A look into the shops in London’s Canary Wharf shopping centre makes it clear: there’s a lot going on. If you haven’t got a sign telling the prices are reduced by 70%, shake it as a shop owner. You don’t get anybody in. Even on the new collections, I overheard people getting 20% discount in a personal negotiation. Where are they making any profit? Also consider the rent and staff needs to be paid. One comfortable fact is that there are plenty shoppers around. Just get them in and make them spend, that may be the ultimate challenge.
- London’s Canary Wharf scoops corporate art prize (reuters.com)
- Britain in the blizzard – send us your white-out pictures (mirror.co.uk)
- J.P.Morgan Buys Old Lehman Site in Canary Wharf (dealbook.nytimes.com)
- JP Morgan buys £495m Canary Wharf site to use as European headquarters (telegraph.co.uk)