Coronavirus
This coverage analyses the impact of coronavirus on the UK retail industry, focusing on operational challenges, government measures, financial pressures, workforce management, and shifts in consumer behaviour. Reporting provides insights into how retailers responded to closures, safety protocols, supply chain disruptions, and evolving customer needs — helping executives and managers assess lessons learned and long-term changes.
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Mar- 2020 -23 MarchEconomy
FCA asks companies to delay preliminary financial accounts
The Financial Conduct Authority (FCA) has requested companies which were due to issue its preliminary trading updates in the next few days to delay publication, amid the ongoing disruptions caused by the outbreak of the coronavirus. The FCA urged all listed companies to observe a moratorium on the publication of…
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23 MarchDepartment Stores
John Lewis stores to close for first time in 155 years
John Lewis Partnership has announced the temporary closure of all John Lewis stores in light of the coronavirus pandemic. All 50 sites will cease trading today (Monday 23 March), after the “difficult decision” was confirmed by its board. It marks the first time in the group’s 155-year history that its…
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20 MarchHigh Street
Covid-19: Government to pay 80% of salary to staff unable to work
Chancellor Sunak Rishi has said the government will pay 80% of wages to employees who aren’t able to work due to the coronavirus, up to £2,500 a month, according to the BBC. The “unprecedented measure” comes as the government has unveiled more plans to protect jobs and businesses amid the…
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20 MarchDepartment Stores
Harrods to close amid coronavirus chaos
World-famous department store Harrods is to close its doors this evening (23 March) due to the coronavirus pandemic. It said the welfare of its community of colleagues, customers and partners has been its “absolute priority throughout this time of uncertainty”. As a result, it has made the “very difficult decision”…
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20 MarchHigh Street
Frasers Group issues profit warning and drops FY20 guidance amid Covid-19
Mike Ashley’s Frasers Group has issued a profit warning after revealing its board expects Covid-19 to cause a “significant disruption” to its business. The retailer said the impact, including customer footfall, will likely mean the group “will not achieve” its previous guidance of 5-15% EBITDA growth for the year ending…
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20 MarchClothing & Shoes
TK Maxx closes UK stores amid Covid-19 virus outbreak
Discount store TK Maxx has become the latest retailer to take the decision to temporarily close its stores amid the recent outbreak of coronavirus. TK Maxx has announced all stores in the United States, Canada, Europe and Australia have will close for two weeks. The company has also announced it…
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20 MarchSupermarkets
Government tells supermarkets to ‘join forces’
The Department for Environment, Food and Rural Affairs (DEFRA) has told supermarkets to “join forces” as the coronavirus crisis unfolds. It announced it is “temporarily relaxing” elements of competition law as part of a new package of measures to allow supermarkets to “work together to feed the nation”. The move…
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19 MarchAnalysis
Huge increase in online sales across Italy offers hope for struggling retailers in the UK and Ireland
Global financial markets continue to suffer from the impact of coronavirus, with economists predicting the slowest rate of global growth since 2009. However, the current lockdown taking place in Italy has actually instigated a significant boom in e-commerce sales. With people quarantined at home, and schools, universities, theatres, cinemas, museums,…
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19 MarchHigh Street
Next warns on coronavirus despite full-year sales growth
Fashion retailer Next has warned that sales could plummet in the coming weeks and months as the UK battles the coronavirus pandemic, despite posting strong results for the year ended January 2020. Next full price sales were up 4% during the period, and brand total sales (including markdown sales) were…
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19 MarchEconomy
New bank of England boss promises fresh measures to fight Covid-19
The new Bank of England boss, Andrew Bailey, has promised a fresh set of measures to help fight the economic “emergency” faced due to the coronavirus outbreak. Bailey, who has only been in the position for three days after taking over from former Bank Of England chief Mark Carney, told…
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