Black Friday
This coverage examines Black Friday’s impact on the UK retail sector, focusing on sales performance, promotional strategies, consumer trends, supply chain pressures, and operational planning. Reporting provides insights into how retailers prepare for and execute campaigns, manage demand, and assess outcomes — offering valuable context for executives and managers navigating peak trading periods.
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Dec- 2023 -22 DecemberNews
Today’s news in brief- 22/12/23
Nike has announced a cost-saving plan of $2bn over the next three years and revised down its sales forecast. This move has led to an over 11% drop in the company’s stock price during after-hours trading. The company anticipates a pre-tax charge of $400-450m in the current quarter due to…
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22 DecemberNews
UK retail sales rise 1.3% in November
Retail sales volumes are estimated to have increased by 1.3% in November 2023, from no growth (revised from a fall of 0.3%) in October 2023, according to new figures by the ONS. Non-food store sales volumes rose by 2.3% in November 2023, following a 0.2% increase in October 2023. Retailers…
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22 DecemberSport & Leisure
Nike lowers sales forecast amid $2bn cost savings plan
Nike has announced that it is set to make cost savings of $2bn (£1.57bn)across the next three years and has lowered its sales forecast. This news caused the sportswear retailer’s stock price to drop over 11% in after hours trading yesterday. The company expects a pre-tax charge of between $400m(£315m)…
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20 DecemberEconomy
UK inflation falls to two-year low of 3.9%
UK inflation has fallen to 3.9% in the year to November, the lowest level seen in two years, according to new figures from the Office for National Statistics. The rate of inflation was lower than expected after falling from a rate of 4.6% in October, though the ONS said prices…
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14 DecemberNews
Today’s news in brief-14/12/23
Farfetch is reportedly in talks with Apollo Global Management to secure emergency funding as it faces financial challenges. Farfetch, once valued at $23bn (£18bn) in 2018, now has a market value of $221m (£175m). While discussions with Apollo are ongoing, it is uncertain whether the funding will be provided as…
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14 DecemberElectrical
MusicMagpie revenues bolstered by Black Friday
MusicMagpie expects its full-year revenues to reach £136.6m, slightly down from £143.3m in the year prior, despite a “record” Black Friday period which has helped off-set a softer H1. However, the retailer maintained that consumer technology revenues for the second half increased 7.5% over the same period in 2022, and…
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12 DecemberNews
Under Armour opens store at The O2
Under Armour, the global sports apparel brand, has opened its London outlet debut store at Outlet Shopping at The O2, which is owned and operated by Waterfront Limited Partnership, a joint venture between AEG and Crosstree Real Estate Partners. The new Under Armour store occupies 3,949 sq ft on Outlet…
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11 DecemberNews
Today’s news in brief-11/12/23
November proved to be a challenging month for UK retailers, with Black Friday discounts failing to uplift sales, according to figures from accountancy firm BDO. Despite a positive start with a 4.7% increase in week one, like-for-like sales in November declined by 0.3% compared to the previous year. The fashion…
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11 DecemberEconomy
Black Friday fails to rally shoppers during ‘bleak’ November, BDO finds
Significant discounts in the run up to Black Friday failed to rally UK shoppers, resulting in “another disappointing month” for retailers, according to new figures released today by accountancy and business advisory firm BDO. According to its High Street Sales Tracker, total like-for-like (LFL) sales in November fell by 0.3%…
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7 DecemberNews
Today’s news in brief-7/12/23
Kelso, an activist shareholder in THG, has intensified its campaign for THG to clarify its plans to separate its three business divisions. Kelso believes that splitting the divisions (beauty, nutrition, and ecommerce services) would bridge the gap between THG’s share price and its true value. The shareholder has written to…
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