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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Oct- 2018 -18 OctoberEconomy
Retail sector ‘to face £186.45m business rates increase next April’
Retail firms will see business rates increase by £186.45 next April for the year 2019/20, according to real estate advisor Altus Group. September’s Consumer Prices Index (CPI) measure of inflation, announced on 17 October at 2.4% will determine business rate rises in England for the next year. It is its…
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12 OctoberHigh Street
Hamleys reports £12m sales loss amid ‘most challenging year in retail history’
Toy retailer Hamleys has reported a sales loss of £12m for the full year to 31 December 2017. According to the the latest figures revenues dropped 2.5% to £66.3m and net assets also decreased by £11.7m, as well as an EBITDA loss of £4.7m. The group said 2017 was one…
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10 OctoberComment
How businesses can prepare themselves for trading following a no-deal Brexit
It should come as no surprise that the Government would leave establishing trade strategy within the EU, post-Brexit, up to the individual business. Now that retailers are going to be responsible for determining their own delivery structure, delaying the inevitable will do more harm than good, in an already volatile…
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9 OctoberAdvice
The Brexit dividend may be nearing an end for UK retailers – so what now?
Much has been made of the potential ‘Brexit dividend’ that the economy may enjoy if the UK parts company with Brussels in March next year, with the argument polarising commentators and economists. One sector of the economy that benefitted initially after the referendum is retail, as international shoppers were able…
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8 OctoberEconomy
Footfall continues to fall in September
Footfall continued on its decline in September, according to the Ipsos Retail Performance Weathermap. All regions saw a year-on-year drop in footfall, with Scotland and Northern Ireland recording a 3.3% decline and northern England seeing 5.5% less retail visitors. The Midlands, south west England and Wales and London and the…
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3 OctoberEconomy
Shop prices rise for second month in row
Shop prices increased for two consecutive months – the first consecutive growth in five years – according to the latest British Retail Consortium and Nielsen Shop Price Index. Inflation increased by 0.2% from the previous month with food being the main driver for the hike in prices. Food showed a…
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Sep- 2018 -27 SeptemberEconomy
One in four UK small retail businesses ‘fearful’ of Brexit, research finds
A quarter of small UK retail businesses admit they are “fearful” of Brexit, data from YouGov analysed by Vend has revealed. The retail software management company accessed a research sample of over 1,000 senior managers in the retail sector, working at organisations with fewer than 20 staff, on YouGov’s ‘profiles…
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26 SeptemberClothing & Shoes
Next CEO issues stark warning over the risks of a no-deal Brexit
Simon Wolfson, CEO of clothing retailer Next, has issued a warning over the the dangers of a no-deal Brexit, and said the UK’s departure from the EU needs to be “carefully managed”. In a report released alongside the group’s latest financial update, Wolfson said there were “significant challenges” involved in…
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21 SeptemberHigh Street
Strong retail sales growth in August helps strengthen British pound
Retail sales growth of 0.3% across all sectors in August, excluding food, clothing and petrol, saw the value of the British pound increase 0.7% against the dollar at $1.32. According to figures from the Office of National Statistics (ONS), the lower month-on-month growth rate in the quantity bought in food…
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14 SeptemberDepartment Stores
John Lewis Oxford Street flagship sees business rates rise 57% in a year
John Lewis’ flagship on Oxford Street, London is expected to see its business rates tax rise from £12.68m to £19.91m up 57% compared with last year’s revaluation. According to real estate advisor, Altus Group, the Oxford Street store alone will pay £41.04m in business rates over the four years of…
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