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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Jan- 2020 -29 January
Retail sales fall flat for third consecutive month, CBI finds
Retail sales volumes were flat for the third consecutive month in the year to January with no growth expected next month, according to the latest monthly CBI Distributive Trends Survey. The figures indicate retail sales volumes posted no growth in the year to January (0%, unchanged from December) and that…
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Dec- 2019 -3 December
Outstanding business rates challenges increase by 35%
The number of businesses waiting for challenges over soaring business rates to be resolved has jumped by more than a third in just three months, according to new figures issued by HM Revenue & Customs (HMRC). The figures revealed the number of outstanding challenges has increased by 35% fuelling concerns…
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Nov- 2019 -29 November
Consumer confidence ‘flatlines’ in November, claims GfK
GfK’s Consumer Confidence Index has revealed a ‘flatline’ in consumer confidence. Consumer confidence in November was ranked at -14, the same ranking that was reported the month prior. Joe Staton, client strategy director at GfK, said: “In the face of Brexit and election uncertainty, consumers are clearly in a ‘wait-and-see’…
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22 November
The Hut Group secures £510m debt facility to boost beauty investment
The Hut Group has secured a £510m of debt issuance with a seven-year maturity to help boost its digital and beauty offerings. The process has been underwritten by Barclays, HSBC, Citi and Santander. The transaction is set to be a “step change” within the beauty and wellness capital structure. The…
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18 November
Conservatives pledge business rates review
The Conservative Party has pledged a business rates review which aims to “reduce the burden” on UK businesses, as part of its election campaign. It said business rates are one of the “top concerns” of British businesses, and added that a Conservative majority Government will launch a “fundamental review” at…
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15 November
Boris Johnson pledges to invest in ‘left behind’ communities if Tories win
The Conservative party has proposed to reduce business rates for smaller businesses, in order to support “left-behind” towns, if they win the general election. The plans would offer support to businesses and the community, to keep the high streets open for business, save pubs and post offices, reconnect towns and…
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14 November
Burberry profits rise despite Hong Kong protests ‘dampening’ sales
Burberry has posted pre-tax profit of £193m for the half-year to 28 September, despite recent protests in Hong Kong dampening its sales. Months of protests in Hong Kong have affected the British retailer, but it still managed to increase adjusted operating profits by 14% in the first half of the…
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13 November
British Land profits slip in half-year results
British Land has reported a decrease in pre-tax profits for its first half, as its underlying pre-tax profits dropped from £169m to £158m in the six months to the end of September. British Land’s portfolio fell by 4.3%, as revenue also dropped by 34% to £328m. The value of the…
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4 November
Mothercare to appoint administrators, placing 2,500 jobs at risk
Mothercare has announced that it will appoint administrators, less than 18 months since it launched a CVA. The children’s company, which operates 79 high street stores across the UK, said it will file a notice of intent today, placing 2,500 jobs at risk. It is believed that only 500 full…
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Oct- 2019 -31 October
Consumer confidence drops further in October
Gfk’s long-running Consumer Confidence Index decreased two points to -14 in October. The measure for the general economic situation of the country during the last 12 months decreased by one point during month to -33, five points lower than in October 2018. Expectations for the general economic situation over the…
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