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- 2019 -30 OctoberEconomy
Shop prices decrease again in October
Shop price deflation decelerated to 0.4% in October from -0.6% in September, according to new figures from the British Retail Consortium (BRC). The results are below the 12- and six-month average price changes of 0.2% and -0.2%, respectively. Additionally, non-Food deflation decelerated to 1.5% in October, from -1.7% in September,…
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29 OctoberEconomy
Retailers report ‘record high’ stock levels in October
Retailers’ stock levels in relation to expected sales were at their highest on record in October, according to the latest monthly CBI Distributive Trends Survey. The news comes against the backdrop of a continuing decline in sales on the high street, and the latest spike in stock adequacy (the highest…
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24 OctoberPeople Moves
85,000 retail jobs lost in the last year
Third-quarter retail employment fell by 2.8% year-on-year, the equivalent of around 85,000 jobs, marking the 15th consecutive quarter of decline in the retail workforce. According to the latest figures from the British Retail Consortium (BRC), full-time employment saw a decrease of 4.5% compared to the decrease in part-time employees of…
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23 OctoberHigh Street
UK retailers store profit margins halved since 2011, study finds
A new report by global professional services firm Alvarez and Marsal, in partnership with Retail Economics, has shown that store-based profit margins for the top 150 UK retailers have more than halved in less than a decade, dropping from 8.8% in 2009/10 to 4.1% in 2017/18. “Ballooning” operation costs have…
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21 OctoberHigh Street
Bonmarché enters administration putting 2,900 jobs at risk
Womenswear retailer Bonmarché has entered administration, resulting in around 2,900 jobs being placed at risk including 200 at its head office. With 318 branches located around the UK, Bonmarché appointed FRP Advisory as administrators who said the brand had a “sustained period of challenging trading conditions.” Alastair Massey, Tony Wright…
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16 OctoberEconomy
Retail sector could face £137m rates hike next year
September’s headline rate of inflation is set to cause more business rates increases in 2020, according to calculations from real estate advisers Altus Group. The firm said the 1.7% uprating for inflation will add an additional £536m to the overall gross business rates burden. As a result, the “embattled” retail…
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15 OctoberEconomy
BRC ‘disappointed’ with business rates relief in Queen’s speech
The British Retail Consortium has responded to the Queen’s speech, praising its approach to crime and sustainability but was “surprised and disappointed” at its approach to business rates. Commenting on the speech, which tackled issues such as immigration, crime, business rates and brexit, The BRC said: “The Government should implement…
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2 OctoberComment
5G will transform the retail experience
We’ve all heard about the rollout of the 5G mobile network and what it will mean for us as consumers, like almost instantaneous download speeds and ultra-reliable network connectivity. For businesses, the potential of 5G opens doors to revolutionary changes that will transform British industries. According to research, 5G could…
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2 OctoberHigh Street
Shop prices fall by 0.6%, fastest rate since May 2018
Shop prices in September have fallen at the fastest since May 2018, according to the latest figures from the BRC-Nielsen Shop Price Index. The index found September shop prices fell by 0.6% compared with a 0.4% decrease in August. This is the highest rate of decline since May 2018. Non-Food…
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1 OctoberAdvice
From clicks-to-bricks
2019 continues to be an extremely turbulent time for the retail sector. Barely a week goes by when we don’t hear of yet another, long-standing and well-established high street retailer beginning to crumble as it struggles to keep up with a number of online rivals. In fact, new figures released…
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