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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Feb- 2018 -26 February
90% of small firms not prepared for new data regulation
Over a third of small businesses have not yet started preparing for the introduction of the General Data Protection Regulations (GDPR), according to the Federation of Small Businesses (FSB). A further third (35%) are only in the early stages of preparation, claims the new research published today. Only 8% of…
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23 February
Retail sales growth slows for third consecutive month
UK retail sales growth slowed for the third month in a row, according to CBI’s Quarterly Distributive Trades Survey. A growth in sales volumes was recorded in the grocers, hardware and DIY, and non-store goods (i.e. internet and mail order) sub-sectors. However, sales fell in clothing, footwear and leather, department…
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21 February
International consumers prepared to pay up to 22% more for British goods
As UK exports continue to thrive, new research by Barclays shows the premium that international consumers are prepared to pay for ‘made in Britain’ labelled goods. An international survey of 8,060 people from eight markets (France, Germany, Republic of Ireland, India, China, UAE, USA, and South Africa) has uncovered the…
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19 February
Third of SME retailers expect Bitcoin on high street in two years
Cryptocurrency will be a regular thing on the UK high street say a third of SME owners.A study conducted by payments provider Paymentsense showed that 35% of SME owners surveyed expected to see Bitcoin and other forms of cryptocurrency on the high street within the next two years. Over a…
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16 February
Co-op set to open ‘record number’ of stores and refits
The Co-op will be opening 30 new food stores and refurbishing seven existing properties from its current portfolio in the London region. The first phase of new stores will be located in Walthamstow, Colliers Wood Station, Cricklewood, Colindale Station and Paddington. Peter Batt, Co-op divisional managing director, said it’s an…
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16 February
UK retail sales at lowest for almost a year
UK retail sales increased by 0.1% in January, their lowest growth rate since April 2017, according to the Office of National Statistics (ONS). The latest figures showed declines across all segments except non-food stores. The 0.1% growth fell short of the predicted increase of 0.5%. When compared with January 2017,…
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13 February
Insolvency cracks showing with one in five fashion retailers
Some 19% of UK clothing retailers are currently exhibiting early warning signs that they are at risk of going insolvent, according to research by accountancy firm Moore Stephens. Out of 35,078 fashion retailers analysed, 6,580 are showing early signs of financial distress, which can include a large fall in revenue…
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6 February
Consumer spending grows 3.9% in January
Consumer spending increased 3.9% in January, partially driven by price increases that continued to drive uplifts in ‘essential’ spending. That is according to data from Barclaycard, which processes nearly half of the nation’s credit and debit card transactions. Spending growth on day-to-day necessities surpassed 4% for the first time in…
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6 February
January shows positive retail growth amid tough trading month
January saw positive retail growth despite challenging market conditions, with like-for-like sales rising by 0.6% compared with the same period last year. Helen Dickinson, CEO at the British Retail Consortium (BRC) said that the persisting tough trading environment played out at the start of the year with a “mixed set…
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Jan- 2018 -30 January
House of Fraser Boss wants Theresa May to give ‘clearer Brexit signal’
The billionaire owner of House of Fraser has called on the Prime Minister to provide a “definite signal” on what type of Brexit deal she wants. Ahead of Theresa May’s visit to China, Yuan Yufai said it was important for the UK government to reassure people. Yufai is the owner…
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