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 -12 MayEconomy
UK economy shrinks 1.5% in Q1 despite signs of recovery
The UK economy shrank by 1.5% during the first three months of the year due to the impact of the national lockdown. According to the latest figures by the ONS however, the contraction shows a marked improvement on the first lockdown last year when gross domestic product (GDP) contracted by…
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12 MayPeople Moves
Retail businesses started in 2020 to create 5,500 jobs
Retail businesses started in 2020 are set to create thousands of jobs in the coming years, as one-in-four retail business owners plan to hire one or more employees, according to new research by The Accountancy Partnership. It found that a quarter of commerce entrepreneurs who started a business during the…
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11 MaySupermarkets
Morrisons predicts stronger profits amid sales surge
Morrison’s has predicted that net debt for the year will be no higher than pre-pandemic levels and that profit before tax will grow to more than the £431m the group achieved last year had the group not waived its right to £230m business rates relief. The news follows the supermarket’s…
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11 MayHigh Street
Hotel Chocolat reports Easter revenue boost
Hotel Chocolat has reported a year-on-year revenue increase of 60% over the eight weeks to 25 April, attributed to the rise to the Easter holiday and Mothers Day celebrations. The revenue surge was reported despite its stores being closed for six weeks of the period due to Covid-19 lockdown restrictions.…
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10 MayCoronavirus
PM confirms further easing of restrictions from 17 May
Prime minister Boris Johnson has confirmed that indoor hospitality can return next week as the government moves ahead with the next step in its roadmap out of lockdown. From the 17 May, six people or two households will be allowed to meet inside, whilst indoor hospitality will also be able…
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7 MayAnalysis
How Amazon delivered a smart retail customer experience with a human touch
Competition in modern retail is all about customer experience, and during the pandemic e-commerce and digital retail has accelerated rapidly, creating new customer expectations around digital experiences. According to the ONS, online retail sales grew by 46% in 2020 compared to the previous year – the largest increase since 2008.…
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7 MayHigh Street
Fashion and lifestyle sales see record surge amid reopening
Retailers reported record results across fashion, lifestyle and homeware and sustained growth of online sales in April, as consumer confidence was boosted by the easing of lockdown and progress with the COVID-19 vaccination programme, according to BDO. BDO’s High Street Sales Tracker (HSST) found that non-store like for like sales…
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6 MayClothing & Shoes
Next increases full-year profit guidance to £720m amid sales surge
Next has increased its pre-tax profits guidance for the full year to £720m from £700m after seeing a surge in sales. The retailer previously forecasted that in its 13 weeks to 1 May, sales would be down by 10%, however due to a 65% increase in online sales and Covid-19…
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6 MayClothing & Shoes
Superdry revenue slumps 21% in full-year results
Superdry saw revenue fall 21% to £556.6m in the full-year ended 24 April 2021, despite witnessing a slight growth of 0.8% in its final quarter as restrictions began to ease across the UK. While store revenue was down by 50.9% to £140.9 amid ongoing store closures in the period, this…
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6 MayCoronavirus
Retail workers suffer worst mental health of any employee group
Retail staff in the UK are currently suffering among the worst mental wellbeing of any employee group, according to the industry charity retailTrust. The survey of nearly 1,300 retail employees revealed their average wellbeing levels are much lower than in people who work in other industries, with 84% of workers…
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