Dr Clive Black

Dr Clive Black

Clive Black is head of research at Shore Capital Markets

  • Tesco Hayes

    Private equity makes a supermarket sweep


    Buses – wait for ages then three come along at once. Such is the case with the interest shown by CD&R, Apollo and Fortress in Morrisons, an equity that has been sidelined in price terms for a sustained period.

  • Tesco delivery

    How supermarkets bounced back


    Who would have thought ahead of this terrible pandemic that as a result of structural adjustments to the grocery trade, UK supermarket impairments would be written back to the tune of a quarter of a billion pounds in the case of Morrisons and Tesco UK alone?

  • West Kirby

    Suburban life is sweet


    In mid-August, the streets of suburban West Kirby in Merseyside were busier than the usually thronged arteries of central London.

  • Online shopping

    Digital must pay its way


    Shopkeepers in Britain have been brutalised by circumstance. The last 18 months have seen the feckless Theresa May government, the Brexit saga, the December 2019 general election and then, to top everything off, Covid-19.

  • Coronavirus supermarket

    The supermarkets’ finest hour


    The new decade started with worrying tensions between Iran and the US, which forced crude oil prices to spike to more than $70 a barrel.

  • Shop sale signs

    We must act now to save retail


    The plight of the shopping centre in the UK is worrying… very worrying. Today, many if not all of our existing shopping centres simply would not be built. There is turmoil in this silo of the real estate market as net asset values, which equity capital markets have not believed ...

  • Regent Street

    Politicians crush confidence


    The stoicism of the British shopper has been reaffirmed since the EU referendum. Putting rabid remainers and leavers to one side – people who frankly deserve each other (Jacob Rees-Mogg and Anna Soubry should help the nation by eloping and going somewhere else) – despite the wearing political chaos, folks ...

  • Oxford Street

    Politicians dash high-street hopes


    These are interesting times for the British consumer. Sainsbury’s chief executive Mike Coupe stated that the British were behaving as if they were in the midst of a recession. Yet consumers are living in a period with economic conditions most chancellors of the exchequer would die for.

  • Empty car park

    Talking shops: Retail revolution looks set to break boring and standardised UK chains


    Retail real estate could be on the precipice of an enormous structural change.

  • Clive Black

    One nil to grocers – but well-run retailers will always thrive


    Talking shops: The second Thursday in January is a tsunami of retail reporting that makes it near impossible to see the wood for the trees.

  • Tesco

    Talk of ‘death’ of the physical store is a little premature


    Most shopkeepers have been grappling with the trials, tribulations, opportunities and glories that the internet has brought to retailing for a couple of decades now.

  • Whole Foods Market

    Amazon is less slayer and more saviour of food retail property


    When Amazon announced its intention to acquire top-end American grocery chain Whole Food Markets (WFM) for just $14bn (£10.7bn) last month, the facial expressions of a lot of real estate magnates with a presence in the retail space would have been interesting to see.

  • High street

    2017 predictions: talk of the death of the high street is overcooked


    Structural change is firmly established in British retailing. We have one of the most advanced ecommerce capabilities for retailing in the world.