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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Oct- 2021 -26 OctoberNews
BPF calls for intervention to bring forward £8.5bn high street boost
The British Property Federation (BPF) has called for “immediate intervention” to bring forward an £8.5bn boost for UK high streets if the fundamental reform of business rates is delayed. It revealed that analysis from property advisor Avison Young shows that as a result of the next revaluation the total annual…
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14 OctoberHigh Street
Over 40 employee groups pen letter urging Sunak to cut business rates
The CBI, along with 41 trade associations spanning the UK economy, have issued a joint statement urging the chancellor Rishi Sunak to reform the business rates system and “unleash a wave of business investment across key government priorities, including net zero and levelling up”. The joint statement from businesses is…
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14 OctoberEconomy
Mid-market retailers set to continue investments, RSM say
The shift in focus to online in the mid-market retail sector is set to continue, with the majority of retailers looking to enhance their online offering, with 83% and 78% looking to increase the volume and range respectively, according to new research from RSM. The accountancy firm said the research…
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12 OctoberHigh Street
Retailers plan increased store space despite business rates challenge
Mid-market retailers are set to invest in more physical stores over the next two years in a bid to increase their store space and focus on the in-store customer experience, new research from RSM has found. Its latest survey revealed that 58% of physical retailers plan to increase their retail…
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Sep- 2021 -22 SeptemberNews
Fenwick losses widen to £112m
Department store chain, Fenwick, has revealed its losses have widened to £112m for the 52-week period ending 29 January 2021. The company said the results come after what it called “the most difficult trading conditions in living memory” with the Covid-19 pandemic forcing its stores to be closed for 21…
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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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