- The number of shoppers in the UK rose by 1.5 per cent, on a week-on-week basis, in the week to 15 January, due to high street shoppers.
- This weekly rise indicated while Plan B restrictions were still in effect, workers were slowly exhibiting a return to office type of behaviour.
The number of shoppers in the UK rose by 1.5 per cent, in the week to 15 January, compared to the week before, according to data and shopping analytics firm Springboard.
This rise in numbers was due to UK shoppers returning to high streets. As per the report, high street footfall had risen by 7.2 per cent over a week-on-week basis, whereas footfall in retail parks and shopping centres was declined by 4.9 per cent and 4 per cent, respectively.
However, the data found that overall footfall was down by 21.3 per cent in the week to 15 January 2022, compared to the same period pre-pandemic in 2019.
Springboard stated that while Plan B restrictions (such as working from home in cases where it was still possible) remain in effect, this weekly rise showed the initial signs of workers slowly returning to working from offices once more.
Shopping numbers had been impacted during the December 2021 festive period due to the UK government’s introduction of Plan B restrictions in order to help contain the Omicron variant’s spread, thus affecting a usually strong trading festive period.
The group had earlier found that UK’s retail footfall in December 2021 was down by 18.6 per cent from its 2019 levels.
Let us look at 2 retail stocks and explore their investment prospects amid this development:
- Kingfisher PLC (LON: KGF)
Kingfisher, an FTSE 100 index listed group, is a home improvement retail company.
Its Q3 2021/22 total group sales stood at £3,246 million, down by 2.4 per cent on a one-year like-for-like (LFL) constant currency basis and up by 15 per cent on a 2-year LFL constant currency basis.
The group estimates its H2 2022 LFL sales to be on the higher end of its 1-year LFL guidance of negative 7 to negative 3 per cent.
And its full year adjusted profit before tax to be on the top range of its earlier guidance of £910 to £950 million)
Image source: Refinitiv
The group’s shares closed at 337.70, higher by 2.58 per cent on 17 January, while the FTSE 100 index was at 7,611.23, up by 0.91 per cent.
The group’s market cap was at £6,823.67 million, and it has given shareholders a return of 25.35 per cent as of date.
- Joules Group PLC (LON: JOUL)
Joules Group is a UK-based lifestyle retail company involved in clothing, footwear, and other areas. The group is listed on the FTSE AIM All-Share index.
According to its latest pre-close trading update for the 26-week period ending on 28 November 2021, It’s H1 2022 group revenue rose by 35 per cent to £128 million from the year before. And it was higher by 15 per cent when compared to the same period in H1 2020.
The group is set to release its interim results next month on 1 February.
Image source: Refinitiv
The group’s shares closed at GBX 139.50, higher by 7.72 per cent on 17 January 2022, while the FTSE AIM All-Share index was at 1,166.75, up by 0.59 per cent. The group’s market cap was at £144.75 million as of date.