Base Rate
This coverage focuses on the UK base rate and its impact on the retail sector. Stay informed on how changes to the base rate affect consumer spending, borrowing costs, and overall economic conditions. Tailored for retail professionals, our reporting provides insights into how monetary policy influences retail pricing, supply chain decisions, and broader business strategies within the UK retail industry.
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Aug- 2025 -21 AugustDepartment Stores
Debenhams completes £175m refinancing deal
Debenhams Group has completed a new three-year facility providing access to funding of up to £175m, led by former owner TPG. The new facility, which extends maturity to August 2028, replaces its previous £125m revolving credit facility originally due to mature in October 2026. Executed by the new management team…
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Mar- 2025 -28 MarchSupermarkets
Asda unveils £80m investment into retail pay
Asda has announced an £80m investment in retail pay to increase hourly rates for store-based colleagues to £12.60 from October. Circa 115,000 Asda Retail and Asda Express colleagues will receive an above inflation increase of 4.7% in three phases, taking rates from £12.04 to £12.60 per hour. Hourly rates for…
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Feb- 2025 -20 FebruarySupermarkets
Asda narrows median gender pay gap to 4% in 2024
Asda has reduced its median pay gap between all male and female colleagues from 5% in 2023 to 4% in 2024, according to its newly published 2024 Gender Pay figures. It also revealed that 92% of Asda’s total UK workforce consists of hourly-paid retail store colleagues, all earning the same…
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May- 2024 -13 MaySupermarkets
Lidl GB ups staff pay for third time in 12 months
Lidl GB has announced that it is increasing pay for hourly-paid colleagues to a minimum of £12.40 across the country, up from £12, marking the third time it has increased staff pay in the past year. In London, colleagues will see entry level pay rise to £13.65, up from £13.55.…
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Jan- 2024 -24 JanuaryNews
ProCook announces commitment to Real Living Wage
ProCook has announced today its commitment to paying at least the Real Living Wage for all colleagues, reflecting its ongoing investment in its people. The base rate of £12 per hour will be offered as a minimum to all colleagues regardless of age, with London workers receiving £13.15 per hour. …
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Nov- 2023 -13 NovemberNews
Two-thirds of retailers warn peak trading will be hit ahead of Christmas
Two-thirds of retailers say the ‘double whammy’ of spiralling interest rates and inflation will hit peak trading in the run-up to Christmas, according to a new Inventory Planner survey. More than four out of ten sellers (41%) are planning to buy less stock for festive shoppers because of the impact of 14…
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Aug- 2023 -8 AugustClothing & Shoes
Superdry agrees £25m secondary lending facility
Superdry has announced that it has agreed a deal with Hilco Capital Limited for a secondary lending facility worth £25m. The facility with Hilco is a 12 month term with the option to extend and is at an interest rate of 10.5% plus the Bank of England base rate on…
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Jun- 2023 -23 JuneAnalysis
How a 5% interest rate hike will affect trading
It was announced yesterday (22 June) by the Bank of England that interest rates will immediately increase from 4.5% to 5.%, marking the 13th consecutive hike since rates were first increased in December 2021 from a low of 0.1% to 0.25%. So far in 2023, this is the fifth consecutive…
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Apr- 2023 -26 AprilHigh Street
Majestic makes ‘biggest investment ever’ in staff pay
Majestic, the specialist wine retailer, has revealed it has made its “biggest ever investment” in colleague pay to recognise the “expertise and experience” of its store teams. All store colleagues have been awarded a basic pay increase that takes their hourly rate to at least £10.60, ahead of the National…
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Feb- 2023 -2 FebruaryEconomy
BoE raises interest rates to 4%
The Bank of England (BoE) has announced that interest rates will be raised by 0.5%, bringing the base rate of interest to 4%, the highest level in 14 years. The increase, which is the tenth consecutive increase, was decided after the bank’s Monetary Policy Committee (MPC) voted by a majority…
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