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 -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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10 MarchClothing & Shoes
Mango 2020 in-store turnover falls 43%
Fashion, footwear, and accessories retailer Mango has announced turnover for FY20 of £1.58bn, as the performance of its in-store and online channels offset one another. While the groups’ bricks and mortar stores saw a 43% year-on-year decline to turnover, its online channels grew 36% to £656m. The figures represent an…
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10 MarchClothing & Shoes
Inditex profits fall to €1.1bn despite strong online sales
Inditex, the parent company of fashion retailers Zara and Massimo Dutti, has revealed a fall in profits to €1.1bn (£940m) for the financial year ending 31 January 2021 – as Covid-19 forced many of its stores to close. The retail group revealed that its sales fell 28% to €20.4bn (£17.4bn),…
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10 MarchSport & Leisure
Adidas reports strong finish to 2020 but warns of Reebok sales hit
Adidas has reported a “strong finish” to 2020, however warned that its profits may be impacted by its decision to divest the Reebok brand. The german sports retailer reported a 1% sales growth on a currency-neutral basis in Q4 to € 5.55bn (£3.9bn). Adidas also saw its e-commerce sales grow…
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10 MarchLuxury Goods
Pandora posts 12% organic growth in February
Luxury jewellery retailer Pandora has reported a year-on-year organic growth of 12% for February 2021. The month also represented a year-on-year total sell-out growth of 7%, while the quarter to date achieved 4% organic and 1% sell-out expansions when compared to Q1 of FY20. The results are part of a…
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9 MarchHigh Street
DFS revenues jump 17.3% in half-year results
DFS Furniture has announced its revenues increased by 17.3% to £572.6m in the 26 weeks to 29 December 2020, due to a rise in demand for living room furniture during lockdown. The retailer reported a strong trading performance over the period, which included a series of tiered lockdowns across the…
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8 MarchHigh Street
Shoe Zone swings to £14.6m pre-tax loss
Shoe Zone has posted a loss-before-tax of £14.6m for the 52 weeks to October 2020, following a loss of trade due to Covid-19. The store which employs 3,000 people across the UK, also revealed that revenues decreased by 24.3% to £122.6m. In addition, the group generated net cash earnings of…
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5 MarchSupermarkets
Co-op to hold ‘crunch talks’ over relief repayment
The Co-operative Group will reportedly hold a “crunch” board meeting next week to discuss whether it will repay £80m in government support funding, according to Sky News. According to Sky, Co-op directors, alongside chairman Allan Leighton, will now meet next Tuesday to discuss whether the group will repay the funding…
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4 MarchHigh Street
B&M raises FY21 guidance amid strong Q4 trading
B&M has raised its full-year guidance for the financial year ended 27 March 2021, as revenue has risen 22.5% in its fourth quarter to date, despite “uncertainties” remaining regarding the Covid-19 pandemic. Following this strong trading, B&M expects its EBITDA for the full-year to be in the range of £590m…
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