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 -20 MayDIY
Kingfisher raises guidance as Q1 sales soar 60%
Kingfisher has increased its profit forecast for the year after total sales for the first quarter of 2021 came to £3.44bn, resulting in a 60% year-on-year increase. The B&Q parent company saw like-for-like sales grow by 64.2% over the period compared to last year and posted a 22.5% rise when…
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18 MayClothing & Shoes
Shoe Zone reports £2.6m loss as revenues fall 40%
Shoe retailer Shoe Zone has reported a loss before tax of £2.6m for the six month period ending 3 April. The retailer attributed the loss to “tighter cost controls and an increase in digital”. It comes as it also saw revenues for the period plunge over 40% to £40.4m. As…
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18 MayDIY
Topps Tiles ‘confident’ despite 2.8% revenue decline
Topps Tiles is remaining “confident” after it saw revenues decline by 2.8% in the six months to 27 March, due to lockdown restrictions. In an update, the retailer said the results reflect “two distinct and contrasting” periods of trading – with stores originally seeing like-for-like sales up 19.9% in Q1…
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18 MayAdvice
Why retailers must invest beyond the buy button
Over the past 12 months, retailers have turbocharged their shift to digital. A recent survey by KPMG showed that 67% of decision-makers have accelerated their digital strategies because of Covid-19. These changes come in response to the ever-changing needs of consumers, which have proved harder to predict than ever before.…
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18 MayShopping Centres
Westfield owner confirms €1.25bn bond placement
Unibail-Rodamco-Westfield, the owner of Westfield shopping centres, has announced a successful €1.25bn (£1.07bn) bond placement. The two-tranche senior bond offering is intended to both strengthen the group’s liquidity position and extend its debt maturity. The placement features a €650m (£559m) bond with a seven-year and five-month maturity and a 0.75%…
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17 MayShopping Centres
Via Outlets reopens entire European portfolio
Via Outlets has announced it has reopened all shopping centres in its 11-strong portfolio, with the Zweibrücken Fashion Outlet in Germany opening last week. Not including the company’s Hede Fashion Outlet in Gothenburg, the London-based fashion outlet destination operator’s centres have been partially or completely closed for the majority of…
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17 MayCoronavirus
UK to spend £2.5bn this week as restrictions ease
The UK is set to collectively spend £2.5bn this week as indoor hospitality reopens and restrictions further ease, giving a “much-needed” boost to the high street. According to a new VoucherCodes.co.uk report, conducted by the Centre for Retail Research (CRR), 104 million people are predicted to visit hospitality venues this…
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14 MayAnalysis
The return to the high street: friend or foe?
With our clocks adjusted to British Summer Time and Government guidelines easing off shopping restrictions for non-essential shopping, the return to the high street is back in swing. However, with non-essential shops implementing social distancing measures to ensure they remain as safe as they can be, the handling of stock…
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14 MayHigh Street
The Works sales plunge 19% in FY21
The Works has reported a 19% sales drop for the 53 weeks to 2 May, resulting in £206.2m in overall sales. This result comes after the retail chain saw its sites closed over the past year due to Covid-19 lockdowns, which it attributed to the financial outcome. During the period,…
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13 MayClothing & Shoes
Burberry FY21 revenues decline 10%
Burberry saw its revenue for the 12 months to 27 March 2021 decline 10% year-on-year at CER to £2.34bn. The fashion house’s adjusted operating profit represented a similar fall, dropping 8% from £433m in FY20 to £396m in FY21. The group’s revenues suffered during the first half of the period,…
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