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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Aug- 2019 -9 AugustGovernment
Gove orders HMRC to support SMEs in the event of no-deal
Ministers including Michael Gove have ordered HM Revenue & Customs (HMRC) to support “cash-strapped” small business in the event of a no-deal Brexit. Representatives from 19 of the UK’s largest business federations met with ministers at No 10 yesterday (8 August) to discuss how to accelerate “business preparedness” for leaving…
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6 AugustHigh Street
July consumer spending hits record low
UK consumer spending in the month of July fell to a record low despite the good weather, according to the latest statistics from the British Retail Consortium (BRC) and KPMG. On a total basis, sales increased by 0.3% in July, against an increase of 1.6% the previous year, it is…
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5 AugustComment
Spotlight: Retailers defying the high street doom and gloom
Joules British clothing retailer Joules has continued to defy the high street gloom over the past two years, and so far has not buckled under the pressures of ‘brexit uncertainty’ and the shift in consumer tastes and trends. Originally established as Joule & Sons in 1977 by Ian Joule, the…
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1 AugustShopping Centres
Westfield’s UK net rental income down 3.1% amid Brexit ‘uncertainty’
Shopping centre giant Westfield has reported a 3.1% decrease in net rental income for its UK operations, covering the half year period ending 31 July. In the trade update, the landlord conglomerate said vacancy stood at 8.7%, primarily driven by some non-renewals,the impact of retailer bankruptcies, and the delays in…
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Jul- 2019 -31 JulyEconomy
Consumer confidence increases by two points in July
Consumer confidence rose by 2 overall to -11 for the month of July, according to GFK’s Consumer Confidence Index. Personal finance situation for the next 12 months continues to recover, +5 for the month, matching the same period last year. The major purchase index increased six points in July to…
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15 JulyHigh Street
Retail footfall ‘slumps’ in June
Footfall declined by 2.9% in June, attributed to the “exceptional and ongoing disruptive political and economic period”, according to retail intelligence firm Springboard. On a three-month basis, footfall decreased by 2.4%, and the six and 12–month averages were found to be -1.3% and -1.7% respectively. High street footfall also declined…
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11 JulyHigh Street
DFS shares fall over ‘Brexit uncertainty’ despite sales growth
Furniture retailer DFS saw shares drop by nearly 4% in early trading today (11 June), despite a 17% increase in like-for-like sales for the year ending 30 June 2019. It came after the retailer warned investors that it remains “mindful” of the “volatile” political and economic backdrop, and how it…
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10 JulyAdvice
The impact of Brexit on the UK retail market
It’s no secret that the UK retail sector is facing a serious crisis, with the demise of several vendors including HMV, Toys R Us and LK Bennett a stark example of companies which have failed to stay afloat. But where did it all begin and what actions can retailers take…
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10 JulyHigh Street
Superdry reports annual losses of £85m
Fashion retailer Superdry has announced pre-tax losses of £85.4m for the year to 27 April, compared with the profit of £65.3m reported the previous year. The company cited the “changes to the retail market” and the “uncertainty of Brexit” as some of the contributing factors for the downturn in trade.…
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9 JulyAnalysis
Disorderly Brexit could see the UK economy lose out on £22bn a year by 2024
Employers operating in retail most at risk of losing staff A ‘disorderly Brexit’ could see the UK suffer a £22bn reduction in economic output, compared to an ‘orderly Brexit’ – a new study has revealed. The report, developed by workforce management expert Quinyx in collaboration with Development Economics and Censuswide,…
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