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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Mar- 2021 -16 MarchHigh Street
Thorntons to close all 61 UK sites, 600 jobs at risk
Chocolate maker Thorntons has announced it is to close all 61 of its UK stores, placing over 600 jobs at risk. Announcing the decision on its website, it said the decision comes as it has been “operating for a long time in a tough and challenging retail environment”. It cited…
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15 MarchAdvice
No smooth sailing: Omnichannel investment is the key to weathering the storm
A series of challenges over the last year have brought with them a wealth of era-defining moments for retail. Within a brief and turbulent window of time, we have seen some of the biggest hallmarks of the changing retail landscape. Most notably, the already wavering high street was hit hard…
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15 MarchClothing & Shoes
H&M Q1 sales fall 21% to £3.4bn
H&M has announced that group net sales decreased by 21% in local currencies to SEK 40.1bn (£3.4bn) in its first quarter of trading, compared with the same period the previous year. The group stated that sales development was “significantly affected” by the Covid-19 situation, with over 1,800 stores temporarily closed…
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15 MarchCoronavirus Featured Content
Covid-19 forced over 17,500 chain stores to close in 2020
More than 17,500 chain stores were forced to close last year across the UK, as Covid-19 has created one of the worst declines for retail on record. According to research by PwC and the Local Data Company, 2020 saw an average of 48 shops, restaurants and leisure venues close every…
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12 MarchFeatures
A look at what an online sales tax means for businesses
In last year’s Business Rates Review: Call for Evidence, Jesse Norman MP, financial secretary to the Treasury, said the government would explore the potential options of “alternative” property and online taxes which could act as “possible replacements” for rates to tackle the increases in businesses online presence. The proposition would…
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12 MarchOnline & Digital
JD.com Q4 revenues up 31%
Chinese online retailer JD.com reported a 31% increase in revenues during the fourth quarter of the year to RMB224.3bn (£24.7bn). The Q4 performance has beaten analyst expectations of RMB 220.3bn (£24bn) as the Covid-19 pandemic drove consumers to its online operations. The retailer also reported that income from operations for…
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12 MarchLuxury Goods
Burberry upgrades Q4 guidance
Burberry has announced that ahead of its trading update, the group anticipates its fourth quarter results to be “better than expected” with an adjusted operating margin to be in the range of 15.5% to 16.5%. The retailer has estimated that its comparable store retail sales in Q4 FY2021 will range…
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12 MarchEconomy
UK GDP shrinks 2.9% amid January lockdown
Monthly GDP fell by 2.9% in January as a national lockdown proved to impact economic activity, new data from the Office for National Statistics (ONS) reveals. Figures released show that January’s GDP was 9.0% below the levels seen in February 2020, and 4.0% below October 2020 – the “initial recovery…
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12 MarchOnline & Digital
Very Group prepares for hybrid working model
Very Group has announced that it will be adopting a hybrid working model going forward for all its employees. The Littlewoods.com and Very.co.uk operator renovated its Liverpool-based headquarters to accommodate its 2,100 members of staff oscillating between working on site and at home. The renovations, carried out by Greenmount Projects,…
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11 MarchSupermarkets
Morrisons remains ‘confident’ despite 62% fall in profits
Morrisons has said it expects to see profits recover this financial year, after it experienced a 62% decrease in pre-tax profits during 2020 due to costs brought on by the pandemic. Last year, the ‘Big-Four’ grocer saw like-for-like sales grow by 8.6%, as consumers flocked to supermarkets throughout the pandemic. …
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