Brexit
This coverage examines the impact of Brexit on the UK retail sector, with reporting on trade agreements, tariffs, supply chain disruptions, labour market changes, and regulatory adjustments. Insights are tailored to retail managers and executives assessing how post-Brexit developments shape operations, costs, and strategic planning within the industry.
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Dec- 2020 -14 DecemberClothing & Shoes
French Connection secures $6.5m in additional funding
French Connection has announced it has secured $6.5m (£4.9m) in additional funding, as part of its latest trading update. The UK fashion retailer said it secured the funding through the Main Street Lending Programme to support its US-based operations and staff. The loan will be for a period of five…
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14 DecemberNews
No need to panic buy before Brexit, says BRC
The British Retail Consortium (BRC) has urged members of the public to refrain from stockpiling food before Britain leaves the EU on 1 January. The plea comes after the UK and EU confirmed on Sunday (13 December) that the deadline for reaching a deal on post Brexit would be extended. …
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11 DecemberGovernment
No-Deal Brexit could see UK face £3bn tariff ‘bombshell’
The British Retail Consortium (BRC) has warned that UK supermarkets and their customers could face a £3.1bn tariff “bombshell” on groceries unless a Brexit deal is agreed with the EU in the coming days. The trade body warned that without a deal, this increase in tariffs will “leave retailers with…
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10 DecemberNews
Tesco warns of Brexit impact on food and prices
Tesco has warned that shoppers could face temporary shortages on fresh produce and higher prices if the UK fails to negotiate a Brexit deal with the EU, according to The Guardian. John Allan, chairman of Tesco, told Bloomberg TV that a no-deal Brexit would “trigger tariffs” and would lead to…
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8 DecemberClothing & Shoes
Joules sales hit by lockdown
Joules has announced that group revenue was down by 15.3% to £94.5m in the 26-week period ended 29 November 2020. According to the group, this reflected the impact of enforced store closures as well as the cancellation of country shows across the UK, alongside the fact that total store trading…
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2 DecemberDepartment Stores
John Lewis halts international business plans
John Lewis has announced that it is shutting its international business operations only weeks before Christmas, according to The Times. The department store chain is believed to have decided that its international business is too expensive and will stop taking new orders from 9 December. The decision is said to…
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Nov- 2020 -6 NovemberCoronavirus
October retail recovery reverses with new lockdown
Despite UK retailers seeing an economic recovery in October, a second national lockdown in England risks reversing the sector’s financial progress. According to BDO, with non-essential retail back on lockdown from yesterday (5 November) until the beginning of December, the “most critical season of the year is now under threat…
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5 NovemberCoronavirus
Bank of England unveils £150bn covid support package
The Bank of England (BoE) has unveiled it will give the UK economy a further £150bn in crisis support and keep interest rates at a record low, due to the rapid rise in Covid-19 restrictions across the country. At the Banks latest Monetary Policy Committee (MPC), members stated that the…
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Oct- 2020 -15 OctoberOnline & Digital
AO World H1 revenues surge 57%
Online retailer AO World has reported a 57% increase in revenues for the six month period ending 30 September 2020. In an interim trading update AO World said it expects group revenue for the period to be £715m. It also revealed that UK revenue increased by 54% and in Germany…
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13 OctoberEconomy
UK retail sales rise by 6.1% in September
Retail sales in the UK increased on a like-for-like basis by 6.1% in September from the same period last year, according to BRC-KPMG’s retail sales monitor. Non-food retail sales increased by 5.2% on a like-for-like basis by 5.2% and 3.2% on a total basis. On a total basis, sales rose…
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