue profit, a measure of the group’s cash generation ability, rose nine per cent to £299.4 million.
Chief executive Robert Noel, who recently took over at the firm, has admitted that the property market is still struggling to recover.
He said: “The world has changed as the eurozone contagion started to spread last summer and it hasn’t really started to recover from that point.”
Despite the downbeat view Mr Noel still believes the property firm is still set “absolutely perfectly” to deal with the tougher new environment of the property market.
He said: “There is an increasing realisation that we are not in a growth economy and that it is a fairly boring time
“But we have got our loan-to-value right down, we have got great interest in the buildings we have in development, and our balance sheet is bullet-proof. The only way we can grow right now is by taking on a bit more risk.”
However, locally the outlook appears to be a lot more healthy.
Kevin Duffy, centre director of Cabot Circus, said: “Cabot Circus has continued to perform well in 2012 and we remain positive about the future.
“Our tenants have reported an increase in sales this year; a notable achievement against a backdrop of continued economic uncertainty.”
He added “The number of people using our car park has also risen.
“As we move into the summer season, we expect to see footfall increase in Quakers Friars in particular as a result of our events programme, which will see a giant outdoor screen in the area for Wimbledon and the Olympics, a free food festival and weekly fresh produce market.
“In line with the national picture, we are seeing demand from potential tenants looking for quality retail space in the South West and there is active interest in all of our vacant units.”
As one of the UK’s largest retail landlords Land Securities has had to work hard to deal with what can only be described as a challenging market.
He said: “The retail sector is undergoing one of the most dramatic structural reforms in a generation and it is changing the way people shop.
“Shoppers are becoming more focused on malls which offer restaurants, cinemas and entertainment.
“The market has stopped growing so you need to work harder just to maintain the same momentum as before.”
Fantasicakes Offers Wholesale Bakery Goods and Pastries to Businesses across America - YAHOO!
Fantasicakes offers its gourmet pastries and bakery goods at wholesale prices for nationwide buyers across America.
(PRWEB) May 23, 2012
Fantasicakes has been offering its full product line to its local wholesale customers in Los Angeles area for years. These include country clubs, high end catering companies and restaurants, retailers, cafes, food markets, banquet hall facilities, corporate cafeterias, and coffee shops. Fantasicakes is now offering its wholesale bakery goods to nationwide buyers and wholesale customers.Our gourmet Coffee Cakes, Bundt cakes, and Tarts are currently available for nationwide delivery. There is a variety of great flavors to choose from. Our coffee cakes come in seven flavors: Cinnamon, Cinnamon Walnut, Pecan Cinnamon, Apple Cinnamon, Chocolate Chip, Marble, and Chocolate Mocha. We offer our Bundt Cakes in eight different varieties: Triple Chocolate, Red Velvet, Rum, Chocolate Rum, Lemon, Orange, Blueberry, and Walnut Raisin. Our Tarts come in five flavors: Apple, Apricot, Blueberry, Cherry, and Raspberry. All our products are available for mail order online at Fantasicakes.com. Our cakes and tarts are made fresh everyday with only the finest gourmet ingredients available in the market. The result is the most flavorful Bundt cakes, coffee cakes, and tarts you will ever have the pleasure of tasting. Visit fantasicakes.com today to view all of our wholesale pastries and bakery goods.
"Our products are very well suited for bulk purchase by culinary distributors, gourmet food online stores, online marketplaces, wholesale clubs, and membership clubs." Van Keshish, owner of Fantasicakes, said. "We can drop ship our cakes and tarts for our wholesale customers, or we can do private label and ship them to their retail customers in individual packages, therefore eliminating the need for storing, wrapping, packing, and shipping hundreds or even thousands of items. Based on the order volume we offer special discounted prices for our wholesale customers."
About Fantasicakes:
Founded by Van Keshish, Fantasicakes began as a pastry shop in the Los Angeles area, supplying pastries and bakery shop goods to corporate and celebrity events, as well as local restaurants. Fantasicakes pastries are individually and carefully handcrafted using the finest gourmet ingredients. The fascinating designs and exquisite flavors of Fantasicakes creations enhance the quality and beauty of the events they are served at, leaving a lasting impression. "When I began Fantasicakes, we started out by catering corporate and celebrity events, as well as supplying local restaurants with our distinguished selection of pastries," Van Keshish, owner of FantasiCakes, said. As the bakery business grew, Keshish looked for new ways to expand. Finding the offerings of other online pastry shops lacking, Keshish brought Fantasicakes online for everyone to enjoy their mail order cakes and tarts anywhere in the United States. Fantasicakes is now offering its wholesale bakery goods to nationwide buyers and wholesale customers. Visit our website and simply fill out the wholesale request form for more information regarding wholesale prices and free product samples shipped to your store!
For more information, visit http://www.fantasicakes.com
Or click here to view our wholesale product request form
Van Keshish
Fantasicakes, Inc.
818-361-2171
Email Information
Burberry ups capex to expand retail space - Life Style Extra
Adjusted profit before tax (which excludes restructuring costs and other items) increased by 26% from 298m to 376m, slightly ahead of consensus forecasts of 374.7m. Meanwhile, the retail/wholesale operating margin improved by 80 basis points to 16.4%.
Revenue figures for the second half were already disclosed in the pre-close trading update last month and so won't come as much surprise to the market. Sales totalled 1,857m, up 24% from 1,501m the year before. Underlying growth, calculated at constant exchange rates, was 23%.
Despite the strong growth reported, the stock was under heavy selling on Wednesday. Analysts at Investec said that due to the in-line figures, "the lack of upgrades may see bears take issue today". By 09:44, shares were down 3.61% at 1,336p.
Within retail, all regions and product divisions showed double-digit growth during the year with total retail revenues rising 32% to 1,270.3m. However, as previously indicated, like-for-like growth (comparable store sales) slowed from 16% in the first half to 12% in the second, resulting in a 14% increase year-on-year.
Burberry opened 23 mainline stores - including the first flagship stores in Hong Kong, Paris and Taipei - and 25 concessions during the 2011/12 year, closing 10 and 16, respectively.
The full-year dividend was raised from 20p to 25p, slightly ahead of the 24.58p consensus estimate.
"While we remain vigilant about the external environment, we will continue to invest in front-end opportunities within our brand, digital and retail strategies, to drive sustained, profitable growth and enduring customer engagement over the long term," said Chief Executive Officer Angela Ahrendts.
REINVESTING FOR THE FUTURE
A net 15 mainline stores are planned for the current year and capital expenditure should increase from 153m to 180-200m as retail space is expected to grow by 12-14%.
Analysts at brokerage Nomura said this morning that it would maintain its current-year forecasts following the statement and reiterated its buy recommendation for the stock. "Strong returns and pricing power give [Burberry the] confidence to accelerate investment," they said.
The firm said that the phasing of revenue and investment is expected to lead to lower operating margins in retail and wholesale in the first half of this year (ending September 2012). For the full year 2012/13 though, it expects "modest improvement" in margin.
Meanwhile, licensing revenues are expected to be flat this year, as growth in global product licenses is offset by the planned termination and downsizing of Japanese non-apparel licences.
BC
İstanbul’s second shopping festival brings free events and discounts - Today's Zaman
The second İstanbul Shopping Festival will run from June 9-29 and is predicted to bring in around TL 7 billion. The city is on its way to becoming one of the world’s leading shopping centers.
The shopping festival will offer up to 50 percent off all goods, from clothing to electronics. In addition to discounts, some brands are offering free store credit after customers spend a certain amount of money.
During the festival, shopping malls and smaller stores will host events and extend their opening hours for the 21 days. Streets will be colorfully adorned with festive lighting and decorations. Street parties, galas, surprise events, music activities featuring concerts from renowned musicians, races, fashion shows and special overseas presentations are all scheduled to take place throughout the festival. İstanbul will become a center of attraction for serious shoppers worldwide. The festival includes gifts, promotions and raffles. All this season’s stock will be on sale.
More than 100 modern shopping centers are taking part in the festival, including ones in Taksim, Nişantaşı, Şişli, Bakırköy and Fatih. For visitors who prefer to shop while strolling through the city, the stores of famous shopping streets, such as Bahariye and Bağdat Caddesi, will be filled with heavily discounted goods. Customers will be able to relax at nearby cafes and restaurants before heading out for more shopping. Last year the festival attracted approximately 5 million visitors and this year organizers expect millions more.
The festival kicks off with a large parade on İstiklal Caddesi in Taksim beginning on Saturday, June 9, from 1-2 p.m. and continuing later on Bağdat Caddesi from 5-7 p.m. The Kent Orchestra, Tiny People and Zalinde will perform, along with clowns, jugglers, stilt walkers and skateboarders.
The festival website, http://www.istshopfest.com/, lists specific retailers and their discounts and gives links for following the daily events and discounts. Shoppers can check in on Foursquare using ISTSHOPFEST, and a free mobile application, ISF mobile, is available for iPhone, iPad and android phones. For foreign visitors, the website also features historical places, museums and a guide for traveling with children.
The festival is a must-visit for savvy bargain hunters and shopaholics alike. Happy shopping!
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