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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Feb- 2021 -26 FebruaryNews
Pets at Home raises guidance amid strong Q4 trading
Pets at Home has once again raised its profit forecast as the group continues to see strong trading and rising demand in the pet sector. In light of its trading year-to-date, it now anticipates full-year underlying pre-tax profit, including the previously announced repayment of business rates relief of £28.9m, to…
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26 FebruarySupermarkets
Waitrose partners with FareShare to redirect farm food surplus
Waitrose has announced that it has teamed up with FareShare in a new trial that will redirect surplus farm food to families in need in the next phase of its Give A Little Love Campaign. The trial will run from 1 March through to 30 June 2021 with the grocer…
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25 FebruaryClothing & Shoes
TK Maxx owner sees 10% sales slide due to lockdown
TJX Companies, the parent company of TK Maxx, has reported a 10.7% drop in FY21 net sales to $32.1bn (£22.6bn), which it revealed reflects the “negative impact of temporary store closures for approximately 24% of the year”. The retail group, which also operates the Marmaxx and HomeGoods brands in the…
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25 FebruaryHigh Street
Retail set for 50% April increase to footfall
UK retail destinations are expected to see footfall rise by 47.9% upon the reopening of non-essential retail and outdoor hospitality in April. According to the retail analyst Springboard, footfall from the 12 April will be 128.5% higher than it was for the same week in 2020. High streets and shopping…
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25 FebruaryDIY
Ikea UK hit with £33m loss amid pandemic
Ikea UK has announced that total sales fell by £200m to £1.9bn in its full-year ended 31 August 2020, down from sales of £2.12bn reported in FY19. While the furniture giant decreased its costs by 3.4% to help shore up its finances, it still reported an overall loss impact of…
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25 FebruaryOnline & Digital
Amazon tops annual list of global retailers with $1.63tn market cap
Amazon has topped the list of the top 25 global retailers with a £1.15bn ($1.63tn) market cap for the year ending 31 January 2020, according to data from TradingPlatforms.com. The online retailer has benefitted from the Covid-19 pandemic as consumers have shifted to buying products and services online. E-commerce site…
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24 FebruaryClothing & Shoes
Puma reports 9.1% sales rise in Q4
Puma has reported a 9.1% sales increase in its financial results for the fourth quarter of 2020. The bulk of the sales rise primarily came from the Asia/Pacific market which was less affected by Covid-19 restrictions over the period compared to the rest of the world. Sales rose by 9.8%…
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24 FebruarySport & Leisure
Angling Direct sees revenue soar by 27%
Fishing tackle and equipment retailer Angling Direct is expecting to report a 27% increase in revenue to £67.6m for the financial year which ended 31 January, ahead of announcing its final results on 11 May 2021. In a trading update, the retailer reported a strong performance from its online store…
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24 FebruaryCoronavirus
Chancellor expected to extend furlough until May
Chancellor Rishi Sunak is expected to announce a further extension to the government’s furlough scheme until May in his Budget speech next week. According to The Times, the move is expected after Boris Johnson promised not to “pull the rug out” from businesses when restrictions eventually begin to ease under…
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24 FebruaryCoronavirus
Scotland to reopen non-essential retail from 26 April
First minister Nicola Sturgeon has announced that non-essential retailers in Scotland will be able to reopen from 26 April. Sturgeon outlined the country’s exit out of lockdown restrictions yesterday (23 February), giving businesses a timeframe of when they can expect to reopen. Scotland’s stay-at-home order is likely to remain in…
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