Covid-19
This coverage examines the effects of Covid-19 on the UK retail industry, focusing on operational disruption, financial pressures, consumer behaviour shifts, and recovery strategies. Reporting includes lockdown impacts, safety measures, supply chain challenges, online growth, and leadership decisions that shaped responses to the crisis. Designed for executives and managers, it offers lessons and insights for navigating future disruptions.
-
Jun- 2022 -10 JuneHigh Street
ProCook issues FY23 profit warning amid ‘challenging’ market
ProCook has issued a warning over its profits for the upcoming financial year, as its trading has been impacted by “increasingly challenging market conditions” since its Q4 update, with customers affected by the “exceptional” pressures on spending. The kitchenware group noted that in the current quarter, it is also trading…
Read More » -
8 JuneClothing & Shoes
N Brown revenue hits £43.1m in FY22
N Brown has welcomed a resilient year of trading in FY22, with a sustained growth in customer numbers as pre-tax profit hit £43.1m against £29.4m the prior year. Despite revenue dipping slightly to £715.7m, down from the £728.8m reported in FY21, EBITDA was also higher, rising from £84.9m to £95m.…
Read More » -
May- 2022 -25 MayComment
AI-powered self-service is the future of physical retail
At the start of the Covid-19 pandemic, retail was among the most impacted industries: over 17,500 chain stores closed in the UK in 2020. At the same time, e-commerce growth numbers went through the roof. According to Digital Commerce 360, “the pandemic facilitated a gain of around $218 billion in…
Read More » -
24 MayHigh Street
Harrods appoints chief financial officer
Harrods has appointed Tim Parker as its new chief financial officer for the group. He joins Harrods following 10 years at Jardin Matheson, where he held a range of senior finance leadership positions across Hong Kong and Malaysia for the diversified Asia-focussed group. Originally qualifying as an accountant with PwC…
Read More » -
19 MayNews
The Great Resignation: Why the battle for talent sees retail staff come out on top
A new report by stakeholder intelligence firm alva has revealed the biggest winners and losers from the last three years when it comes to positive employer and employee sentiment in the UK. As the UK begins to climb out from the pandemic and find a new way forward, retail workers…
Read More » -
19 MayPeople Moves
Currys appoints Asos’ Ian Dyson as new chair
Currys plc has appointed Ian Dyson as chair of the board, effective 8 September 2022, succeeding Ian Livingston who will step down on the same date. Dyson will also join the company as a non-executive director on 1 September 2022. He is currently chair of Asos’ board, and is a…
Read More » -
18 MayLuxury Goods
Watches of Switzerland hails record revenues of £1.23bn
The Watches of Switzerland Group has reported its group revenues surged 40% year-on-year from £905m to £1.23bn in the 53 weeks ending 1 May 2022 (FY22), marking a “record” year of revenue and profitability. All in all, UK revenues were up 36% to £810m and US revenues were up 48%…
Read More » -
18 MayClothing & Shoes
N Brown profits surge 46% to £43m
N Brown, the owner of high street brands Jacamo and Simply Be has revealed its profit before tax increased 46.6% to £43.1m for the full-year period ended 28 February 2022. The retailer posted the profit increase despite seeing revenues dip 1.8% reflecting a 0.6% reduction in product revenue and a…
Read More » -
18 MayClothing & Shoes
Burberry lowers FY23 forecast despite record revenues
Burberry has lowered its FY23 forecast as it expects a currency tailwind of £159m on revenues and £92m on adjusted operating profit, despite hailing record revenues in FY22. The group announced revenues surged 21% year-on-year from £2.34bn to £2.82bn for the 53 weeks ending 2 April 2022, against a backdrop…
Read More » -
17 MayDIY
Victorian Plumbing H1 profits fall to £2.7m
Victorian Plumbing Group has revealed its operating profit for the first half of the year has fallen 80% YOY to £2.7m. The online bathroom retailer also revealed revenues for the period were down 5% year-on-year to £133.9m (H1 2021: £140.7m), lapping a “tough comparable period” resulting from market outperformance during…
Read More »
