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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Jul- 2021 -21 JulyEntertainment
HMV to open 10 high street sites
HMV, the music and entertainment retailer, reportedly intends to launch 10 new shops across the UK this year. According to the BBC, the plans include the opening of a new London flagship site, following the closure of its former Oxford Street flagship as the group collapsed into administration over two…
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2 JulyCoronavirus
450,000 businesses to be hit by tapered support measures
The retail sector is set to be hit by the tapering off of government support measures, with businesses now set to contribute 10% towards the cost of furlough following measures that came into effect yesterday (1 July). The move will affect an estimated 450,000 businesses, including many retailers, according to…
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Jun- 2021 -18 JuneDepartment Stores
John Lewis appoints AlixPartners to conduct supply chain review
John Lewis has reportedly appointed AlixPartners to conduct a strategic review of its supply chain and buying habits. According to Drapers, the restructuring firm has been instructed to examine its supply chain and its buying practises, including intake margins, in order to see if it can save variable costs. The…
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15 JuneCoronavirus
Sunak to reject furlough extension calls despite ‘freedom day’ delay
Chancellor Rishi Sunak is reportedly set to reject calls for an extension of the furlough scheme and business rates report to businesses despite the prime minister announcing a four-week delay to the lifting of restrictions. According to the Guardian, sources close to the chancellor have said that he believes sufficient…
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9 JuneCoronavirus
RSM retail head calls for ‘more flexible furlough scheme’
Jacqui Baker, head of retail at RSM, has called for a more “flexible furlough scheme” to allow retailers to “manage peaks and troughs of activity”, as the UK comes out of lockdown. In her plea, which comes ahead of the government’s coronavirus select committee this afternoon, Baker said that retailers…
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May- 2021 -28 MayClothing & Shoes
JD Group chairman banks £6m in bonuses despite 75% pay cut
The executive chairman of JD Group, Peter Cowgill, was reportedly handed nearly £6m in “special bonuses” over the course of 18 months despite the company accepting more than £100m in government support. During the course of the pandemic, the group received £86.1m in furlough payments for staff and roughly £38m…
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24 MayDepartment Stores
John Lewis chair calls for rates rethink to help ‘level’ up retail
John Lewis chair Sharon White has called for chancellor Rishi Sunak to scrap the business rates system in favour of a new land tax which could help “level up” the playing field when it comes to physical and online retail. Speaking to The Telegraph, White said that reform is needed…
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18 MayClothing & Shoes
Shoe Zone reports £2.6m loss as revenues fall 40%
Shoe retailer Shoe Zone has reported a loss before tax of £2.6m for the six month period ending 3 April. The retailer attributed the loss to “tighter cost controls and an increase in digital”. It comes as it also saw revenues for the period plunge over 40% to £40.4m. As…
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13 MayHigh Street
Retail sales up by 7.3% in April after reopening
Retail sales increased substantially between 4 April and 1 May 2021, around the time non-essential retail was allowed to reopen, compared to April 2019, according to the British Retail Consortium (BRC) and KPMG’s survey of retailers in the UK. Due to 2020 being a “turbulent time” for the sector, BRC…
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11 MaySupermarkets
Morrisons predicts stronger profits amid sales surge
Morrison’s has predicted that net debt for the year will be no higher than pre-pandemic levels and that profit before tax will grow to more than the £431m the group achieved last year had the group not waived its right to £230m business rates relief. The news follows the supermarket’s…
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