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- 2019 -10 October
N Brown returns to profit amid strong H1 results
Fashion retailer N Brown has returned to profit after reporting an 151.9% increase in statutory operating profit to £14.7m, up from a negative of £28m compared with the same period last year. N Brown, which owns Simply Be, Jacamo, JD Williams and Ambrose Wilson, said it “spent a substantial amount…
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Sep- 2019 -27 September
UK consumer confidence improves in September
GfK’s long-running Consumer Confidence Index increased two points to –12 in September. The index measuring changes in personal finances during the last 12 months has increased by three points this month to +2, one point higher than September 2018. The measure for the general economic situation of the country during…
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19 September
Retail sales see ‘modest’ growth in August
Retail sales grew by a “modest” 2.9% in August compared with the same month last year, according to the Office for National Statistics (ONS). The year-on-year growth rate shows that the quantity bought in August 2019 increased by 2.7%, which the ONS said is a “slowdown” compared with the stronger…
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17 September
Late August bank holiday heatwave lifts grocery sales
The late August bank holiday heatwave lifted total supermarket sales to +2.2% in the last four weeks, according to Nielsen’s Total Till figures for September 2019. The analytics company said the UK faced a wet start to the summer, but unusually hot weather over the long Bank Holiday weekend led…
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9 September
H&M battles with landlords over rents
Fashion retailer H&M is battling with landlords over rent reductions, which could potentially see property owners bear the cost of the rising number of returned clothes. According to a report from The Times, the retailer is pushing for “total occupational deals” where it discusses with landlords a sum linked to…
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9 September
Footfall drops off in late summer
Footfall continued its decline over the late summer, recording a 1.3% decline for the four week period to 24 August. According to the latest BRC-Springboard Footfall and Vacancies Monitor, the latest decline is compared with 1.6% drop for the same period last year. High street footfall declined by 1.9%, following…
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4 September
M&S to be relegated from FTSE 100
Marks and Spencer is set to be removed from the FTSE 100 for the first time since the index launched 35 years ago, after its market value fell below the threshold for inclusion, with an announcement expected to be made later today (4 September). The retailer’s exclusion was confirmed by…
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Aug- 2019 -30 August
UK consumer confidence decreases three points in August
GfK’s long-running Consumer Confidence Index decreased by three points to -14 in August. The measure for the general economic situation of the country during the last 12 months decreased by two points in August month to -34, eight points lower compared with the same period last year, and expectations for…
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21 August
CEO pay at the UK’s biggest companies falls by 13%
CEOs of FTSE 100 companies have seen their salary drop by 13% year-on-year to an average of £3.4m in 2018. Just under half (43) of chief executives at FTSE 100 companies saw their pay increase last year, according to figures from the High Pay Centre and Chartered Institute of Personnel…
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13 August
UK can avoid no-deal ‘Brexit chaos’, says Next CEO
Next CEO Simon Wolfson has said he believes that the UK will avoid “serious disruption” in the case of a no-deal Brexit. Speaking to the BBC’s Today Programme, Wolfson, who supported the Leave campaign in 2016, believes a no-deal Brexit will only lead to “mild disruption”. He said the government’s…
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