Economy
Economy explores the wider economic forces influencing the UK retail industry. This section covers inflation, consumer spending, interest rates, labour market conditions, and policy developments affecting retail performance and profitability. Retail Sectorโs Economy coverage provides expert analysis, data-driven insight, and commentary to help retail leaders, financial planners, and operational managers understand how macroeconomic trends are shaping demand, costs, and investment decisions across the sector.
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Oct- 2020 -13 October
UK unemployment rises to 4.5%
The UK unemployment rate increased to 4.5% during the three months from July to August, the highest level in over three years.ย According to the latest figures from the office of National Statistics (ONS), the total number of unemployed increased by 138,000 to 1.58 million people. It comes as over…
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13 October
UK retail sales rise by 6.1% in September
Retail sales in the UK increased on a like-for-like basis by 6.1% in September from the same period last year, according to BRC-KPMGโs retail sales monitor. Non-food retail sales increased by 5.2% on a like-for-like basis by 5.2% and 3.2% on a total basis. On a total basis, sales rose…
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7 October
Businesses must check furlough inaccuracies before HMRC deadline
Businesses using the furlough scheme have been urged to โthoroughly checkโ their claims for inaccuracies before HMRCโs cut-off date to avoid the risk of fines or prosecution. Accountancy firm Kilsby Williams issued the warning after HMRC sent letters to a growing number of businesses to inform them of potential errors…
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6 October
High Streets Task Force appoints 150 experts
The High Streets Task Force has appointed 150 professionals to work with local authorities in England over the next four years, supporting their evolution and response to Covid-19. Towns in England will receive advice on progressing local plans, bidding for investment and helping the high street post-pandemic. The โexperts registerโ…
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Sep- 2020 -30 September
N Brown reveals H1 recovery on back of homeware demand
The N Brown group has posted a โrecoveryโ in H1 sales following an increased demand for homeware. N Brown said it has experienced a product revenue trajectory which has โcontinued to improveโ throughout the second quarter, stabilising at -20.5% for H1. Losses in product revenue were down by 58.3% by…
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29 September
ScS posts full year loss despite post-lockdown boost
ScS has revealed it made a statutory loss of ยฃ3.1m before tax in the preliminary results for the year ending 25 July 2020. The home furnishings specialist also reported a 19.5% decrease in revenue to ยฃ255.5m. However, it said it remained โconfidentโ and that the company had achieved a โresilient…
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28 September
ยฃ3bn tariff ahead for UK retailers and consumers, warns BRC
Supermarkets and their customers could face ยฃ3bn a year of tariffs on food and drink if a free trade deal is not agreed between the UK and the EU before 1st January 2020, The BRC has warned In its report the association said an average increase in tariffs of 20%…
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24 September
DFS posts full year loss in preliminary results
Sofa retailer DFS has reported losses before tax of ยฃ56.8m, in the groupโs preliminary results for FY20. For the FY period ending 28 June 2020 the retailer also revealed that revenues decreased by 30.2% to ยฃ724.5m. DFS said that the losses were driven by โreduced margin from lower revenue levelsโ,…
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16 September
EOTHO pushes UK inflation down to five-year low
The Consumer Prices Index (CPI) 12-month rate fell to 0.2% in August 2020, down from 1% in July, according to new data from the ONS. The ONS said falling prices in restaurants and cafes, arising from the Eat Out to Help Out Scheme, resulted in the largest downward contribution (0.44…
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14 September
700,000 jobs at risk as end of furlough scheme draws near
Over 700,000 employees are at risk of being made redundant in the second half of 2020, research from Institute for Employment Studies (IES) has revealed. IES estimates that some 650 thousand redundancies are expected in the second half of 2020, with 445 thousand redundancies in the three months between July…
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