Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Oct- 2021 -22 October
September retail sales fall 0.2%, ONS reveals
September retail sales volumes fell by 0.2% and by 2.6% when compared with the same period in 2020, according to the latest Office of National Statistics (ONS) results. Non-food stores reported a fall of 1.4% in sales volumes in September 2021, which was mainly due to a 9.3% decrease in…
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20 October
UK Inflation falls to 3.1% despite rising fuel costs
UK inflation fell slightly in September to 3.1% despite rising fuel costs, according to the latest figures from the Office of National Statistics (ONS). The figure is down from 3.2% in August but still remains much higher than the Bank of England’s target of 2%. The largest upward contribution to…
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19 October
UK footfall return remains steady
Footfall across UK retail destinations declined marginally by -0.7% last week from the week before, according to Springboard. UK footfall last week was +28.1% higher than in the same week in 2020, which was a strong improvement from +24.5% in the week before. The fact that footfall did not change…
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18 October
The Hut Group owner surrenders golden share to reassure investors
Matthew Moulding, the boss and founder of the online beauty, nutrition and technology services group The Hut Group, is set to give up his golden share in the company in a bid to reassure investors. It was reported that The Hut Group, which floated just over a year ago, will…
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15 October
ProCook considers London IPO
ProCook has announced it is considering an initial public offering on the main market of the London Stock Exchange. Should ProCook proceed with the IPO, it said the admission would be to the premium listing segment of the Official List of the FCA and to trading on the main market…
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14 October
Mid-market retailers set to continue investments, RSM say
The shift in focus to online in the mid-market retail sector is set to continue, with the majority of retailers looking to enhance their online offering, with 83% and 78% looking to increase the volume and range respectively, according to new research from RSM. The accountancy firm said the research…
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11 October
Christmas footfall predicted to remain 17% below 2019 levels
Footfall across UK retail destinations will average -17% lower than in 2019 over the six week Christmas trading period from November 21 to January 4, continuing the current trajectory seen in September with footfall down -17.4%, according to a forecast by Springboard. It projects Black Friday will be more popular…
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Sep- 2021 -29 September
Lego operating profit soars 104%
Lego has revealed an operating profit for the first half of the year of DKK 8bn (£929m), an increase of 104% compared to H1 2020. Revenue for the period grew 46% to DKK 23bn (£2.7bn) compared with the same period in 2020, while consumer sales grew 36%, outpacing the toy…
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28 September
Asos to create 180 jobs with new £14m Tech Hub
Asos has announced it is to invest £14m in a new Tech Hub in Belfast and create 184 new jobs over the next three years. The new Belfast hub will be operational in early 2022, with 52 dedicated roles in the first year, growing to 184 by 2024, with recruitment…
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24 September
Consumer confidence falls amid ongoing supply chain issues
UK consumer confidence has fallen back five points in September, largely attributed to both shop supply shortages and rising prices, according to new research by GfK. GfK’s Consumer Confidence Index decreased by five points to 13 in September, with all measures down in comparison to August’s announcement. The data showed…
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