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.
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May- 2021 -28 MayClothing & Shoes
JD Group chairman banks £6m in bonuses despite 75% pay cut
The executive chairman of JD Group, Peter Cowgill, was reportedly handed nearly £6m in “special bonuses” over the course of 18 months despite the company accepting more than £100m in government support. During the course of the pandemic, the group received £86.1m in furlough payments for staff and roughly £38m…
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27 MayHigh Street
Pets at Home sales top £1bn in FY21
Pets at Home has reported that group sales rose by 7.9% to £1.14bn in its financial report for the 52 weeks ended 25 March. The pet retailer also saw a 35.5% increase in statutory pre-tax profit to £116.4m over the period, with like-for-like sales also jumping 8.7%. For Pet at…
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26 MayShopping Centres
British Land sees portfolio value plummet £2bn
British Land has seen the valuation of its portfolio cut by £2bn during FY21, falling from £11.16bn to £9.13bn in the period. The 10.8% year-on-year decline in the group’s portfolio value was driven by a 24.7% decrease for the year ended 31 March for British Land’s retail operations. The property…
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26 MaySupermarkets
The Spar Group sees H1 profits rise 28%
The Spar Group has revealed that its operating profit for the six months ended 31 March 2021 grew 28% to R1.7bn (£86.8m) from R1.3bn (£66.4m) the previous year, reflecting “exceptionally strong performances” in European countries. Turnover also increased by 7.5% to R64.2bn (£3.2bn) from R59.7bn (£3.05bn) despite sales slowing “significantly”…
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26 MayClothing & Shoes
Ralph and Russo takeover on the rocks
The sale of womenswear brand Ralph and Russo is reportedly in doubt as businesses are unable to commit due to the impacts of Covid-19 on the sector. The company fell into administration in March following the resignation of Tamara Ralph, co-founder and creative director, after a “dispute” with fellow co-founder…
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25 MayOnline & Digital
Made.com launches £1bn London IPO
Online furniture retailer Made.com has announced its expected intention to float on the London Stock Exchange for £1bn. Founded in the UK 11 years ago, the e-commerce retailer had already enlisted JP Morgan, Morgan Stanley, and Liberum this February to work on the plans for the IPO. The group had…
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25 MayHigh Street
Mothercare sales plunge 40% in FY21
Mothercare has revealed that sales in its unaudited full-year results are set to plunge 40% to £326m, reflecting the impact of the pandemic on the global markets in which its franchisees operate. The group said the impact of Covid-19 has “varied enormously” by market as countries have addressed the pandemic…
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25 MayHigh Street
Ted Baker completes bank refinancing after Covid halts results
Ted Baker said it has signed an extension to its revolving credit facility (RCF) with its existing lending syndicate. Under the new terms, the existing RCF of £108m maturing in September 2022 and restricted RCF of £25m maturing in January 2022, will be replaced by a new RCF of £90m…
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21 MayHigh Street
Retail sales climb 9.2% in April
Retail sales across the UK increased 9.2% in April 2021 when compared to the previous month, as the easing of restrictions included the opening of non-essential retail across England, Wales, and Scotland during the period. According to the ONS’s retail sales data, sales grew 42.4% year-on-year due to April 2020…
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21 MayEconomy
Consumer confidence jumps six points in May
Consumer confidence in the UK has increased by six points to -9 in May 2021, according to GfK’s Consumer Confidence Index. The market research company primarily attributed this to the easing of lockdown restrictions and vaccine rollout, which it believes gave the country’s retail sector a much-needed boost. While respondents…
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