Christmas
This coverage explores the critical Christmas trading period in the UK retail sector, focusing on sales performance, promotional strategies, consumer trends, supply chain planning, and operational challenges. Reporting highlights how retailers prepare for and execute peak season campaigns to maximise revenue and manage demand. Designed for executives and managers, it provides insights into effective planning and competitive positioning during the festive season.
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Nov- 2023 -7 NovemberNews
Watches of Switzerland Q2 revenues rise to £379m
Watches of Switzerland has reported that revenues increased to £379m in Q2 2023, up from £374m for the same period last year, due to robust demand for luxury watches. US revenue reached £165m, up 11% at constant currency. The group reported strong sales due to the opening of new mono-brand…
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6 NovemberHigh Street
Wilko to open first three concept stores before Christmas
Wilko will be opening five stores in Plymouth, Exeter and Luton before Christmas ahead of a wider roll out in 2024. The Plymouth store, which will be located at Unit A, Armada Centre, Mayflower Street, will open on 1 December, while the Exeter Store will open at Unit 100, Guildhall…
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6 NovemberSupermarkets
Morrisons slashes prices on festive items
Morrisons has cut prices of 58 “popular” festive items and is committing to keeping the prices low until 31 December. Products such as stuffing, roast potatoes, cranberry sauce and tin foil will see price cuts from today (6 November) so that shoppers can stock up ahead of Christmas day. The…
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6 NovemberDepartment Stores
Selfridges ownership uncertain as co-owner faces cash crisis
The future ownership of Selfridges is said to be uncertain following reports that its co-owner Signa is facing a financial crisis, according to The Times. Restructuring experts have reportedly been called in to help the real estate company raise funds after it was hit by rising borrowing costs and falling…
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6 NovemberSupermarkets
M&S to open record number of stores this month amid £80m investment
M&S will be opening nine new stores across the month of November – the most it has ever opened in one month – following a £80m investment in sustainable bricks-and-mortar retail. The openings, which will also create over 2,200 local jobs, will kick off with a new 65,000 sq ft…
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3 NovemberHigh Street
October washout sees footfall drop 5.7% in October
Footfall decreased 5.7% in October as wet weather negatively impacted consumers’ willingness to visit UK highstreets, according to the latest data from MRI Springboard. It found that high street footfall decreased by 4.6% in October (YoY), down from -1.7% in September. Meanwhile, retail parks experienced a 4.3% decline, down from…
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2 NovemberSupermarkets
Sainsbury’s set to hit upper half of guidance despite PBT drop
Sainsbury’s has announced that it expects to hit the upper half of its full year guidance of between £670m and £700m despite seeing its statutory profit before tax drop 27% to £275m for the 28 weeks ended 16 September 2023. The supermarket put the fall in profit before tax down…
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1 NovemberNews
Today’s news in brief-1/11/23
Asda has successfully finalised its acquisition of EG Group’s UK business, a deal valued at a substantial £2bn. This strategic move allows Asda to take ownership of EG Group’s UK&I operations, which encompass fuel, foodservice, grocery, and merchandise businesses. Notably, EG Group has clarified that it will retain operations in…
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1 NovemberEconomy
Black Friday spending to halve due to cost-of-living crisis
Overall spending per person over Black Friday is due to fall from £168.18 in 2021 back to the 2020 average of £86.06, according to Wunderman Thompson Commerce’s findings. This comes as the ongoing cost-of-living crisis, rising inflation and debt concerns are expected to limit shoppers’ spend during Black Friday 2023. …
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1 NovemberPeople Moves
Rise in shoppers planning to spend more this Xmas, study finds
More UK consumers are planning to increase their Christmas spending this year compared with last year, signalling a competitive festive season for retailers, according to research by Deloitte. Deloitte’s Consumer Tracker report surveyed more than 3,100 UK consumers about their spending intentions in the final three months of 2023 –…
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