Store openings on the up

Artist's impression of the outside of the new cinema and resturant development on The Moor
Artist's impression of the outside of the new cinema and resturant development on The Moor
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The number of new stores opening in Sheffield city centre is on the up, but the number of stores that are closing still exceeds the number opening.

Research carried out on behalf of accountants and business advisers PwC shows 28 stores opened up in Sheffield city centre in 2013, compared with 23 in 2012. Meanwhile, 32 stores closed, compared with 36 in 2012.

Across Yorkshire, there were 444 store closures and 436 openings.

Andy Ward, senior partner at PwC in Sheffield said: “Yorkshire & Humberside fared well last year when looking at the rest of the country and it is positive that the number of store openings in Sheffield increased from the previous year.

“Last year there was a continuation of the high street metamorphosis driven by consumers’ changing behaviour as they adopt the newer digital channels and technologies available to them.

“Casualties have been in those areas where we have seen a rapid shift online - travel, fashion, digital photography and DVDs – and banks. Those trends will continue.”

Matthew Hopkinson, director of retail location data specialist The Local Data Company, which carried out the analysis, said: “Last year was a turning point for retail in town centres across Great Britain.

“The data reflects the ongoing structural changes taking place in our town centres and the continuing consolidation of ‘anchor stores’ into fewer but larger shops, which are either in megamalls or out-of- town retail parks. The oversupply of shops nationally has resulted in reduced rents and created opportunities for what many perceive as less desirable shops – betting shops, cheque cashing and tattoo parlours – to fill the vacuum left by the retreating ‘anchor chains.”