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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Jun- 2018 -1 June
Mothercare relegated from FTSE 100
Troubled retailer Mothercare has been relegated from the FTSE 100 following financial woes that have seen it enter a CVA and close 50 stores. Analysts suspect that the relegation will see a further negative effect on share prices following the 48% share price drop it has already seen. The retailer…
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May- 2018 -31 May
World Cup boost of £1.33bn awaits
UK retailers could benefit from a £1.33bn economy boost during the 2018 World Cup this summer if England make it through the second round, according to research. A study conducted by the Centre of Retail Research (CRR) and VoucherCodes also suggested that this could rise to £2.72bn if the team…
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30 May
B&M profits buck high street blues, jump 20%
Discount retailer B&M has seen pre tax profit rise by 25.4% to to £229.3m along with group revenues rising to 22.4% for the year ending 31 March. The group opened 47 new stores last year and plans to open a further 45 this year as it continues to grow. The…
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24 May
Philip Green’s Arcadia records £10.9m loss
Topshop owner Arcadia Group – Philip Green’s retail empire – has recorded a loss of £10.9m in the year up to August 2017, starkly contrasting with last year when it profits were £59.4m. Accounts filed at Companies House showed the group also saw a 6% drop in sales down to…
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22 May
Revealed: M&S names stores to shutter
M&S has announced the next tranche of UK stores proposed for closure or set to close as it reshapes its UK store estate with plans to take at least a third of sales online. The retailer will close over 100 stores in total by 2022, including 21 that have already…
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22 May
Topps Tiles see profits crack by almost 33%
Topps Tiles has seen a 32.6% drop in pre-tax profits, falling from £9.5m to £6.4m. The firm did see revenue growth in the six months ending on March 31 by 3.7% up to £110.5m from £106.6m. In a recent attempt to pull in more customers the retailer ran several sales…
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21 May
M&S could close 40 more stores
M&S could close 40 more stores according to reports, bringing the total closed stores to 100 as it continues to struggle with bad economic weather on the high street. So far 20 of the chain’s stores have already closed down impacting 900 staff members, with staff finding out today whether…
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21 May
SME retailers see international payments double
Small and medium-sized retailers (SMEs) are responding to macroeconomic pressure in the UK by expanding internationally, according to a survey. WorldFirst’s latest Global Trade Barometer (GTB) quarterly survey from the currency exchange service company found that the average SME retailer made overseas transfers of £54,274 in Q1 2018 – nearly…
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15 May
Decline in retail vacancies slows job growth market
Job growth has slowed since the beginning of the year with the retail industry suffering the biggest decline, according to new figures published by UK job site Reed. The Reed Job Index shows the slowest growth rate for new job postings since it began in January 2010. The index was…
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14 May
Retail consumer spending sees sharpest drop since 2012
Consumer spending has suffered its sharpest drop in six years, according to Visa’s latest consumer spending index. Spending in-store fell by 5.4% in April when compared to the same period last year, while overall consumer spending fell by 2%, matching March’s year-on-year figures. Online spending was also down by 0.1%.…
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