Business Rates
This coverage examines business rates policy and its implications for the UK retail sector. Reporting focuses on government decisions, reforms, rate relief measures, and their impact on store operations, profitability, and investment decisions. Tailored for retail executives and managers, it provides analysis to help navigate costs, advocate for change, and plan effectively in response to fiscal pressures.
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Sep- 2021 -21 SeptemberHigh Street
Four in five shops to shut without business rates reform, says BRC
Some 83% of retailers would reportedly be forced to close shops without the introduction of a business rates reform as a part of the Government’s upcoming review. According to research conducted by the British Retail Consortium (BRC), 85% of those retailers surveyed recognised business rates as either an “extremely” or…
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16 SeptemberClothing & Shoes
Superdry sees its losses narrow to £36m
Superdry CEO Julian Dunkerton has hailed that the company is “turning the corner” after it revealed statutory losses before tax for FY21 have narrowed to £36.7m, down from £166.9m the previous year. In its preliminary results for the 52-week period ending 24 April 2021, the retailer posted a full year…
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16 SeptemberDepartment Stores
John Lewis Partnership reduces H1 losses to £29m
The John Lewis Partnership has reduced its losses in the first six-months of the year ending 31 July to £29m from a previous year’s loss of £635m. Revenue rose 5% during the period to £5.2bn from £4.9bn in 2020 and was boosted by improved sales performance. The company revealed that…
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6 SeptemberGovernment
SRC recommends budget proposals to support retail recovery
The Scottish Retail Consortium (SRC) has published a number of recommendations for the 2022-2023 Scottish Government’s budget to support a sustainable retail recovery. Set across six key measures, the industry body has called for action to stimulate consumer spending, protect vulnerable consumers, and aid hard-pressed businesses. While the first proposal…
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3 SeptemberHigh Street
August footfall still 18% below pre-pandemic levels, says BRC
Total UK footfall four the four week period ended 28 August 2021 remained 18% below its pre-pandemic August 2019 level. However, according to the British Retail Consortium (BRC) and Sensormatic IQ data, the four week period represented a 10% climb from July 2021. In turn, August’s figures sat above the…
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Aug- 2021 -24 AugustHigh Street
BPF calls for business rates reform
The British Property Federation (BPF) has called on the government to set out a roadmap to annually revalue business rates in a bid to avoid “crippling” high streets, citing that a business rates reform is “long overdue”. It comes as the government’s Business Rates Revaluations Consultation, proposing to introduce more…
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12 AugustEconomy
UK economy surges 4.8% in June
The UK economy grew by 4.8% in June as Covid-19 restrictions surrounding retail and leisure were eased across the UK, according to figures published by the Office of National Statistics (ONS). Gross domestic product (GDP) is estimated to have grown for a fifth consecutive month in June 2021, by 1.0%,…
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10 AugustHigh Street
July sales increase 6.4% but remain below yearly average
On a total basis, sales increased by 6.4% in July, against a growth of 3.2% in July 2020, according to the latest British Retail Consortium (BRC)-KPMG retail sales monitor. Despite the rise in sales, however, the monitor found that this was below the three-month average growth of 14.7% and the…
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10 AugustGovernment
Bira in talks with metro mayors to help retailers post-pandemic
The British Independent Retailers Association (Bira) has said it is involved in discussions with mayors of UK metropolitan cities to discuss “new ways” of supporting independent retailers post-pandemic. The talks, which are being led by the group’s CEO Andrew Goodacre, have been looking at support for reforms to business rates…
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Jul- 2021 -30 JulyHigh Street
One in seven UK shops still remain vacant, BRC reveals
More than one in seven shops on UK high streets, retail parks and shopping centres are currently vacant, according to the latest data from the Local Data Company and the British Retail Consortium (BRC). The data revealed that fashion stores were amongst the “hardest hit” as customers primarily shifted to…
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