News
Greggs has appetite for 120 openings in 2026 despite dip in profit
3rd March 2026Greggs is targeting around 120 net new store openings in 2026, despite recording a decline in profits in 2025. The grab-and-go operator said it sees a “clear opportunity” for over 3,000 UK stores in the long-term, and has identified a “strong pipeline of attractive opportunities” for new stores in 2026. Greggs will also trial its smaller ‘bitesize Greggs’ format to meet greater demand in areas with limited space. As of the end of 2025, Greggs’ estate grew to 2,739 locations, following 121 net openings over the course of the year. In the year ending 27 December 2025, Greggs recorded a year-on-year increase in total sales of 6.8% to £2.15bn. Over the same period, the operator’s underlying pre-tax profit fell by 9.4% to £171.9m, while its statutory pre-tax profit also declined, falling by 17.9% to £167.4m. However Greggs said its capital expenditure peaked in 2025 at £287.5m, and will fall to circa £200m in 2026, before reducing to between £150m and £170m from 2027 onwards. Roisin Currie, chief executive of Greggs, said: “Greggs delivered a resilient performance in 2025, growing market share, alongside continued strategic progress. Looking into 2026, easing inflationary pressures should provide some support to consumer spending and demand […]
Deals
Inditex takes Metrocentre footprint to over 65,000 sq ft with Bershka signing
3rd March 2026Global fashion group Inditex is set to increase its footprint at Gateshead’s Metrocentre to over 65,000 sq ft after signing for a new Bershka store. Bershka will open a 16,000 sq ft unit in Red Mall, joining other Inditex brands Stradivarius and Zara. The new store will feature a full product range that spans womenswear, menswear, teen clothing, and accessories. Bershka will join a number of brands within Metrocentre’s fashion lineup, including Urban Outfitters, River Island, Mango, H&M, Flannel, and the upcoming Hollister store. Category sales for fashion were up by 7.4% year-on-year in January at the scheme, with womenswear in particular achieving growth of 9.8% vs last year. Ben Cox, director at Sovereign Centros from CBRE, asset manager of Metrocentre, said: “The addition of Bershka to Metrocentre underlines the strength of our relationship with Inditex, as well as the success of our fashion proposition, category performance, and the momentum across the scheme. Securing another Inditex brand in such quick succession further highlights Metrocentre as a fashion-forward, best-in-class retail destination, and it’s clear the confidence global brands have in our long-term vision. Red Mall has been shaped as that accessible premium fashion hub, and we are driving consistent sales growth there, […]
Requirements
Independent gym operator seeking more sites
19th February 2026Family-run gym operator Simply Gym has released its latest list of requirements as it looks to open more sites within major towns and cities across the South West and the Midlands. Simply Gym, which currently operates eight locations, is seeking units ranging between 15,000 sq ft and 45,000 sq ft, with a minimum floor-to-ceiling height of 2.6 metres. Suitable units will be set across ground and/or first floors, with splits considered, and will also be supplemented by strong parking availability. Leasehold or freehold properties will be considered. Target locations include: FHP has been appointed to find suitable locations.
Insights
“It’s the landlords that can’t keep up with our pace”: Rodd & Gunn’s Mike Beagley on the brand’s UK expansion, its “honest” approach, and his ambition to open a pub
27th February 2026New Zealand-based menswear brand Rodd & Gunn’s expansion into the UK physical retail market has been steadily gaining momentum. In 2025, the brand opened four new stores and is now targeting double-digit openings across the UK in 2026 and is in discussions to secure its first shopping centre locations. These targets are backed by strong growth in sales, which were up by 19% on a like-for-like basis in stores and 26% online in 2025. “Our covenant is strong, we’ve got a global business and it’s been growing consistently over a long period of time”, says Mike Beagley, CEO of Rodd & Gunn. “Retail is a tough business, but it’s also very rewarding if you put the effort in” he tells Completely Retail News. He’s speaking from Auckland, where it’s a late summer evening. “It’s the reason I’m up working at this time of night and will be on later”, he says. On this side of the planet, the retailer is now looking to expand its current estate. Rodd & Gunn currently operates 10 standalone stores in the UK – located in London, Exeter, Bath, Winchester, Cheltenham, Chester, York, Ashford, Glasgow, and Edinburgh – with four more set to open by […]
News
Sole advisers appointed at Hampshire shopping centre
2nd March 2026Sovereign Network Group (SNG) has appointed FMX Urban Property Advisers as sole advisers at Princes Mead Shopping Centre in Farnborough, Hampshire. The 149,000 sq ft shopping centre is anchored by tenants including Asda, Smyths Toys, Boots, Decathlon, and JD Sports. NewRiver is the scheme’s asset manager. SNG acquired the shopping centre in 2023 and is now looking to focus on a strategy for Princes Mead that will strengthen its position as the dominant retail offer in Farnborough. Nick Symons, partner at FMX, said: “It is great to see that the scheme has retained its central role in the town centre, despite all the changes in shopping habits and new competition in this part of Hampshire. Our job now is to ensure it is fit for purpose for another 30 years.” FMX said it will look to shape a tenant mix that works for both customers of today and the future. Princes Mead Shopping Centre joins a number of schemes in FMX’s portfolio, including The Spires in High Barnet, Hale Leys in Aylesbury, and Royal Priors in Royal Leamington Spa.
