Tourist spending in the UK reached £643m last month with a £2.4bn bonanza expected for the summer overall as tourists flock to fashion and luxury stores across the country, according to payments firm Worldpay.
The owners of shopping tax-refund firm Global Blue have held talks with investment banks over the past two days to choose advisers for a possible share sale next year, sources familiar with the matter told Reuters.
High-end handbag brand Kate Spade New York has taken a deep dive into UK travel retail with an opening at Britain’s (and one of the world’s) largest airports, Heathrow. The brand has opened a Terminal 5 pop-up.
As tourist numbers to France dropped across major markets -- Europe (-3.8%), China (-8.7%), Japan (39.7%) and the Middle East (-7.4%) in 2016 -- the European nation saw an overall visitor decline of 2.2%.
London Gatwick Airport’s annual results on Friday underlined just how important retail is to the travel industry and how important travelling shoppers are to retail as revenue from multi and monobrand stores rose.