Consumer Confidence
This coverage explores trends and insights into consumer confidence and their impact on the UK retail sector. Reporting includes survey data, economic indicators, shopper sentiment, and analysis of how confidence levels influence spending patterns, sales performance, and strategic planning. Designed for retail executives and managers, it provides context for understanding demand fluctuations and preparing for market challenges.
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Nov- 2024 -14 NovemberDIY
CDS Superstores acquires 70 Homebase stores out of administration
The Range and Wilko owner CDS Superstores has acquired 70 Homebase UK stores after the DIY retailer collapsed into administration. Gavin Park, Gavin Maher and Adele Macleod of Teneo Financial Advisory Limited were appointed as joint administrators of HHGL Limited and Hampden Group Limited, which trade under the Homebase name.…
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5 NovemberEconomy
Retail sales see weak growth in October amid pre-budget uncertainty
Total retail sales in the UK nudged up by only 0.6% in October, compared with a growth of 2.6% in October 2023, as retail was hit by ongoing uncertainty surrounding the autumn budget, the BRC has reported. The BRC also attributed this slowdown to the fact that the October half-term…
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Oct- 2024 -30 OctoberComment
How does a turnaround specialist help retailers improve their performance?
Erin Brookes’ journey into the world of retail consultancy is a testament to how passion, experience, and adaptability can shape a career in an ever-evolving industry. Now managing director and head of Retail at Alvarez & Marsal (A&M), Brookes’ career has spanned across operational and consulting roles, from working on…
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25 OctoberNews-In-Brief
Today’s news in brief-25/10/24
Boohoo has countered Frasers Group’s claims of “stone-walling” regarding the latter’s push to install Mike Ashley as Boohoo’s CEO. In response to an open letter from Frasers, which accused Boohoo’s board of hindering its proposals and expressed dissatisfaction with Boohoo’s recent debt refinancing, Boohoo stated that Frasers’ preference for Ashley…
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25 OctoberEconomy
UK consumer confidence falters ahead of budget
UK consumer confidence has dropped to -21 in October, according to GfK’s long-running index. The survey revealed that out of the five measures three declined and two rose compared with September’s announcement. The index measuring changes in personal finances during the last year was down one point at -10. Meanwhile,…
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8 OctoberEconomy
September retail sales see biggest boost in half a year
UK Total retail sales increased by 2% year on year in September marking the largest increase in over six months, according to the latest BRC-KPMG Retail Sales Monitor. Food sales increased 3.1% year-on-year over the three months to September, against a growth of 7.4% in September 2023. This is below…
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3 OctoberNews-In-Brief
Today’s news in brief-3/10/24
Tesco has reported a robust first half of the financial year, marked by increased sales and profits, prompting an upward revision of its full-year guidance. The supermarket giant achieved a 10% rise in retail operating profits to £1.56bn, with statutory operating profits climbing 13% to £1.6bn. This growth was supported…
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3 OctoberSupermarkets
Sainsbury’s chief calls for Budget action on consumer confidence
Sainsbury’s boss Simon Roberts has called on the government to introduce measures to improve consumer confidence in the Budget this month. He told Reuters that despite falling inflation, higher wages, and solid employment levels, UK shoppers remain nervous about spending on bigger ticket items. Recent surveys have shown UK consumer…
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1 OctoberHigh Street
The Works ‘well-positioned’ for Xmas despite PBT drop
The Works has seen its profit-before-tax fall to £6.9m for the year ended 5 May 2024, down from £9m last year. Despite this, the company believes it is “well-positioned” for profit growth in FY25, especially as it enters the Christmas period. The company’s revenue edged up 0.9% to £282.6m compared…
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Sep- 2024 -20 September
Today’s news in brief-20/9/24
In August, UK retail sales saw a 1% increase, marking a continued recovery with a 2.5% year-on-year growth, the strongest since early 2022. While overall volumes remain slightly below pre-pandemic levels, supermarkets and clothing stores benefited from warmer weather and seasonal sales. Online spending remained steady, showing a 4.3% increase…
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